Due to the ongoing pandemic, nearly every real estate market is facing low inventory and rising prices. The Ridgefield real estate market can be challenging for buyers who are looking for their dream home in this idyllic, sophisticated town. If you’ve been looking at Ridgefield homes for sale and are starting to get discouraged, you’re not alone. Here are some tips to help you achieve your goals when buyer’s fatigue sets in.
Make sure you’re fully prepared to buy
Some buyers can become very discouraged after they’ve had their hearts set on multiple homes and lose them to other offers. While this can sometimes happen in a competitive market regardless of your level of preparation, in other times losing a bid can be the result of being ill-prepared.
Before you make your next offer, make sure you’ve been pre-approved for a loan by a mortgage lender — many sellers will give priority to buyers who have proof they’re able to get financing.
Your Ridgefield real estate agent should also coach you on how to make a solid first offer in a competitive market. You can try dropping common contingencies, offering more than the listing price, and being flexible on move-in dates to boost your offer’s appeal. Finally, be ready to make an offer on the spot when you find a home you like, to limit the odds of multiple offers.
Before you make your next offer, make sure you’ve been pre-approved for a loan by a mortgage lender — many sellers will give priority to buyers who have proof they’re able to get financing.
Your Ridgefield real estate agent should also coach you on how to make a solid first offer in a competitive market. You can try dropping common contingencies, offering more than the listing price, and being flexible on move-in dates to boost your offer’s appeal. Finally, be ready to make an offer on the spot when you find a home you like, to limit the odds of multiple offers.
Keep in touch with your agent
It can be easy todrift away from your Ridgefield, CT real estate agent when you slip into buyer’s fatigue. However, keep in mind that this type of burnout is not only common, it’s also temporary! Falling out of touch with your agent is only extending your exhausting home search.
As you continue to discuss strategies on buying Ridgefield property with your agent, make it a point to keep up-to-date on what’s going on in the market, so you don’t miss out on your ideal property. If you’ve chosen the right agent, you’ll enjoy stay ing in frequent communication with them. They’ll support you so you can keep your eye on the prize.
As you continue to discuss strategies on buying Ridgefield property with your agent, make it a point to keep up-to-date on what’s going on in the market, so you don’t miss out on your ideal property. If you’ve chosen the right agent, you’ll enjoy stay ing in frequent communication with them. They’ll support you so you can keep your eye on the prize.
Check your expectations
When inventory is low, you may need to adjust your expectations and consider Ridgefield homes that may not exactly match your “dream home” vision. If you’re starting to experience buyer’s fatigue, it could be helpful to sit down with your agent and go over your list of needs. You’ll likely find that some of your needs are not really needed at all! If they’re more in the “want” category, you may want to mentally separate them onto a wish list.
Needs are features that can’t be changed, like the school district or architectural style of the home. Wish list items, like a swimming pool or dedicated home office, can be added in if you choose to remodel. Ask your Ridgefield, CT real estate agent to broaden the search to homes that include only your needs, in order to surface new options and restore your enthusiasm.
Needs are features that can’t be changed, like the school district or architectural style of the home. Wish list items, like a swimming pool or dedicated home office, can be added in if you choose to remodel. Ask your Ridgefield, CT real estate agent to broaden the search to homes that include only your needs, in order to surface new options and restore your enthusiasm.
Limit the number of homes you see in person
If you’re looking at every home in your price range that hits the market and has no real plan for elimination, you’re bound to burn out. To avoid this, limit the number of homes you walk through to only those that closely match your needs. For those that may work for you, ask your agent if you can do a virtual showing. These take up less time and energy and can help you eliminate potential homes sight-unseen. Not sure about a home after seeing it virtually? Ask your agent to look at it without you, to determine if it has any red flags or if it should be moved up the priority list.
Take a break
Sometimes, the only way to address burnout is to take a break from the home search. Many buyers are afraid to do this, as they fear missing out should their perfect home come on the market. However, if you’ve got good communication with your Ridgefield, CT real estate agent, you’ll be able to take a rest while knowing your agent will continue to keep you informed.
Some buyers may get enough of a break by simply not looking at listings for a few days or weeks. Others benefit more from an actual vacation that takes them out of town, away from everyday stressors. If you’re in a time crunch due to the ongoing sale of your current home, consider renting another home short-term to take the pressure off your new home search.
If part of your burnout comes from dissatisfaction with a lack of Ridgefield, CT homes in your budget, it might pay off to take a longer break. Use the time to strengthen your credit score and find ways to free up more cash for a down payment or earnest money. The stronger your finances, the better able you’ll be able to compete with others on the real estate you want.
Buyer’s fatigue is common in a competitive market, but it doesn’t have to mean you need to give up. If you’re starting to feel frustrated, consider the above tips and talk with your Ridgefield real estate agent on how to help you address burnout. Haven’t yet chosen a buyer’s agent to work with? Reach out to trusted local agent Carissa McMahon for expert assistance throughout the entire buying process.
Some buyers may get enough of a break by simply not looking at listings for a few days or weeks. Others benefit more from an actual vacation that takes them out of town, away from everyday stressors. If you’re in a time crunch due to the ongoing sale of your current home, consider renting another home short-term to take the pressure off your new home search.
If part of your burnout comes from dissatisfaction with a lack of Ridgefield, CT homes in your budget, it might pay off to take a longer break. Use the time to strengthen your credit score and find ways to free up more cash for a down payment or earnest money. The stronger your finances, the better able you’ll be able to compete with others on the real estate you want.
Buyer’s fatigue is common in a competitive market, but it doesn’t have to mean you need to give up. If you’re starting to feel frustrated, consider the above tips and talk with your Ridgefield real estate agent on how to help you address burnout. Haven’t yet chosen a buyer’s agent to work with? Reach out to trusted local agent Carissa McMahon for expert assistance throughout the entire buying process.