February 11, 2020

What Buyers Overlook in Shopping For a Home

Buying a new home can be an incredibly fun process. Looking at the area you'd like to live in, what size house you'd like to have and amenities are all a part of what makes buying a home unique. Very few other transactions can alter your life like buying a new home, and when done correctly, can leave a lasting legacy for your family. I've mentioned in another blog post that I have bought and sold several homes and know from experience how easy it is to have "rose colored glasses." Although fun, the process shouldn't be taken lightly and it can be very easy as a buyer to overlook features of a home when shopping.

I am fortunate to know exceptional real estate agents in Lexington, and in today's post I have asked for their expertise. Experienced agents can be a guide through a tricky path, helping you to navigate the best decision for your family. These agents have provided insight based on their experience on what is the most overlooked part of buying a home.

  • Ryan Hilliard: “I teach my buyers to operate under the 80/10/10 rule. If 80 percent of the home fits your wants/needs then 10 percent of it you can fix up to be the way you want while the final 10 percent is not your favorite but you can live with it then that is a good option for you. No home is perfect and you have to make some concessions along the way but overall this has worked extremely well for my clients.” Facebook @RyanHilliardHomes
  • Devon Ramage : “This might sound a bit odd, but I think one of the most overlooked parts of the buying process is actually writing the offer. A good offer is more than just price. You have to consider the closing date, the type of loan, contingencies, etc. A good buyer’s agent will call the listing agent to see what’s important to the seller. That’s how you position yourself to present, not just a good offer, but a perfect offer.” Facebook @DevonRamageRealtor
  • Chad Bowman: "Buyers sometimes overlook neighborhood amenities that can impact their lifestyle. For example, having your favorite grocery stores, restaurants, and parks close by can lead to a better overall lifestyle and can cut down on travel time to the places you go to most often." Facebook @ChadBowmanRealty
  • Jonathan Sutton : "While Homeowners Associations (HOA's) can be great in keeping up standards and appearances in neighborhoods, before putting in an offer that has an HOA check with the covenants, conditions, and restrictions before putting in an offer. Home owners need to know restrictions before they buy, including fencing, exterior expectations of property, and parking." Facebook @jonsuttonrealtor

Special thanks to each agent who contributed to this post! I appreciate your insight and experience, helping to keep homeowners away from mistakes that can be costly.