Two Big Traps for property Buyers - and how a Buyer's Agent can Help
The two areas where I find buyers being trapped are becoming emotionally attached to a property, and not allowing numbers (logic, data) to drive decisions.
Most home buyers fall in love with a property before they have analysed it. They view it online, like it, inspect it, love it and assume (and want to believe) that all is perfectly well with their newfound love.
But property purchasing is an expensive decision that is costly to make and even more costly to change, once the purchase has been made.
We weigh up holidays, cars, schools and jobs using data and numbers. We look at what we want and need and go searching in the places that will give us what we are after. We really hone in on finding what we want and only then to do we consider falling in love with it.
But for most property buyers, it seems to be a reverse process fall in love, then stop and think .... and get massively disappointed.
For some people - particularly those who feel exhausted with their property search - the desperation to buy something and the emotional attachment to this particular home makes it difficult to accurately assess and use the data on the home that may support buying - or not. What sort of data? I'm referring to a strata report, building and pest report, property appraisal by an unbiased buyer's agent, independent inspection and thorough due diligence on the property.
When you work with a buyer's agent, you can avoid becoming emotionally attached to a home that might not be right for you because the buyer's agent assesses all properties before presenting them to their client. In this way, clients are shielded from the emotional roller coaster that is buying property.
Which brings me to the next point: letting the data inform the decision. Purchasing property is all about the numbers and data. You absolutely don't want to buy a dud, even if you happened to fall in love with it. When the numbers don’t stack up, your buyer's agent will know, and when you are not emotionally attached to the property, you can heed their advice.
Melissa Maimann is a Licensed Real Estate Agent and Buyer's Agent in Sydney. She assists home owners and investors alike with a responsive, accurate and affordable service that empowers property buyers to make informed purchase decisions. Melissa's service is diligent, efficient and accurate. If you need expert knowledge and advice for your next purchase, don't hesitate to make contact.