Tips to Buy a House (And Win BIG!)

See More Tips to BUY SMART

Welcome to Real Estate Real Answers Episode #15! I’m Kyle Pfaffe, local Austin area real estate agent, and if you have your own question, enter it in the comments below or contact me and I’ll make sure to answer it. If you’re thinking about buying a house right now, but – eh – maybe you’ll find one, maybe you won’t, this video is not for you. But if your goal is not just to maybe find a home but to buy a home right now and WIN BIG, then this video is just for you! Today I’m going to share with you four tips to buy a home right now and win big. Plus, at the end, I’ll share with you one tip to always make your offer stand out to sellers.

The first tip to buy a home right now and win big is to be very specific with your search. Know exactly what home you’re looking for, how many bedrooms, how many bathrooms, the layout, floorplan, 1 story or 2 story, the finishes, the neighborhood, the school district, and the size of the yard. All of those things are very important to be very specific in your search so you know what you’re looking for. Why is that important? Well, do you want to waste time going and looking at a home that you would never purchase – that would never be the one that you would want to live in and potentially miss out on a home that is the right one for you? Well, if you put in the work before you start your search and be very specific for what you are looking for, you can spend all of your time looking at the homes that are right for you and not waste any time on the homes that are not.

That leads us right into the second tip to help you buy a house and win big
and that’s to MOVE QUICK. When you have been very specific for what home you are looking for, you can move very quickly when you find that house. When you find it, don’t wait until the weekend to go and see that home – don’t wait for the open house. Go and look at it right away. Don’t waste any time. And when you find that perfect house, make an offer right away. Don’t rush to a decision, but once you are sure it is the right home, make that offer right away.  If you do that, you can potentially get your offer in and accepted before other offers come in and make it a multiple offer situation or maybe you can get your offer in before the open house when other buyers have a chance to see that home and beat you to that house.

The single biggest variable to your success buying a home is HUSTLE. If you really want to find a house and you want to win big, you have to work hard. You have to put the work in up front to make sure that you are only looking at the right houses. You have to go and look at that house right away when it comes on the market. You have to put your offer in right away, but all of that stuff, YOU CAN CONTROL! If you put that work in, you can win! That same tip applies for buyers or sellers. Sellers, if you are willing to put the work in, you can get more money for your house. You can sell quicker. You can sell with better terms. But you have to put the work in. If you do that, no matter what, you can WIN!

The third tip is to be persisitent. If you’ve looked at a lot of homes, but haven’t
found the right one, don’t give up! Stick to the plan that you have of narrowing your search and looking at the right homes and you will find the right home for you! Maybe you’ve lost out on some multiple offers or you haven’t gotten your offer in on time. Keep being persistent looking for those homes, make the offer and if you do that, you’ll find the right home and you’ll win!

The fourth tip is to buy for value. The frenzy of this market can drive some people to do crazy things, but not YOU! You’re going to buy for value! You’re going to make sure that even if it is a multiple offer situation, even if you have to move quickly, that you are buying for value. That means that you’re not overpaying for a house.

Now I told you at the end I would give you one tip to always make your offer stand out to sellers, and that is to make your offer with a three day option period. That really stands out to sellers because if they take their home off the market becuase they accepted your contract and are not going to consider any offers, that short time period means that if it doesn’t work out with you, they can get their home right back out on the market for someone else. For you, you can make a three-day option period work if you have already been working with your inspector to make sure that your inspection is scheduled for the first day after the contract has been accepted. That gives you enough time to do your due diligence on the home and make sure it is right for you and negotiate repairs and it is a huge win for the sellers as well and makes your offer stand out!

If you have a real estate question that you would like answered, put that in the comments below and I will answer it! I hope these four tips can help you buy a home and win big! Thanks for checking out episode 15 – this is Real Estate and that is the REAL ANSWER! If you are considering a move in the Austin area, contact me because I help people like you move smart.

Common Mistakes When Buying a Home, Part 1 – Taking Advice from Friends and Family

These are five common mistakes made by all kinds of home buyers, but most frequently by first-time home buyers. Not all of these mistakes are huge, but they all can make your purchase much more difficult and stressful if you do not avoid them. This is part one of a five part series the the most common mistakes. If you have any questions about buying a home and your specific situation, contact me! In this first installment, we will talk about the danger of taking advice on your real estate purchase from friends and family. Friends and family can be a valuable resource in many situations, but there are two major reasons why taking advice from friends and family can be dangerous when buying a home.

First, a number of factors make every single real estate transaction unique and complex and should be handled by someone with knowledge and experience of a professional. The unique factors include the personalities, income, credit scores , debt ratios, savings and preferences of both the buyer and the seller. Throw in the complexities of real estate law, changing home prices and market conditions and a fluid lending climate and you can start to see why it might be important to have a professional on your side. Your local real estate agents and loan officers are working in the real estate field on a daily basis and have an in-depth knowledge and real-time experience in dealing with home values, appraisals, negotiations, lender requirements, inspections and much, much more. While your friends and family almost assuredly have good intentions, they do not have the knowledge and experience you need to make informed decisions and to protect you. Also, with the real estate market constantly changing, what was true when your friend or relative bought a home, or what was true a year ago or even yesterday, might not be true today. While it is prudent to get a second opinion in most situations, you should seek that advice from another industry professional who has all the details of your situation.

Second, taking advice from friends and family when buying a home should be avoided because they do not have the same perspective as you on your home purchase. While your friends and family will undoubtedly be entertained in your house and might even stay the night on a holiday, they will not be living in your home, YOU WILL! They will not have their name on the deed, be paying the mortgage, driving your daily commute to work or maintaining your home. I am sure that while your friends and family also have excellent taste and a impeccable sense of style, when their tastes and styles are imposed into your home search and buying decision, it will make things much more complicated and cloud your ability to know what is best for YOU! If you invite a friend or family member along with you to see homes with your real estate agent, you might get more than you bargained for – a third decision maker on which home you should or shouldn’t buy!

Friends and family care about you very deeply and only what the best for you! That being said, their desire to “help” can add stress and be a hindrance when buying a home, especially when buying your first home. I hope this advice will help you when buying your home – if I can help you, let me know! When part 2 is posted, check out another common mistake, Buying the Most Expensive Home You Can Afford!

Kyle Pfaffe, REALTOR®      e:      m: 512-636-9707      w: