LOVELAND – You may have heard real estate agents advise that you only view homes in your price range. Many buyers assume that this is because agents are not willing to spend time showing homes that their customers are unable to purchase. However, this is not the case. There is a much more important and practical reason for viewing only homes in your price range, and it’s in your best interest to do so.
Psychological aspect of home showings
In any market, homes in higher price ranges will naturally be “better” than those in lower price ranges. They will be larger, in better condition, have more features and amenities and/or be located in better neighborhoods. You can easily fall in love with a home that you cannot afford.
Homes within your price range may pale in comparison to the more expensive homes that you’ve seen. This can be very discouraging as you continue your home search. When you view homes outside of your price range, you set yourself up for disappointment. It’s therefore much better to be realistic and stick to your range.
Time and energy
The home buying process can be a bit tiring, especially in this type of market. Overall, there is a shortage of inventory. This means that the demand for listings that do enter the market is high. As a result, it may take you longer to find a home to purchase.
Viewing homes outside of your price range would only add to this problem, and could lead to buyer fatigue. It’s best for you to focus your time and energy on listings that matter, rather than wasting it on homes that you do not qualify to purchase.
Resisting the urge
In some cases you may you qualify to purchase a more expensive home, but it would leave you “house poor.” When you start viewing homes in a higher price range, it will be difficult to resist the urge to purchase them. After all, they will be nicer than homes in the lower range. That urge may lead you to make an unwise financial decision that you could later regret. It’s best to avoid the situation altogether by viewing only homes in the desired
By Suzanne Plewes, RE/MAX Alliance in Loveland. Suzanne Plewes is a broker associate at RE/MAX Alliance. Write to 750 W. Eisenhower Blvd., Loveland, CO 80537, call 970.290.0373 or e-mail firstname.lastname@example.org.