Before you buy in this market, you need to know why. I walk through the three lists every serious buyer should bring to the table.
The reality right now is that rates are still pretty high. If you own a home at a 2.5, 2.75, or 3% interest rate and you’re thinking about trading it for a better kitchen, a bigger yard, or a different school system, you’d be paying today’s rates in the mid-to-high 6% range instead. That rate difference is significant, which means the price difference on your own home is already significant. If you went out and bought your current house today, you’d pay a lot more per month, and if you want something better on top of that, you’ll pay more still.
Start with why you’re buying. So the thing I really caution buyers about is getting honest about why they’re moving in the first place. Is it because you simply don’t like where you live, or is it because of a life event, a marriage, a baby, a divorce, a downsize, a death, a job change, something that genuinely changes your home equation and means you have to move? I’ll help anybody, but buyers who have to move are far less affected by rates, because the change isn’t optional for them.
People move away from pain or toward pleasure. That’s a line I come back to often, and it explains a lot about who’s actually buying right now. The buyers I’m seeing succeed are the deliberate ones who know what they need, and part of my job is reminding them why they’re doing this in the first place. This isn’t really a market for casual buyers. If you’re paying cash and rates don’t affect you, that’s one thing, but if you’re just a little bored and think you need a new house, you can probably remodel your current home instead of financing something new at today’s rate difference, especially when prices are still climbing and your monthly payment would jump.
The three lists I ask you for. When you sit down with me for a buyer strategy consult, I’ll ask for three things: your must-have list, your would-be-nice list, and your do-not-want list. Then I’ll keep asking the questions that actually matter. What is the problem we’re trying to solve? What are we looking for? What are the showstoppers, the things that simply won’t work for you? Those answers are what turn a vague home search into a real plan, and they keep us focused on what you’re truly after.
Reluctance usually tells me something. When a buyer is hesitant to write an offer, I don’t push. That hesitation is a useful signal that maybe they’re not in enough pain to move, or we haven’t found the right fit yet, or they’re really just looking for now. That’s completely fine. Those casual lookers often become buyers the moment we find the perfect property. But the buyers who have to move are the ones I most want to talk to, because this market is tough, and that’s exactly when you need someone who knows how to negotiate and read the market, and keeps a pulse on homes before they hit the market.
If you’re thinking about buying and you’re not sure where to start, don’t know the numbers, or just want to understand what the outcome would really look like, give me a shout. This kind of decision is a lot easier with someone who’s been through it many times over, and understanding today’s rate math is a big part of making the right call. You can reach me at 503.522.0090, email me at sarita@asksarita.com, or visit blog.asksarita.com. Let’s talk today. I’d love to help with any questions you have.
