Dear Olivia,
I’ve been saving up for a home for a long time now, but unfortunately, there hasn’t been much on the market that I’ve liked. I’m desperate to have a home of my own…what should I do?
Sincerely,
Ready to Buy
Buying your first home is a huge step, and you definitely don’t want to mess it up, so I totally understand the stress and desperation you are feeling right now.
Since buying a home is such a big deal, though, it’s important that you not rush into it. Asking for advice is a great start, and hopefully, the tips I have to share with you will help!
Make Sacrifices – But Not Too Many
Sometimes, we want to find the “perfect” home, and as a result, we focus on a set of specific features that we feel we must have.
But doing so might mean that you miss out on “nearly perfect” homes because you aren’t being as flexible as you can when conducting a home search.
Whether you’re just casually getting online and looking at homes on your own or you have a Realtor who can tap into the Multiple Listing Service (MLS) to do a more thorough search, expanding your criteria can reveal homes that tick most of your boxes.
For example, if you are dead-set on a home with two bathrooms, expand your search to homes with 1 or 1.5 baths. Likewise, if a three-bedroom home is your dream, try searching for homes with two bedrooms. Making simple adjustments like this might help you find homes that more or less fit the bill.
Just be wary of giving up too much of what you want. While it can be helpful to make some sacrifices, you also don’t want to end up looking at homes that simply won’t work for you!
Expand Your Search
Photo by John Schnobrich on Unsplash
Related to the first point is this – try expanding your search beyond your ideal area.
This doesn’t have to be a massive expansion, either…
If you want to live in the country, don’t limit yourself to properties WAY out in the country. Instead, expand your search to locations closer to town that still offer bigger lots and the ability to have animals if you like.
As another example, if you’re only searching for homes in Riverton, consider expanding the search to include Kinnear, Hudson, and Shoshoni. All three towns are close enough to Riverton and might offer you additional housing options that you can’t find here in town.
Of course, there are plenty of other areas around Riverton to consider – properties on the reservation, Pavillion, or even Lander.
The point is that if the geographic area in which you’re looking is too small, bumping out the boundary of your search area could help you find the ideal home.
Be Patient and Keep Your Finances in Order
I know that it can be easier said than done to be patient in your home search, but if there isn’t anything on the market you like at the moment, all you can really do is keep searching and waiting for the right property.
Just be sure that your finances are in order, that way when the right property comes on the market, you’re in good shape to make an offer.
While you don’t need perfect credit and a huge downpayment to buy a home, it’s a good idea to check your credit report, fix any errors, and work on improving your credit score. You also don’t want to make any big purchases or take out new loans or lines of credit while you’re waiting for the right property.
Also work with your lender to get a pre-approval letter. Doing so puts you one step ahead of other buyers by demonstrating to sellers that you are likely to be able to afford the property and that you’re serious about your home search.
Having these ducks in a row will enable you and your Realtor to move more quickly when the home for you comes on the market. And while it might seem like that day will never come, it will! There is a home for everyone!
~Olivia