I- Impact: How to know when you’ve found the perfect home

In Homeowners, ABC's of Real Estate by Doug Phelps

Impact: The moment in the swing when the club strikes the ball. (Betsy’s feet slipped at impact, resulting in a poor drive.)

*Thwack!* — the sound of a club perfectly hitting the ball and sending it sailing through the air and towards the hole in a perfect arc.  That exact moment of contact between ball and club is called impact and it is a highly important factor when calculating the distance and direction of the ball.  It may not seem like this bit of contact would have much to do with one’s golf game but when it’s broken down, this is actually the moment when all of the energy from the swing is transferred to the ball and it alone determines what happens to the ball.  Impact is influenced by strength of the swing, mechanics and timing.  

Just like impact of club to ball, the idea of impact in real estate comes in the form of knowing when all the searching, waiting and hard work has transferred into knowing when you’ve found the perfect home.  

After weeks or months of waiting, both the buying and selling process can become a bit tedious and exhausting.  Especially for a buyer, it can seem as though one hundred homes have been toured and none of them were even close to what the buyer was looking for.  In that case, a Realtor can alter the search for the buyer to more closely resemble what a buyer is looking for. An Realtor never minds when the buying process goes on for a while but a thorn in the side would be if the Realtor kept showing homes that the buyer wasn’t even remotely interested in.  Often, a buyer can start the shopping process and alter the search as it goes on. For example, maybe the search started off as a ranch home near good schools but turns into a two story golf course home because the buyer falls in love with a different type of home as they are seen in person.

In a highly competitive market, it may be that the perfect home is found but if action wasn’t taken soon enough or the given price wasn’t high enough, then the home can be lost and the process must start all over.   

So what are some ways that a buyer can ensure that they’ve found the perfect home?

  • An overall good feeling: Yes, it seems cliche but many buyers report a warm feeling or peaceful feeling when they tour the home they will end up buying.  Never ignore your intuition and gut feelings, they are worth something.
  • Many criteria of the wishlist has been met: Realistically, it seldom happens that every single box is checked when looking for a home but if the top few key wishes have been identified and the home fits 80% of the remaining needs then it’s a good indication that this may be the right home to put an offer on.
  • Location is key: As the saying goes: location, location, location and it’s true!  If the location is within a manageable distance to family, public transit, school, work or anything else that the buyer has in mind then it is a strong indicator that this may be a good home to put an offer on.  A manageable distance is one which the buyer can imagine driving nearly everyday and not becoming stir-crazy.  
  • Price is not bank breaking: An Realtor or mortgage lender can help a buyer run numbers and estimate a monthly payment so that the buyer can anticipate what the new price will be and how it will impact their bills on a month to month basis.  It is never wise to become house poor, but if you have budget to play with then consider it if the home is everything you want.   
  • The Realtor has done research and this is a good buy: It is compared against similar properties in the area to have confidence that it is priced right and a good value.  If the Realtor determines this is a good investment and the numbers work, then consider buying!  
  • The home can grow with you: Maybe this home is for a family of three and the family is considering have another child or having an elderly family member move in within the next few years.  Consider these life circumstances and if the home can grow with the family. If it can, then consider buying the home now and avoid moving again in a couple years. 

When you’re ready to begin your home search, contact me at (720) 323-4176, I’d love the chance to help you caddy your home search! – Doug