The real estate market is fairly stable, but this doesn’t mean everything always stays exactly the same. A lot of the tried-and-true home buying advice you may hear from people is no longer reliable. When you’re trying to buy a home, you should probably ignore these outdated pieces of advice people might recommend.
Your Offer Should Be Lower than You’re Actually Willing to Pay
This advice comes from the idea that you want to open up negotiations with a lower offer and then raise it slightly to accommodate the seller. However, most modern real estate agents don’t recommend that people offer 10 to 15 percent below asking price. Sellers now have a lot more power, so they’re less interested in a back-and-forth exchange. Offering a fair price right from the start is more likely to impress sellers than attempts to lowball them.
New Construction Homes Are Always the Best
For many years, people had an obsession with the newest and shiniest consumer goods, so new construction homes have been held up as the ideal for decades. However, in modern times, this isn’t necessarily true. The number of businesses building new homes is rapidly declining, so it may be more hassle than it’s worth to try building your own property from scratch. Modern buyers typically have better luck finding a good property and tweaking it with renovations.
You Should Look for a Single-Family Home with a Big Yard
The classic three-bedroom home surrounded by a white picket fence is no longer the standard home for many Americans. Instead, many people’s ideal homes now might be condos or lofts in downtown San Diego. There’s a growing trend toward picking properties based on location, so the specifications of the home itself don’t matter as much anymore.
You Need to Wait Until Prices Lower a Bit Before Shopping
This advice might seem reasonable at first, but it could end up costing you a lot of money in the long run. The problem is that when home prices are high, rental prices are also high. If you wait for prices to lower before getting a home, you’re paying money that just goes to a landlord instead of building equity for you.
You Should Pick the House with the Most Impressive Kitchen
Many buyers end up with the mistaken impression that a high-end kitchen is a sign the whole home is luxurious. A top-of-the-line kitchen might have been a hallmark of quality a few decades ago, but thanks to cheap modern construction materials, high-end kitchens are incredibly easy to fake now. Sellers know they can throw some granite countertops and a trendy backsplash in any house to distract buyers from potential flaws.
When you’re getting ready to buy your dream home, make sure to work with experienced agents who have in-depth knowledge about the latest trends in home purchases, especially if you’re looking for downtown San Diego real estate. Trust the friendly agents at 92101 Urban Living when you’re ready to find your perfect condo, loft, or penthouse in the downtown area of America’s Finest City. Give us a call at 619-649-0368 to schedule an appointment.