Like Homes attract Like Buyers

Low rates, low inventory and plenty of buyers have made for a busy 2012 Austin Real Estate season.  The biggest mistake a buyer can make right now is to not have a plan and thorough understanding of the home buying process.  If a home comes on the market these days, that is better than most – whether it is because of features or price, rest assured there are plenty of buyers that are going to go see it – and they all have similar wants and needs in a house.  In fact, many buyers all view the same houses, because a new one pops up in a popular subdivision or school district they want.  Like houses attract Like Buyers.  My last 2 listings had multiple offers and the last offer I wrote did as well.   Multiple offers are the norm right now, so buyers need to be prepared to act quickly when viewing a house they have interest in.

Steps to Home Ownership in Austin

Get pre-qualified or pre-approved for a loan before you ever step foot in a home – it will alleviate disappointment and an offer will not be accepted without one.

Understand the contract up front…what is option money, earnest money, a MUD, how does a back-up contract
work?  Having an understanding of the contract and the home buying process will save time and maybe a bit of frustration before you actually purchase a home.

Who are you going to call?  I have yet to call in the Ghost Busters, but knowing who you are going to call these days for an inspection is helpful.  Knowing how much hazard insurance might cost, even how much common upgrades like having a room painted, replacing carpet or installing granite might be helpful to know upfront, so that you have an idea.

Preparing before looking at homes will give the buyer a leg up on the competition and the ability to act quickly when the ideal home becomes available.

 

The 7 Year Itch

I often get asked by buyers first starting their Austin Home Search whether they should buy a home with a master upstairs with the rest of the bedrooms or on the main level.  The answer lies in the buyer based on where he is in his own individual timeline.  Sure, there comes a point when you may not want to be on the same floor as the kids – or maybe even in-laws.  On the flip side, buyers who are just starting to plan to have kids or have young children often prefer to be on the same floor.  The boogie man typically doesn’t make a presence until about 2am, so parents often want to be nearby to deal with late night trouble shooting without being a flight of stairs away. 

Search Listings for Homes for Sale in the Austin MLS

A Custom Home Search for Austin MLS listings can be created to search for homes with the master on the first floor or upstairs only.

Sure, a master on the main level can be helpful in the later years, when the kids are gone and the steps become cumbersome.  Understand, though, as much as we think this is going to be the last house we will ever buy – this little thing called life often gets in the way, which leads to a move. 

What my clients are often concerned about when purchasing a home with the master up is how that might affect re-sale.  What is important to remember is that buyers more often than not, reflect the seller at a given moment in time and that is when they are shopping for a home.  When you are selling the buyer is going to choose your home, for the same reasons you decided to buy it.  Also, there are many neighborhoods where is master is always up, just because that was the trend at the time.  So, in certain neighborhoods – that is the design you are going to be choosing from regardless.

 
My advise – choose a house that is going to work with your lifestyle for the next 7 years.  If you stay in it longer – great, but after 7 years you generally start getting the itch to move or need to move.  If we all had crystal balls the world would be a much different place.