TAKE YOUR TIME
Be prepared for the home-search process to take considerable time and energy. In fact, sometimes it can feel downright exhausting. On the other hand, some buyers find their dream home right away. But don’t settle early and don’t settle for a home that doesn’t feel right just because you’re tired of waiting for the home that’s right for you. The average home buyer will visit 10 homes over 10 weeks before they find “the one” that inspires an offer. But not all buyers’ experiences are similar. Some literally make an offer on the first home they check out because it meets all their needs and most of their wants. Other buyers aren’t so lucky, or they feel uncertain and wish to take their time and visit dozens of homes before making an offer. According to the National Association of REALTORS® (NAR) 2017 Profile of Home Buyers and Sellers, the typical search period remained the same from the 2016 report, at 10 weeks for a buyer to find a home. From 2009 to 2013, the usual home-search process took 12 weeks. Buyers generally looked at a median of 10 homes before finding a home they wanted to purchase. For 2017, buyers in the south and west in the U.S. searched for just 8 weeks, while buyers in the northeastern U.S. looked for a home for 12 weeks.
FINDING “THE ONE”
In an article on Realtor.com by Jeanne Sager, she points to three very different home search experiences to prove that getting to homeownership does not follow a one-way path. Her first example is Becky Dacona and her husband, who checked out just one home — yes, only one — before making an offer and then purchasing it. This isn’t standard, but it does happen. How do these buyers know that something better isn’t out there?
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