We’re getting ready to exit the homebuying ‘season.’ Traditionally more homes are bought and sold in the Spring and Summer months. Sellers know this so that’s why they tell their clients it’s a good time to list their home during this period. On your end, however, if you’ve been looking for a home to buy but haven’t found the right one, there’s no time to panic.
You’re always going to find a real estate agent who tells you that it’s time to buy. After all, do you think the agent would tell you it’s not a good time to buy? Probably not. Agents don’t make any money unless they sell homes.
Mortgage companies can also pitch in by touting interest rates. You can be told it’s a good time to buy because rates are low or that it’s a good time to buy because rates are starting to move up.
But buying a home is likely the biggest financial commitment you’ll ever make. It’s not to be taken lightly. Yes, it’s fun to shop for homes but it’s not something to rush into. With a home, you can’t exactly go back to the sellers, show them your receipt, and ask for a refund.
If you haven’t found the home you really want, don’t compromise. You’ll be living with that decision for some time. Don’t let outside influences cause you to make a purchase decision if you’re not really ready. Remember, these third parties buy, sell, and finance homes on a regular basis but you don’t. The decision must be yours and yours alone. Yes, listen to the advice given but don’t let the advice guide you into making that decision if you’re not really ready.
There will certainly be some anxiety perhaps but that’s normal. It’s not like renting an apartment and if you don’t like where you live you can always wait until you lease expires and move somewhere else.
Find the right home, the right neighborhood, and the right school system, and plan a strategy that aligns with your goals. Be patient and if you start to feel rushed, perhaps you’re working with the wrong people. No one should attempt to rush you into any decision. After all, it’s you who’s going to be living there paying the mortgage each month, and being responsible for the property taxes and insurance. Take your time. Don’t rush it.
