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With the summer months upon us and the kids out of school many buyers are renewing their new home search. When I'm showing them property or run across them at an open house they are often looking for the perfect house. The house with the granite kitchen counter tops, glass bathroom sinks, new hardwood floors, and immaculate landscaping. In other words, the pristine home.
The problem or curse arises when, which is often the case, the buyer finds the pristine home fitting all their wants and desires. Typically these homes are also coveted by other buyers and the sellers obtain multiple offers. The results in buyers bidding up the price, sometimes well over the seller's listing price.
When this happens there is at most two winners. The seller definitely wins, but only one buyer wins. The other buyers must set out on their search again. Often times, as a buyer, you'll start suffering fatigue, as you're either priced out or bid out of multiple home purchasing opportunities.
Many home buyers are working long hours, have busy families, and limited free time. Understandably they don't want to purchase a home needing some spit and polish, or remodeling. On the other had there can be benefits from taking on the extra work.
In today's market houses that need a bit of effort don't attract as much attention in the market. You may be the only buyer submitting an offer and the seller's asking price might be softer. A buyer might also get more house than they could if the home is perfect (no home is perfect!).
So, if you're one of the buyers out there who has begun to suffer fatigue consider your options. If a home needs some help there are contractors and other professionals willing to turn the tired house into your own pristine home, with your selection of granite, sinks, floors, carpets, and paint, not the previous owner's.
Why settle for letting the seller choose what your home looks like and the quality of materials, possibly make the choice yourself. Then it can really be your home.
Food for thought!