In August 2022, new home sales went skyward with a 28.5% increase to 685,000! It seems we are at the beginning of an era where people are searching for new homes on a whole new level.
This means that if you are in the market to find your dream home, you're going to have your work cut out with the competition! Nevertheless, you'll surely have an advantage with the extra buying power you've earned to reach this status of "dream home buyer" over many competitors.
In this comprehensive guide, we'll arm you with 10 tactics you can use to find your dream home, even in a seller's market. Read on to learn how you can make your dream home a reality.
1. Focus on Location First
You might find the most incredible, picturesque, and exactly what you imagined dream home in your search. However, if the location doesn't fit your requirements, it will be painful to let the property go.
To avoid such dilemmas, focus on location first above all else. If you have the funds, plan various trips to locations that you think might be fitting for your dream home and lifestyle as a whole.
You might end up visiting places you went to years ago, or venture out to new pastures; we recommend both. Whatever the case, try to have an adventure with your property search and be realistic with your demands for your budget amount.
It's a good idea to have a checklist of local amenities, weather conditions, social environment expectations, and whatever else, on hand when you travel. Also, take note of property prices and the types of properties available in these locations and take a look at a few.
Then, once you've scoured the territories you're interested in, compare them all and narrow down your options. Eventually, you should be able to come to a decision on the right location.
2. Find the Features You've Always Wanted
Don't hold back on demanding the features you've always wanted. After all, you've earned the right to want such features in your home, and it wouldn't be a dream home if you didn't have them.
Get a list together of the features you want in priority order before you go hunting for your perfect property. For instance, a pool, extensive garden, vineyard, or exquisite picturesque views of the mountains or sea might be at the top of your list. You might want a top-level gym facility nearby, a large park, or excellent transport links as well.
Whatever you think you want, write it all down so you know what your fantasy home looks like on paper (not just a picture in your mind).
3. Don't Disregard Plot Size
Many people see plot size as an afterthought when buying a home that matches their dreams. The problem with this is that in the future, there may always be more dream projects that might end up in the pipeline. Many of these projects often require land, so make sure to think about this.
For instance, you might settle into your dream home for a few years and want to start a business. Or you might want horses, want to grow a large garden, grow your own produce, or add a pool, for example.
Having some extra space available when you buy a dream home is always a great idea. So, make sure to factor this in early on when planning to find the home of your dreams.
4. The Age Factor
Everyone is different when it comes to age preferences in a property, and some aren't so fussed. If you have a partner who has a different preference from you, you'll have to find a way to meet in the middle somewhere and make concessions on both sides.
One thing you can do if you buy an older property is to renovate aspects of it to look new and build outhouses to that effect as well. Renovating old properties is great because you retain some of the old charm and character.
Just remember, if you are going to buy an old property there may be some practical concerns you must address. Make sure to get the building thoroughly inspected before you move forward with older properties as there could be underlying issues not visible to the eye.
But the great thing about getting an older property is you might be able to snatch one well below your budget. This means you can make alterations that fit within your dream home criteria.
5. Stay on or Below Your Budget
If you haven't got a budget, make one right away! Then, stick to it as best you can, or things can start becoming very pricey in the long run.
For example, you might find a home that almost fits your criteria for your dream home but it's just above budget. If you neglect to follow your budget, you could end up spending a quarter or even half the price you paid for the property to get it up to standard.
This extra money you spend then might affect your other financial plans in the long run and in a worst-case scenario you end up selling the home as a result.
If a property almost fits the bill but strains your budget, keep searching. When you play the numbers game, you'll be surprised by what's out there and how much bang for your buck you can get while still fulfilling all your checklist goals.
6. Have an Adaptable Mindset
Some people have strict criteria for their dream home but then during their search come across things they never thought they appreciated or even knew about. Having a willingness to be adaptable when something strikes you in a profound way in a home is something to embrace.
An example of this might be that you wanted a rural home that's not too far of a drive from the city. Yet, you could see an astonishing property that's so rural, but the small local community surrounding it might suit you more than ever.
Another example might be that you wanted a pool, but the sea by the beachside property you're checking out might seem so inviting. You might think what's the need for having a pool when I can swim in this beautiful ocean whenever I like?
7. Use a Reputable Real Estate Marketplace
Having the right information on hand and professional help can make your dream home search much more enjoyable. At Hommati, we provide you with the technology to help you visualize a property in ways that others can't, in the comfort of your own home.
We have virtual reality tours, aerial videos, HD photos, professional floor plans, and so much more to help you visualize many of our listed properties. Having quality information like this on hand makes it easier for you to distinguish which homes are worth venturing out to look at in real life, and which are not.
It's no wonder that real estate agents come to us for our expert services and you can too if you're searching for your dream abode. So far, we can say 3.4 million buyers have used hommati.com to search for properties in a meaningful way.
8. Don't Neglect the State of the Market
The market in general might not be so favorable for a buyer at the time of reading this. Yet, different locations throughout the US will have their own little housing market bubbles. These bubbles might not fall in line with the larger national outlook.
So be aware when you are searching for a property of the state of local housing markets. A good way to learn about this is to contact local real estate agents in the areas you are thinking of buying and ask their opinion on what's happening. You can also do a little online research about the area and property prices over the last year or so to compare with current prices.
9. Don't Focus on all the Negatives
It's all too easy to walk into a place and become fixated on something you hate. It could be the decor in general or some badly utilized spaces. Whatever bugs you about a place, try to see past it at first and look at all the positives it has to offer.
Then, if you think there are plenty of positives to a place, consider how you can resolve the negative aspects. If the property is below your budget, you'll have room for redecorating or renovations. As well, you might end up getting a bargain as the negative points you overlooked might have made various other viewers say no to the place and move on.
10. Think About the Future
Ask yourself, are you looking for a dream home for your situation now, or one that will suit you for many years to come?
For instance, you could be a bachelor and your dream home is a penthouse condo in the heart of the city. How long do you think it will be before you settle down and the macho condo you've got doesn't quite fit into the rural family living you crave when you have a partner and a child on the way?
Be realistic about what you're looking for as much as you want all the trappings and wow factors. And, of course, a major question to ask is: will the home serve me well for a good night's sleep (you'd be surprised how many people don't think of this)?
Find Your Dream Home With Confidence
If you take into account all of the advice above, we're sure you'll find your dream home with much more confidence and purpose in your actions. Get your budget in order, focus on locations first, and make sure you use a great marketplace.
We at Hommati take pride in the technology we use to provide exceptional tools and imagery for buyers and real estate agents to make use of. If you want to learn more about the various services we offer, head over to our website here.