Every time I get a call from a new client or a referral from a friend, I typically like to meet with them one on one in order to get a better idea of what they are looking for. During our first meeting, I learn about their expectations and get to know their "want" vs."need" list when it comes to what they're looking for in their new house. I also discuss what they need to do to prepare for the home buying process. Sometimes we start house-hunting immediately, sometimes they need to do a little more prep-work (getting financing in order etc) before we can look at places.
The 'Want Vs. Need' process is typically very interesting. Here is an example:
One client I met with recently said:
OK... I would like to spend less than 300K on a place. I don't have a lot of cash, so my preference would be that the seller pays for my closing costs. I would like the place to be in Northwest DC. I would prefer a condo with fees less than 300 dollars per month. It would be nice to have a full-service building with a doorman, and some amenities (but the condo fees have to be low!) I have to be able to walk to metro. Oh.... and it would be nice if the condo was GREEN!
We were eventually able to score a place with everything on her list- a darling condo in Logan Circle at the Alta (which is a green building)- and the seller paid for her closing costs and contributed towards her down payment. For a nice sum of 254K. If you had asked me if there would have been a place that met the above price/concession/location/terms and features criteria a year ago- I am not sure it would have been possible.
However, this is a unique market in that there is a huge inventory of houses and condos for sale. You have the luxury of choice. If your 'dream place' does not work out the first time, there will be another 'dream place'. Leverage the fact that there is tons of inventory. Start attending Open Houses to get a better idea of what is important to you. Alternatively, arrange to do a 'house tour marathon' with me, to get a better definition of what that criteria will be. It is a BUYER'S MARKET. You have choices, and you can drive a hard bargain.
If you would like to schedule a 'no-pressure, get prepared, get educated' consultation meeting with me- please e-mail me on ati@districthomebuzz.com
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