How Many Houses Do I Need to See in Connecticut Before Finding “The One”?
January 31st, 2008 categories: Home Buyers
This is one of the most common questions home buyers have and it’s the question I never have the answer to. A related question would be “How long will it take for me to find a house?”
The answer can vary so widely. I personally haven’t had any buyers look at just one and buy, nor have I had anyone look at over 100 houses. I can tell you that the answer is directly related to your (the buyer) motivation level which can be determined by answering these questions:
How soon do you need to find a house?
If you are living with family and “can take your time to find the right house,” then you can look at 50 houses, as long as you want to spend the time doing it.
Why do you want to buy?
If your answer is “as an investment,” then the timeline for buying a house should be lengthened. If your answer is,”I need to get into XYZ school district by the end of August,” then your reason to move is a powerful motivation and you should plan to start looking at least 3 months before you want to move.
Are you prepared to buy?
A prepared buyer is ready and anxious to speak with a lender, knows when their lease is up, has driven around potential neighborhoods, and is ready to work with an agent under contract.
How’s the Market?
How much attention do you pay to the market? Some buyers are motivated (or unmotivated) to buy based on what other people are doing. In a seller’s market, there is a flurry of activity with everyone running around writing offers on the first house they see that doesn’t smell or have a hole in the roof. Many buyers want to get in on the action and feel like they are missing out on something if they don’t buy.
With a normal market or seller’s market, you can expect to have the luxury of looking at many properties. There isn’t the external pressure of competition driving you to make a decision faster. But some buyers are scared away from buying because the lack of activity suggests it’s a bad time to buy.
If You Want to See Everything
Even if you have all the time in the world and are buying in a buyer’s market, you may not want to look at every property in your price range over a period of time. It is possible to see too many, so many that you can’t remember what you’ve looked at. And, you probably have better things to do then spend every weekend during the spring and summer driving around with your agent.
That’s great advice. Also, I’d recommend sitting down with your significant other and writing out in detail - exactly what you are looking for in a home: 2 Car Garage, Pool, 4 Bedrooms, Granite Counters, Hardwood floors, Fireplace etc. etc.
This will help you eliminate a lot of time.
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