While home prices are not at the top of the market like they reached earlier this year, they are still higher than they were last year. And with low inventory which is likely not catching up to demand for a very long time, it’s seems harder than ever to buy a home.
So if you’re a prospective homeowner, you’re probably feeling a little worried right now. Don’t worry...that’s normal! To help survive the house hunt, you might need a little emotional preparation and support.
Set your expectations:
If you enter the housing market expecting to immediately snatch up your dream home, chances are you’re setting yourself up for lots of sleepless nights and tears! This comes from having high expectations and no plan to work from. This doesn’t mean it’s easy to lower them either.
It’s important to set realistic expectations without scaring yourself...remember as you go through the process to not take anything personally. You have to be okay when you’re starting the search that you may not find the perfect home. Some people are too specific which can be a disservice at times. Be open to what’s out there, instead of deciding in advance exactly what you want.
Know your limits:
Try to manage the amount of energy you are putting into each offer, especially without exhausting yourself and those around you. If you’re obsessing over a house that’s just not within reach, move forward with your search. Compile a list of your needs, wants and wishes and prioritize them. Sometimes you have to take a step backward to see the bigger picture!
Focus on the search:
Stress can become greater when you add more ‘tasks’ to your life. When searching for a home, be mindful about what else you are going to add to your plate during that time. Try to maintain equilibrium elsewhere in your life, so you can enjoy the process of becoming a home owner.
Keep your stamina
When making an offer, it doesn't have to be perfect! Don't get caught up with all the details, only to have it be countered or even declined! In this market, you might make up to three to six offers before you win one. Be prepared to hang in there.
Expect delayed gratification
Call it the agony of winning. Think about it, you sign the contract, and pack up all your belongings only to be caught up with a new round of intense feelings: Regret and anxiety where sometimes even panic whether you've made the right decision. It can be very overwhelming when the search is actually over. It may not be until you make your first meal, rake your first leaves or make the first upgrade of your new home that confirms your decision to know that you made the right decision that you finally feel at home and full of gratitude.
As I have said before, please call a local Realtor for all your real estate needs no matter how big or small. We are trained professionals here to make your life easier. It's best to surround yourself with the right team of professionals that can continuously give you the right advice for all your circumstances.