Here are some key tips for homebuyers from my feature in USA Today.
Recently, I was featured on USA Today for helping a young couple buy their first home in today’s crazy market. It’s a wonderful story, and I think there’s a lot to learn from their journey. I want to share some key home-buying advice I used to help the Picchiottino family buy their first home:
Be prepared to pay over asking price. In today’s market, sellers often underprice their homes in order to drive competition among buyers. If this works, home listings can resemble an auction more than a traditional sale. Because of this, it’s a good idea to ask your Realtor what they think a home will actually end up selling for, and then budget accordingly. The Picchiottino family ended up paying $35,000 over list price, but they could afford it because they budgeted properly.
1. Lean on your Realtor’s experience. Good agents have tons of experience and relationships within their cities, so make sure you take advantage of that! For example, the Picchiottino family had their eye on a great home, but I steered them away. Based on my experience, I could tell the bidding war would take the home far outside their budget. In the end, that home sold for $140,000 above the asking price.
"Good agents have tons of experience and relationships within their cities, so make sure you take advantage of that!"
