A common question from home buyers is, "How many listings should I see before making an offer?"
Your agent should show you everything available for sale that meets your requirements. Through loan preapproval and our comprehensive initial consultation process, we're able to help our clients identify clear goals about what type of home will work for them. This includes the type of property (condo, single-family home, TIC - Tenancy in Common, loft, multi-unit, etc), price range, size, number of bedrooms & bathrooms, parking, and location (specific neighborhoods and MLS sub-districts).
Don't decide on a home until you feel that you have seen enough listings to pick the best one. For some home buyers in San Francisco, this means seeing 5 properties while for others, it's 20.
Bear in mind that San Francisco is a competitive and active real estate market. If you wait too long or are too picky, you are likely to lose the best home for you or get priced out of the market. Often, it takes more than one try to be successful, meaning that you may not be successful with your first offer on a home.
As a client of mine, who learned the hard way how to make a decision and write an offer, said, "It's San Francisco. The market won't wait for you!"
By clearly identifying what's most important to you about buying a home at the beginning (and getting fully preapproved for a home loan), you are going to save a lot of time because we'll be able to weed out the listings that are not the right fit.
Sometimes, this process of getting your ducks in a row can work too well...and you'll find the best home on your first day out home shopping! This is both a good and bad thing and may lead to a feeling of panic. What to do? You love the house but you just started looking! It's crucial to be careful but also not let your anxiety get in the way of your dreams. It could be that the home is the right one...or you could just be overly excited or impatient.
Don't worry, we'll walk you through the process and make sure you see the inventory of homes for sale that is right for you. When you buy a home in this calm, methodical manner, you'll find that it's much easier to make a good decision for yourself.
See you at the Housewarming Party!
