by Stuart Neal
on Friday, July 2nd, 2021 at 11:37am.
If you are like most people, your home buying journey will start a long time before you finally move into your dream home.
Based on industry research and observation, here’s what your journey may look like:
For one, two, or perhaps even three years, you will contemplate the dream of a new home. Perhaps you are renting, or perhaps you have a smaller home, or perhaps you have a larger home and dream of downsizing. Whatever it is, you will likely give much thought to the ‘idea’ of a new home. You may also spend a great deal of time ‘window shopping’ on websites.
For most people already living in the Edmonton area, you enter the second phase about two or three months before you purchase. As your thoughts, wants and desires mature in your heart and mind, you will start to physically visit communities where you might live to ‘try them on’. You may go for walks in the community to see how it ‘feels’. You might shop there or stop by a local coffee shop or restaurant. If you are from out of town, you may skip Phase 2 entirely and trust your REALTOR® to guide you toward the most suitable communities.
This part can be incredibly short, which surprises many potential buyers. If your behavior mirrors that of others, you may go out shopping on just one or two occasions. Based on industry research there is a 60% chance you will purchase your home on the first day and a 50% chance you will purchase on the second day out. Only 20% of home buyers need more shopping trips.
And one last thought. Please abandon the idea of a ‘perfect home’. There’s no such thing. Please read this blog to learn more: The 85% Home.