Ignite FB Tracking PixelShould You Overspend to Acquire Your Dream Home? - Team Bowers

Should You Overspend to Acquire Your Dream Home?

by Team Bowers 11/24/2019

Once you discover your dream house, you probably want to do everything possible to acquire this residence. However, it is important to remain calm, cool and collected as you navigate the homebuying journey. Because if you act too hastily, you risk overspending to purchase your ideal residence.

Let's face it – the temptation to submit an offer to purchase your dream home that may require you to break your homebuying budget can be overwhelming. Lucky for you, we're here to help you consider your offer to purchase closely and ensure you provide a competitive homebuying proposal that won't force you to exceed your budget.

Now, let's take a look at three tips to help you craft a competitive offer to purchase your dream house.

1. Analyze the Housing Market

The real estate market may have major ramifications on the offer you submit to acquire your dream residence, and perhaps it is easy to understand why.

For example, if you are operating in a buyer's market, there likely is an abundance of sellers and a limited number of buyers. If you find your dream house in a buyer's market, you may be able to acquire this residence by submitting an offer to purchase at or near a seller's initial home asking price.

On the other hand, navigating a seller's market may prove to be tricky. In a seller's market, there is a shortage of high-quality houses available and an abundance of buyers. Therefore, if you want to purchase your dream residence in a seller's market, you may need to submit an offer to purchase at or above a seller's initial home asking price.

Consider the housing market closely as you prepare an offer to purchase. If you can differentiate a buyer's market from a seller's one, you can submit an offer to purchase your dream house that falls in line with the current housing market's conditions.

2. Weigh a Home's Strengths and Weaknesses

When it comes to putting together a competitive offer to purchase, it helps to consider a house's strengths and weaknesses. That way, you can account for the costs of any potential home repairs or improvements in your homebuying proposal.

You should consider a home's location as well. For instance, a home in a remote town may prove to be more affordable than a comparable house near a big city. And when you craft an offer to purchase, you should always account for a house's location.

3. Consult with a Real Estate Agent

A real estate agent can help you submit a competitive offer to purchase at any time. This housing market expert is happy to provide a recommendation about how much to offer to acquire your dream home. And if you have homebuying concerns or questions, a real estate agent is ready to respond to them at your convenience.

Want to buy your dream residence? Use the aforementioned tips, and you can avoid the risk of spending too much to acquire your ideal house.

About the Author
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Team Bowers

1. Bowers Realty has the largest selection of “Hot Properties”.
Most buyers prefer to look at “Hot Properties” instead of” leftovers. “That’s why buyers want to have early access to new listings (“Hot Properties”) within a few hours (or minutes) after they “hit” the market. Since one out of every ten new listings in the Detroit Metro Area is a Bowers Realty listing, buyers with a Bowers Realty agent have first choice at selecting from the largest selection of “Hot Properties” available in the Detroit Metro Area.

 

2. Bowers Realty offers you a more experienced team.
For something as important and as complicated as purchasing a home, most buyers desire a company with an experienced team of Realtors to assist them. Bowers Realty has over 40 years in the real estate business.

 

3. Bowers Realty puts its customers first. YOU get first choice.
Bowers Realty’s policy requires all of its listings be offered to its customers FIRST? Bowers Realty agents are not allowed to purchase their listings for investment purposes until those li stings have been offered to our customers for at least three days. You’ve heard that complaint, “Well, all the hot properties are snapped up by the real estate people.” At Bowers Realty, YOU get the first choice.

  

4. Bowers Realty increases your odds of closing on time.
You have found your dream home, negotiated the contract, and are making plans to move. You have scheduled the movers, time off from work, family and friends to help you move, day ca re for the kids, and all the details. Now, after all your hard work, what are the odds of your contract closing on time? In the Detroit Metro Area market. your odds are less than 50/50 that your contract will close on time. If you are working with a Bowers Realty agent, your odds increase over 90%. Last year Bowers Realty closed 90% of 300 contracts ON TIME!

  

5. Bowers Realty depends on YOU, “The Satisfied Customer”.
Bowers Realty is owned and managed by Darralyn C. Bowers. Mrs. Bowers has made a substantial investment in Bowers Realty and our community. She makes sure her staff is well trained. She impresses on all her Realtors that their future success is dependent upon YOU, “The Satisfied Customer.”