The Balancing Act of Not Rushing, and Not Dragging Your Feet, when Buying a Home
We’ve all heard stories about home buyers that were all set to put in a great offer on the dream home they’d finally found after months of searching – only to find out that someone else had come in before them and won the house. A situation like that can be truly heartbreaking, as you’ll be looking at even more months of trying to find that home that fits you and your family perfectly. But, we’ve all also been warned not to rush in too soon for fear of that exact thing happening, and how home buyers have often ended up paying too much for the home or overlooking major flaws (see yesterday’s post on home buying mistakes for more on this.) So how do you walk the fine line and perform the balancing act of not dragging your feet, but also not rushing in too quickly?
It’s all about ensuring that not just the home, but also the neighbourhood, is a place where you’ll feel safe and comfortable with your family. That’s the waiting part and making sure you’re not rushing in. Take the time to walk around the neighbourhood, preferably at around the same time the trains runs through it, school buses are lined up down the street, or anything else you see as a potential nuisance. If there are no possible irritants, still walk around being sure to take a good look at all you see and hear, and make sure that it’s the right community for you.
That doesn’t mean though, that you should keep coming back, day after day, in case the train didn’t happen to be running when you walked through, or because it wasn’t a school day. Typically, one night’s sleep on the matter should be long enough. And you’d be surprised at just how much you feel about the home in the morning, and how well of a sleep you got, will tell you about how much you actually want the home.
That being said, don’t wait any longer than just one night to put in an offer on a home you’ve decided you really, really want. If you do, you may find yourself in the position of that unlucky buyer that lost out on their dream home simply because you waited too long to make an offer.