trends. But now that you’re selling and buying a home, this could be a major problem. The reason is that the housing market fluctuates over time, and sometimes suddenly and sometimes significantly; it’s just how it works. Sometimes it’s a buyer’s market, or a seller’s market, or even a neutral (balanced) market. Several factors affect real estate market trends, including the economy, interest rates, and supply vs. demand. Pay attention to the changes as well as comparable sales in the area so you know when it’s the right time to buy as well as what you can expect to negotiate price-wise.
MISTAKE #4: COMPROMISING ON YOUR NEEDS UR NEEDS
It’s unfortunately all too common for even seasoned home buyers to compromise on their needs when making an offer on a home, because they are anxious to downsize and get into their new home, or because the home-search process has been too exhausting or time-consuming, or because they’re just looking forward to the next stage of their lives and don’t want to “waste” their time looking for “the one.” Think back to when we talked about making that list of needs and wants for your next home. Now, I mentioned that while you’ll probably need to make certain concessions on some of your wants — simply because no home is perfect — you should never compromise on your needs. You wrote them down for a very specific reason! For example, if you dream of downsizing into a smaller detached home with a reasonably sized yard but the home needs to be one level, then don’t consider a home that you love but has stairs, assuming that somehow you will “manage” as you age. Similarly, if you need a two-bedroom condo so you can host grandchildren, family, or out-of-town guests, don’t settle for a one-bedroom suite and assume you’ll “work it out.”
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