5 Holiday Homebuying Mistakes

1. Landing yourself in holiday debt

Your kiddos are insisting on a Hatchimal, your wonderful husband deserves a new 100 inch projection TV, and Mom and Dad desperately need a new dining room set. But don’t rack up new debt buying everyone gifts. Even if your credit is in good standing, suddenly racking up a ton of holiday shopping debt will change your debt-to-income ratio and potentially negate your pre-approval. Budget for your generous splurges ahead of time. Or you know what? Tell your family they’re getting the best gift of all: a new home.

2. Failing to use your imagination

Yes, the property looks a bit … drab. But don’t all homes seem sad in winter. Don’t dismiss a property because of bare tree limbs and dead grass. Imagine what the home could be in all its springtime glory. Pretend the trees are blooming and the rose bushes are covered in color. That’s the mental picture you should use to make your decision.

3. Lacking flexibility

House hunting always requires a certain level of spontaneity—you have to be ready to pounce as soon as you hear a place fitting all your criteria is on the market. But when the weather’s against you, make sure to loosen your schedule even more. Flexibility is sometimes even more critical during the winter season. Wet and rainy weather can cause unexpected delays, and buyers need to be willing to plan viewings during the busy holidays. Yes, you’re excited to eat leftovers and watch college football, but if 2 p.m. the day after Christmas is the only time you can check out your dream abode, you might have to skip a second serving.

4. Assuming you’ll automatically score a sweet deal

In the winter (generally speaking), home prices are lower. Sellers are motivated. The competition’s bundled up inside, warming their hands by the fire. Bidding wars are a vestige of the summer months. Now’s a great time to buy, right?Unfortunately, the math doesn’t necessarily work in your favor. A lot of buyers assume they can get a better deal in winter because fewer people are competing but that’s not the case in the North Texas market. Inventory is lower, so the number of people who are competing is similar. No, prices may not rocket to the sky-high levels seen when the weather is warm. But if you expect to score a bargain-basement home deal, you might be disappointed.

5. Lowballing your offer

If you don’t get a discount on a home during the winter months, maybe you think you can create your own discount with a lowball offer. Sellers listing their homes in the winter must be desperate to sell, the theory goes. Think again. Not only can a lowball offer be off-putting to the seller, but sometimes they can be so offended, they will be closed to a counteroffer.

In today’s competitive Real Estate market it is important for Buyers to have every edge possible when looking for a home. A Real Estate Agent who is familiar with your specific search area and is experienced in negotiating the best deal for his or her client is among the most important. As a Buyers agent, our responsibility is to put the Buyers best interest #1, provide the Buyer with sufficient information to purchase a home and expertly negotiate on the Buyers behalf. Negotiating is tricky business and real estate contracts can be hard to handle. When you get into a difficult situation as a Buyer it can really pay off to have an experienced professional by your side.

Renee and her team has over 30 years of Real Estate experience in the Dallas Fort Worth area negotiating hundreds of transactions every year on behalf of Buyers and Sellers. Apart from hearing about listings before they are available to the public, our team of Buyers agents can also: provide comparable sales data from the local MLS, pull property profiles reflecting sales history and neighborhood demographics, suggest pricing strategy, prepare a strong offer that presents the Buyer in the best light based on market conditions and agent interaction/networking, review documents for loopholes and obtain disclosures.

For more information on how a Renee Mears Realtor can help with your home search please fill out the contact form below and one of our agents will be in contact.