In this “hot” Pittsburgh real estate market, buyers are competing to have their offer accepted by the seller. We are experiencing a record low inventory, which means fewer homes for sale than buyers are looking to purchase.
Everyone understands that buying a home is a big decision. It is one of the most significant financial decisions you may ever make.
Buyers are finding the competition for a great home that hits the market is quite intense. You have to be ready to take action very quickly. It is hard to think through rationally when you have to make such quick decisions.
Anyone can make mistakes. Let’s take a look at some that buyers have made in the past so that you can avoid repeating them.
- Buying a home without researching the area. Have you done your homework to know where you want to live? Explore the areas of interest for their economy, parks, school districts, and crime rates. You can do a Google search and find answers to just about anything. Don’t overlook the school district even if you don’t have children in school. It can be important for appreciation and resale.
- Buying a home that doesn’t fit your lifestyle. Think of the things you like to do. Do you need a big yard for entertaining friends and family? Do you dread yard work and want a small lot or perhaps a townhome community where the work is done for you? Are you planning on starting a family sooner than later? Many factors go into deciding what that perfect home will look like for you.
- Buying a home you can’t afford. This sounds like a common-sense decision, but it does happen. You need to look at more than the asking price when deciding whether you can afford the home. Consider utility costs, homeowner association dues, taxes, insurance, and regular maintenance of the property.
- Buying a home without doing your homework. Don’t waive your right to inspections unless you are an expert in the home construction field. It is not that sellers try to hide things from the buyers when completing their disclosures; most often, they just don’t know there is an issue. You want to conduct the home inspections to know if there are any large ticket items that will need to be repaired or replaced and any safety issues that you should have addressed.
- Not working with a Realtor®. You may have driven by a For Sale by Owner that looks appealing and contacted the seller directly. Did you know that most For Sale by Owners will work with local agents? Or, you may feel that working with the listing agent will save you money. That is not true. The listing agent is working on behalf of the seller, trying to get them the most money possible for their home. Buyers can hire a real estate agent to work on their behalf at no additional cost; the seller pays the real estate commission. Work with someone who will put your best interest first!
Your real estate agent will help you walk through the decisions you will need to make as you prepare an offer on a home for sale. Don’t be shy about confiding any concerns you have with them. Your agent works on your behalf and wants the best for you.
Our days are full of working with buyers and sellers, learning the local market, and educating ourselves on our area trends. Allow us to use our expertise to help you decide what will be right for you now and in the future.
The Judi SAYHAY Team is always ready to help you with your real estate needs. Our buyer’s agents can help you maneuver the buying process.
Contact us at 412-303-3600 or SAYHAYTeam@gmail.com.