This morning my MLS (SIRMLS, the Southern Illinois Regional Multiple Listing Service) showed 5,494 properties actively for sale in my territory.
Wow! That's great, right? As a buyer, choice is good, isn't it?
Yes, choice is a beautiful thing -- when you've taken the time to discuss your needs and wants in a new home with your Realtor. But if you aren't sure what you want, choice can lead to major confusion.
So how can you avoid that understandable confusion and find the best possible home choice for you?
I use a system with my buyers. The very first thing we'll do is have a conversation about your real estate goals. Why are you buying? Do you have to sell your current home or another piece of property before you buy your next home? What is your timetable for getting into a new home?
And we'll go over even more questions, which I will list below, including the BIGGIE:
WHERE DO YOU WANT TO LIVE?
That might sound like a silly question, but in an area like mine -- and many others around the nation -- which cover hundreds of square miles and include rural, suburban and urban options, it's the first question that needs to be answered. Do you want a newer subdivision, a city rowhouse, a farmette, a rural home with no neighbors in sight, a bungelow near an active downtown?
Narrowing location can sometimes take a couple of outings and several discussions. I've had buyers who swore to me they wanted to live in X Town, but by the time we looked at a few of the active listings, they changed course and ended up 30 miles away in Town Y where they were then able to focus on the homes that met their needs.
Flexibility is key for both the buyer and the Realtor. People change their minds and that's fair. Your Realtor is here to keep you focused on your needs and watch out for your interests in the transaction, but the CHOICE is yours.
MAKE A LIST
Here are some of the other questions you should think about and should discuss with your Realtor before your first trip to view homes. I've separated them into NEEDS and WANTS. It's important to know the difference and use these lists to find a home that meets most of your needs and many of your wants. Write down your answers -- make a LIST -- and show the list to your Realtor:
NEEDS
How many bedrooms do you need?
Do you need a garage? If so, do you need a certain number of bays?
Do you need to be in a specific school district?
Do you need to be within a certain drive-time of your work, family, school, place of worship, etc.?
What kind of storage space do you need?
Do you entertain? If so, will you need a large amount of public space in your home?
WANTS
Would you like to have a large yard or acreage with your new home? Or would you prefer a smaller space with less maintenance?
What is the most important room in the house to you? How do you envision that room looking/functioning?
How many bathrooms would you like? (You NEED a bathroom, but the number of them can be classified as a WANT.)
Do you care if you have a finished or partially finished basement or would you prefer no basement at all?
Can you work with a home that needs updates or do you want something move-in ready?
Do you like an open floor plan or more formal-style living and dining rooms?
The list goes on and can be as specific as you like. And, when you share your list with your real estate professional, she or he can focus on homes that meet those needs. They can eliminate homes with no garages if you know you need two bays. They can search only four+ bedroom homes if that is your need and save you the time of looking at those with three or fewer.
Once you have your list and discuss it with all parties involved, you might find that group of 5,000 potential homes active in the MLS today, has turned into a manageable list of 25 possibilities that meet most of your NEEDS and many of your WANTS. Now it's easier to find the right place for your next home.
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