It’s like asking someone how many wedding dresses they will have to try on before finding the right one. Or asking someone how many ice cream flavors they will have to taste, before finding their absolute favorite. Same goes with buying houses. There’s no way of knowing how many homes we will need to look at, because everyone’s different. I’ve worked with clients who only had to see 2 houses before finding the right one, and I’ve worked with clients who need to see over 100.
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I get asked this question a lot. “How many homes should I see before buying,” or “what is the appropriate number of houses to see before buying”. To put it simply, there is no right answer to both of these questions, because there’s no way of knowing beforehand how many homes it will take to see, before finding the right one.
Factors that help determine the length of the process:
Although it’s impossible to predict how many homes a buyer will need to see before finding the right one, there are certain factors that help determine how long the process will take. The time of the year is definitely a determinate factor. If someone is buying when the market is hot and there are many houses t o choose from, chances are they will find the perfect home faster than if they were to buy when the market is slow. Another factor is the buyer’s seriousness in buying. Buyers who are determined to find a home quickly, have the mindset to buy and are ready for it, will generally find the right home within a short amount of time. Buyers who are window shopping will generally need to see more houses and will even pass on the right ones, simply because they are not ready to buy. Window shopping is good and encouraged for those unsure of what they want, because it will help them recognize what that actually is. Another important factor is the amount of research the agent puts into finding the perfect home. If agents’ ask the right questions regarding the buyer’s interests from the very first meeting, they should have a well-rounded idea of what that is, and thus do their research efficiently. Doing research efficiently leads to buyers actually seeing worthwhile homes. Seeing homes which “fit the buyer’s parameters” limits the amount of homes they have to see before actually finding the right one. From my experience, the average time for buying has been roughly 5-7 trips. Although I encourage window shopping, I wouldn’t advise doing it past 10 trips because after seeing hundreds of homes, all of them start to blend together and it starts to be difficult for the buyers to remember details they like or didn’t like. Also, it’s not financially smart to window shop for too long, because the market can rise fast and the cost difference between houses put on the market even within a few weeks apart can be enormous. If buyers’ find a perfect home which they are sure of and which they can afford, they shouldn’t hesitate to buy, because their next perfect home will probably end up costing them more.
[two]What can buyers do to shorten the process:
If buyers want to find the right home quickly, there are a few things they should do even before meeting with an agent. They should determine or at least think about the potential neighborhood they would like to live in. Driving around neighborhoods, looking at restaurants, seeing the forms of entertainment various neighborhoods have to offer, and thinking about whether the neighborhood is complimentary to their lifestyle is important, because it will essentially narrow down the homes that are worth seeing, from those that aren’t. They should also pay attention to what they like. If they would want to live in a building, they should ask themselves if they would want to live in a tall glassy one, or a “low rise boutique style one”. Knowing what the buyers like, narrows down the potential properties by a great deal.
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Remembering exercises:
Sometimes buyers take notes of things they liked and didn’t like during showings to help them remember crucial details, while others find it helpful to rate houses the houses after seeing them. Doing these exercises puts things in perspective, and it can be helpful in speeding things along, and essentially narrowing down and dismissing houses that are no longer in the running.
[/two]Viewing top choices a second time:
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[/two][two]Once the buyers have narrowed it down to a few houses, it’s important to see them a second time to make a final decision and to ta ke notice if anything was overlooked. Agents should try not to steer the buyers or interfere in their decision making process, but simply offer their professional expertise.[/two]