12 Things Realtors Wish You Knew Before Starting Your Home Search
Starting the search for your dream home can feel like taking the first step on a long, winding road. It’s an exciting experience but can also be overwhelming, especially if you’re unsure what to expect. While many have a clear idea of their dream home, there are several less obvious factors that can affect the process and your future well-being. Realtors often have advice they wish every potential buyer knew before diving into the market.
Some key considerations include understanding the housing market, approaching the process realistically, and ensuring you’re financially prepared. To make the process smoother (and yes, even fun), here are some tips that can save you time, energy, and help you find the right home.
Know What You Can Afford
Before falling in love with a charming bungalow or a sleek condo, take a good look at your finances. According to the National Association of Realtors (NAR), 29% of homebuyers in 2023 failed to accurately predict the total costs of homeownership. Keep in mind that the agreed-upon price isn’t the final cost – you’ll also need to account for closing costs, property taxes, insurance, and, if the house is in a community with an HOA, those additional fees.
Real estate agents recommend getting pre-approved for a mortgage before you begin your search. “Pre-approval gives you a reality check on your financial capacity and signals to sellers that you’re a serious buyer,” says Jennifer Matthews, a 15-year real estate agent. Knowing your budget from the start helps avoid disappointment down the road and gives you a solid foundation for your search.
Location Is More Important Than You Think
Even if you adore a house, it’s not the right one if it’s in the wrong neighborhood. Agents consistently stress that location should be your top priority when searching for a home. The area you live in can greatly affect your daily life—from commuting to work, to school proximity, and even the convenience of your local coffee shop.
Additionally, homes in walkable neighborhoods tend to retain their value better over time. According to Redfin in 2022, homes in walkable neighborhoods sold for 23% more than those in car-dependent areas. The location you choose not only shapes your lifestyle but also determines the potential return on your investment in the future.
Be Flexible With Your Wishlist
While everyone wants their ideal home, being too rigid with your list of must-haves can limit your options. Instead of focusing solely on aesthetics, realtors advise buyers to prioritize the essentials. A stunning kitchen might be appealing, but an extra bedroom or proximity to good schools could be far more important.
“Many buyers change their minds after viewing several homes,” says Mike Johnson, an Atlanta-based realtor. “The key benefit of being open-minded is that you may discover options you would otherwise overlook.” Think of your wishlist as a guideline, not a non-negotiable set of demands. Flexibility is key in this process.
Research Is Your Best Friend
While your realtor is a valuable resource, doing your own research can provide another level of insight. Learn as much as you can about the market, property prices, and the neighborhoods you’re interested in. According to Zillow’s 2023 Consumer Housing Trends Report, buyers who were well-informed tended to negotiate better deals and were less likely to encounter surprises.
Websites, open houses, and local community groups are all excellent sources of information. Don’t hesitate to ask your realtor questions—they’re there to help. The more informed you are, the more confident you will be throughout the process.
Expect Competition
Especially in hot markets like tech or auction-driven areas, competition is a given. In well-established neighborhoods, homes often sell within days, sometimes even for more than the listed price. According to Realtor.com’s 2023 report, over 40% of buyers have had to engage in bidding wars in cities like Austin, Texas, and San Diego, California.
“If you find a home you love, don’t waste time—but don’t rush either,” advises Linda Harper, a Los Angeles-based agent. “Have your pre-approval in hand and be ready to make strong offers right away.” In some cases, writing a personal letter to the seller can also be effective, though not all markets encourage this. When competition is fierce, flexibility and speed are essential.
The Importance of Inspections
The excitement of finding the perfect home can sometimes overshadow the importance of a professional inspection. No matter how ideal a property seems, it’s crucial to have it inspected. The American Society of Home Inspectors (ASHI) reports that 79% of buyers who purchased homes without an inspection wished they had done so due to unexpected repair costs.
Listing agents strongly recommend inspections as they help buyers identify potential issues, such as faulty wiring or hidden water damage. These inspections can also provide leverage for negotiating a better deal. Skipping this step is risky—you’re essentially making a decision without all the facts.
Timing Can Be Key
The housing market can fluctuate, and timing can play a significant role in securing a great deal. Spring and summer often offer more inventory, but also come with more competition. Fall and winter may present fewer options, but you might face less bidding war. The ideal time to buy depends not only on market conditions but also on your own personal situation. Understanding both will help you make the best decision.
