It’s no big secret that we are in a seller’s market, at least we still are here in the Pittsburgh area. Buying a home can be a trying process right now. Back in the day, you could go check out a house, maybe see it again, sleep on it, and then decide to make an offer. However, that is very much not the case in this market.
Below are the 3 ways that buyers can prepare themselves to deal with a seller’s market.
Avoid Frustration and Overwhelm in a Seller’s Market
If you try to start your home buying experience without talking to a real estate agent to learn how the process works, timelines to expect, and costs that you can expect to take on, chances are pretty good that you’re going to experience a lot of overwhelm and frustration. Your best bet in this situation is going to be meeting with a local REALTOR® to learn all about the process and what you can expect before you dive deeper into your home search.
Understand the Market & What to Expect
Looking for a home in a seller’s market looks a lot different than a buyer’s market, and that is what we are presently facing here locally. Having a good understanding of what homes are selling for, if they’re selling for more than list price, how long they are typically on the market, and how much competition you are facing is critical to your search. Knowing how quickly you’ll need to move when you find a home that you think might be “the one” is such an important part of house hunting in this market.
Have Realistic Expectations About the Process
Buying a house looks a lot different than how it might seem on TV. You don’t go check out 3 homes, mull it over, pick one, and have a guarantee that it’s yours unfortunately. There are SO many steps in between an accepted offer and the closing table. Having a good understanding about how all of it works will help give you more realistic expectations about how long it could take to find a home, how much people are paying for homes in the area, and how to best position yourself for success.
Basically, the best way to prepare yourself as a buyer in a seller’s market is to get yourself a damn good real estate agent who can help educate & prepare you for success. I’m here to guide you through all of it and it all starts with scheduling a buyer consultation call, which you can do HERE!
You can also check out my previous blog posts to learn other things to be prepared for while buying a home or how to survive multiple offers. Click HERE to read more!