Special offer

Don't let your Emotions get the best of you during the Homebuying process

By
Real Estate Agent with Keller Williams Realty-Louisville East

Before buying your next home or your first home there are some tips from The Jimmy Welch Team to consider. Based on over 25 years of real estate experience our team has seen it all! Every week we witness buyers' emotions play a major role in helping or hurting the process of buying.

Of course buying a home is emotional! This is where memories are made with friends and family. New neighbors become a part of your life. And, it is most likely the most money you will ever spend on anything you buy!

With interest rates at historic lows buyers are hot on the trail for property. Here are some tips to help keep your emotions in check and approach the process reasonably:

  • It's Love at First Sight - Yes, you drive up and the "oohs and awes" begin. You love, love, love it! But it's the first house you have visited. It may be "the one", but it is important to compare it to other homes. First homebuyers especially haven't been privy to all the options of homes on the market. Also, don't get mesmorized by a colorful, attractive decor. Imagine the home empty and focus on the flow of the house. Does it fit your needs?
  • I want a"Deal" - You may have a friend that scored the best real estate deal ever and think you can score one too. In this current market, you may be right. However, be weary of what is a deal and what isn't. As a real estate agent in Louisville Ky the best advice is be educated about the area by getting comparisons from your agent and pick a home not just because it is a bargain basement price. Pick it because it fits your needs. Yes, a better deal on a home down the street may come about the week after you close. So what? If you chose a home that works best for you and your family, didn't you really get "the deal"?
  • Lowballing Your Offer - Lowballing can be SO tricky. Yes, it could work but most of the time it does not. Just a month ago I saw a couple lose the home of their dreams. The home was listed by my team for $625,000. The couple offered my seller $500,000. Other homes sold in the neighborhood in 2012 didn't fall under $595,00. My clients were in shock and also insulted. Be reasonable with your offer and also use a real estate agent in louisville that educates you on the other homes which have sold and the average % of discount for homes in the area. It wastes less time and doesn't upset the sellers from the get-go.
  • Don't be a Control Freak - Relax . . . Once you have put in an offer you are comfortable with, let your agent do her job. A good agent will keep you in the loop of timeframes and items needing your attention. Trust me, the agent wants the process to go as quick and seamless as possible. Nevertheless, there could be some hiccups and there will be items out of your control. Just try and communicate with a positive and patient outlook. Great buyer's agents will lobby on your behalf to get you in your new home as soon as possible.

Basically, making such a large purchase is finding a balance between your emotions and making smart financial decisions. First, find a great, experienced realtor who understands emotions can play a major role in homebuying. However, know that this agent will help you be realistic and help educate you to make the best decision for your needs. Jackie Wilson and Jodie Wild are Buyer's Agents with our team. The two of them have sold more than 60 homes this year and understand the emotions of a homebuyer. Give them a call at 502.554.9533.

About The Jimmy Welch Team:

Offering more than 25 years of combined real estate experience, The Jimmy Welch Team is a Louisville KY real estate company providing a wide range of services. Covering Louisville KY as well as the surrounding areas of Bullitt, Oldham and Shelby Counties, the company assists home sellers and home buyers in making their transactions run smoothly. Customers can call The Jimmy Welch Team at 502-554-9533 or visit us at www.jimmywelch.com.

Comments (0)