Richmond Homebuyers: Are You Being Realistic?

Richmond Homebuyers: Are You Being Realistic?

Embarking on the Richmond home buying process can be a long journey. Richmond homebuyers often face intense pressure as they seek out “the one.” Implied in this “perfect” Richmond home is a list of “needs” which when added together can make it difficult to find under one roof.

When you are looking for “perfect” you usually find “frustration” much faster.

So how can Richmond homebuyers recognize whether or not they are being unrealistic in their new home search or if you just need to continue searching?

Here are a few ways Richmond homebuyers can uncover the problem with your home search.

1. Being Inflexible

When Richmond homebuyers are starting out they often create a “wish” list outlining what they want in a house. This is a great place to start, but your list should not be set in stone.

Your list of “needs” might not be able to change. After all, if you need 4 bedrooms, being overly flexible and settling for a 2-bedroom house will most likely be the wrong decision. But when you are unwilling to compromise on your “wants” you can make the process very difficult.

Understand what your true priorities are in the new home and where you are being stubborn. Otherwise you could be searching in vain forever.

2. Know the Difference between “Starter” and “Forever”

Traditionally, first-time Richmond homebuyers would look for a “starter home” to help get them going. Starter homes typically cost less money, which allows you to build up equity in the home quickly.

However, the trend has turned into homebuyers bypassing starter home in favor of their “forever” homes. They want to buy and get settled into their Richmond dream home from the start. While there is nothing inherently wrong with that, homebuyers who are taking this path just need to understand that might be a longer process.

Being concerned about your Richmond dream home as your first home can add unnecessary pressure to the mix. If you are first-time homebuyers do not overlook the value to be had in beginning with a starter home. Once you grow out of it and the time comes to move into that dream home, you will be all the more prepared to do so.

3. DIY TV Shows are Not Realistic

Thanks to the rising popularity in “reality” tv shows, Richmond homebuyers believe that the process of finding and buying a fixer upper is quick and easy. This is not the case, especially if you are not well-versed in the process.

When it comes to buying a fixer upper to rehab and make your own, understand that the process can be very expensive, take a long time and is almost guaranteed to be much more difficult than the TV show editors make it out to be.

If you have an entire team and the budget to make it happen, then get started on finding your fixer upper. However, if it will be just you and your partner taking on the project, make sure you know what you are in for.

Buying a new Richmond home is as much a mental exercise as it is anything else. When homebuyers are going through the process it can help to remain flexible on your list of wants versus needs, be mindful of the differences between a starter home and a forever home, and understand that DIY is not always as simple as 1-2-3.