The real estate market is a competitive one. As a buyer, it can be easy to get caught up in the search for the perfect property in the perfect location with a perfect floor plan. We like to call this “perfect property” the Real Estate Unicorn, because it doesn’t exist.
Here are a few tips for avoiding the allure of the real estate unicorn:
Set realistic expectations. When you're first starting your search, it's helpful to create a list of your must-haves and nice-to-haves. This will help you to narrow your options and avoid getting caught up in properties that don't meet your needs.
Be flexible. It's important to be flexible with your criteria, especially if you're on a tight budget. For example, if you're set on living in a certain neighborhood, you may need to be willing to compromise on the size of your home or the number of bedrooms if it's a pricey area.
Consider the future. When you're looking at properties, it's important to think about your future needs. For example, if you plan to start a family in the next few years, you'll need to make sure that the property has enough bedrooms and space for a growing family.
Don't be afraid to negotiate. Once you've found a property that you love, don't be afraid to negotiate the price. In some markets, the seller may be willing to come down on the price if they're motivated to sell.
Here are some additional tips for avoiding the real estate unicorn:
Do your research. Before you start your search, it's important to research the different neighborhoods and communities in your area. This will help you to narrow down your options and find a property that's a good fit for your lifestyle.
Get pre-approved for a mortgage. Getting pre-approved for a mortgage will give you an idea of how much you can afford to spend on a home. This will help you to stay focused during your search and avoid overspending.
You can avoid the allure of the real estate unicorn and find the perfect home for you and your family.