If you are considering purchasing a new home right now, I’m sure that you have heard crazy stories about what is happening on the market. Homes are selling for well over listing amounts, appraisals are being waived, and a few local home builders have even stopped taking on new clients until the fall. Of homes that closed over the last week in Lincoln, Nebraska; the average selling amount was 103% over the listing amount. It is difficult to stay positive in today’s challenging real estate market as a buyer.
So while it is a fantastic time to sell, I wanted to touch on another side of the story — the reality that many buyers are left with unaccepted offers time and time again. The feeling of defeat is not fun, and also is not a fun message to bring back to a client. When a client falls in love with a home, but walks away without the keys; a part of my heart breaks too. However, today I wanted to touch on a couple of areas to focus positive energy while searching for + landing your dream home:
Focus on saving to bring more cash to the closing table.
Currently buyers are needing to get creative with their resources to win offers. Having additional cash to bring to the closing table is a great way to stand out against multiple offers. Whether that cash ends up covering additional closing costs or even helps to close an appraisal gap, building your reserves allows you to get creative with your offer’s criteria. It’s crazy, but I’ve even heard of buyers offering restaurant gift cards as a way to entice sellers to accept their offer.
If you’re interested in brain storming a few ways to get creative with your offer get in touch, or give me a call. I’m happy to share insight to what successful offers look like today and help you determine potential savings goals.
Consider properties that may not have originally been on your wish list.
Across the board, inventory is low and housing style options are slim. Over the past couple of months more homes have been hitting the market, but they are going under contract just as fast as they are listed. I’m sure you’ve all seen an awesome listing come through your inbox and then almost by the time you follow the link, it is sold.
Because homes are selling so fast, it might be time to consider properties + locations that may not have originally made your wish list. It is difficult to tell how a property will make you feel until you actually tour it. A home can also look fabulous in a photo then turn out to feel smaller in person or vise versa! Sometimes homes have the potential to become your dream home with a few projects. And sometimes exploring new areas of town — or the surrounding communities — leads to discovering new favorite businesses and new relationships!
Opening up your home search criteria evens out the playing field a bit and creates the opportunity to be surprised. You many even find that you end up in a property even better than you had imagined.
Reimagine your current space.
This may seem counter-productive to finding a new home; however, living in a space that is uninspiring is too. If there are specific things that you don’t love about your current home, identify what they are and why you don’t love them. Then consider these ways to freshen up your space:
- Declutter + Deep-Clean Your Home
- A clean + decluttered home creates a space that is comfortable and promotes a clear and refreshed mindset.
- Reposition Your Furniture
- Moving a few furniture items can really make an impact on the overall flow of your home.
- Freshen Up Paint
- I will forever be amazed the impact of a fresh coat of paint can have on a space. Don’t believe me? Try it for yourself and prepare to be amazed.
- Consider Different Lighting Options
- Check the box stores like Lowe’s, Home Depot, and Menards if you have fixtures that are out-of-date or don’t align with your style. New Light fixtures can easily be swapped out with your existing fixtures.
- ProTip: The box stores have more inventory online. Also, don’t forget to check our local Marketplace. I’ve recently scored some awesome fixtures for cheap.
- Check the box stores like Lowe’s, Home Depot, and Menards if you have fixtures that are out-of-date or don’t align with your style. New Light fixtures can easily be swapped out with your existing fixtures.
- Create an Inviting Outdoor SpaceÂ
- I don’t know about you, but having an outdoor space is critical to my happiness. Connection to the environment is key to a comfortable living space. Creating or finding an outdoor space on your property may be just as inspiring as the day you moved in.
If you’re struggling to envision a renewed space, call me or complete this form. I’ll help bring your space back to life. My goal is to help you feel inspired in your space, whether you just need help picking out paint colors or would like to consider a larger remodel project.
Ultimately, today’s market is no joke. If you are a buyer that has been experiencing market-fatigue, I hope this article has inspired to stay positive in today’s challenging real estate market. Know with some strategic planning + thinking outside of the box, everything will fall into place.