It is common for home buyers to look for around 6 months or more before finding a house or condo that they like enough to buy it. It may take even longer if listings are in short supply. If, however, a buyer finds a house that he likes fairly early, certain doubts step into the buyer's mind: Have I looked long enough to understand the local market and the range of housing options available? Could there be another, even better listing on the market? Am I paying too much for this house, perhaps I could find one at a better price? Will an upcoming listing be more appealing? Should I wait and see what else might come along, or should I go for it? These doubts are natural, since home buying is the biggest transaction that most people would ever undertake in their lives.
Take our advice: Never pass over an ideal property just because you found it quickly. Instead, simply complete the investigation of the house in order to any concerns you may have about the property before making an offer. It may take years to find another suitable property, and you could regret passing over the listing.
Search the Internet
Search the Internet to find out of there are similar listings on the market in the area where you want to live. This process is easy and quick and you can do a lot of research before you even leave your home to look at houses. Ask your agent to show you as many of the ones you like as possible; rule out the listings that do not match your criteria.
Availability
A critical variable to consider before making your decision is how often listings like the one you're considering become available. Ask your agent to provide you with a list of similar listings that sold within the last six months or one year. You won't be able visit or view these listings so ask your agent to give you as much details as possible about the properties, including how long they took to sell and whether they sold for more or less than the list price. You might want to drive by the listings so that you can at least get a curbside impression of how they compare with the listing you're considering.
You may find that listings similar to the one you like come along frequently. They don't sell quickly and rarely for over the list price. In this case, there's no urgency to buy quickly.
However, if you discover that listings like the one you require come on the market infrequently, you should seriously consider going ahead with an offer as soon as you find something you like. When these homes come on the market, there is often high demand. You may not be the only buyer who has been waiting for just such a house. This means that you could end up paying more than the asking price if you end up bidding in competition with other buyers who want the same kind of a property you do.
So our advice is: Don't pass up a good listing just because you don't think you know enough to make an informed decision. Instead, pump up your investigations, collect data and analyse your options, so that you are prepared to make an informed decision.
Best of luck!