Finding the home of your dreams with an egregiously high price tag can be discouraging. Lake Homes Realty’s CEO, Glenn Phillips, gives six factors to keep in mind when facing an overpriced home.
- Keep Options Open: Becoming fixated on a home can cause you to miss out on other opportunities. Keep an open mind for all potential properties.
- Patience: Good things come to those who wait. Although it can be challenging, remember to take your time during this process.
- Listen…and Ask: Be mindful with your questioning, and actively listen to your realtor when they share information. Doing so will help you adapt to your seller’s needs.
- Bring Data: Collecting your own information in regards to the market will help you during the negotiation process. It can help determine a realistic price for a home, rather than relying on an inflated number a seller wishes to receive.
- Flexibility: If you find your dream home, you don’t have to be so rigid when negotiating. Decide what you’re willing to compromise on to get to a deal both parties are comfortable with.
- Be Ready to Walk: Becoming attached to a home can cause you to make rash decisions. When you’ve exhausted your capacity for compromise, be willing to walk away.
When entering the lake homes market, a hefty price tag can be disheartening, but you shouldn’t let it deter you from buying the home of your dreams. Stay prepared, and you will be able to negotiate your way to a manageable price!