Perusing an online real estate listing can be nothing less than addictive. You have probably spent time scouring the internet, ogling homes for sale that you do not intend – or cannot afford – to buy. Because it’s fun!
However, would you ever hop in the car and go attend an open week in person, even if you are not ready to make an offer? An open week is an important step in every home-buying journey – it can provide valuable information for your future home buying experience.
Whether you are potential buyer searching for homes for sale or you are simply curious, we believe you should attend an open week, even if you are not ready to buy. Here are six solid reasons to hit up an open week;
Open Week gives you home-buying practice
Buying a home is always a big deal, even if you have done it before. It takes attention to detail and time-consuming research to perfect your home-searching skills. However, attending an open week allows you to practice critical home-buying abilities and give you an idea about the ins and outs of the local housing market.
You get comfortable with the home search process and learn what to look for during a home tour. Also, finding out the prices of comparable homes and current trends at open week can be valuable information if you are thinking of buying a house or putting your home out on the market.
You quickly understand the kind of home you can afford
Suppose you are looking for a big, nice home in the neighbourhood of your dreams. You believe it is a realistic goal and you get excited when you see an online listing that meets your expectations.
Asking prices might be in your range. The photos might be eccentric. Unfortunately, you do not always figure what you can afford out until you are really deep in the process of house hunting, perhaps with your heart set on a dream home that will drain your finances and make you house-poor.
However, until you attend the open week, you won’t really know what you are getting for the price. It helps you get a grip on what you can realistically expect to find in your budget.
An open week is an effective way to develop home-buying instincts.
You get to see the real estate agents in action
If you are not a serious home buyer yet, you probably do not have a real estate agent. When it is time to choose an agent to help you buy or sell your home, your open week experience will help you make a wise choice.
Even if you do not find your dream home, you might actually meet your dream agent. What a better way to interview the candidate who could represent you on either side of the transaction than by seeing them in action?
An open week presents a great opportunity to get multiple face-to-face appointments with potential agents. Be alert to whether the agent engages you when you first come in or he is too busy to acknowledge to help you.
Get a feel of the neighbourhood
If you are looking into buying a house in a new unfamiliar community, browsing for a few months can tell you a lot about the demographics of the neighbourhood and what the area has to offer.
Plus, checking out a bunch of open houses will give you a sense for who primarily lives there – i.e. families, singles or retirees, whether the neighbourhood is abuzz with block parties and other events, or if it is mostly quiet.
You will also get to meet other prospective buyers, and learn where they are relocating from and what they are looking for in their new community.
Of course buyers do some in every demographic, but sometimes the patterns can be surprisingly different.
You get to meet your competition
If you are putting your home on the market, it is important to know the optimum selling price.
Traffic at an open week is the right gauge to determine whether the sellers have found a sweet spot with their price – since a new listing attracts multiple visitors when priced correctly.
Throughout the open week, you can diligently find out what similar homes look like, their condition based on maintenance, amenities and other features.
On the other hand, if you are a buyer, the number of visitors will help you determine how quickly you might need to pounce when you decide you are ready.
An open week can motivate you to start your home buying process
If you plan to buy a home but you have been putting it off, an open week will motivate you into action. There is a high chance you will fall in love with a home during the open week tour. However, you cannot make a legitimate offer without a mortgage pre-approval.
You might not even know how much you can afford. The disappointment, however, should motivate you to be prepared for the next open week.
Our real estate agents can help you find the home of your dreams and make the buying or selling process as easy and stress free as possible. Drop in during our open week at Kitisuru Terraces to have an experience with us. To secure your spot, reach us at: 0724 – 002 605