Open House Tips for Buyers

We have shared our thoughts and ideas in the past for sellers staging their homes for an open house (see our blog post 5 Tips on Staging Your Home) but now we’d like to talk about the other side of this process, attending an open house. For first-time home buyers especially this may be a bit overwhelming. Here are a few things you should know about the experience.

  1. Know which questions you should ask. Do your research before going into the home. What maintenance fees include, renovation questions, building finance inquiries. Make a list and bring it with you if you think you’ll forget and take your time checking out the space. It goes by very fast, we know, and this is your time to really take it all in. Your buyers broker can help you come up with pertinent questions to ask as well.
  2. Don’t get caught up in the frenzy! Sometimes when a place is nicely renovated and set at the right price you’ll find yourself in a very competitive atmosphere here in Brooklyn. Don’t let that phase you. If you really love the home then go for it and listen to the advice of your buyer’s agent on what you should bid but take a breath and exam whether it’s “true love” or if you are getting swept up in the moment. It’s true that some places move quickly but you need to slow down just long enough to really make up your mind then pounce when you are sure of your decision.
  3. Know your budget! Sure, you may absolutely adore the apartment that’s a bit over your budget but really think about what you are getting yourself into. If you are going to be scrimping and saving just to pay your mortgage every month then you won’t be enjoying all Brooklyn has to offer. You want to live comfortably both in your new home and financially. Trust us, you will find another home that you love that won’t leave you eating ramen noodles every day.
  4. Keep an open mind! Ok, you walk into a space with purple walls and a kitchen that hasn’t been renovated since 1970. If it’s in your budget to renovate then don’t count this place out. Use your imagination and it could be whatever you want it to be. So many buyers don’t have that ability to envision a space’s potential, which makes it less competitive and easier to bid under asking price on these homes. Take a design expert or architect with you if you can’t quite see what the space could be.

For more Open House tips for buyers click here. Also come out to our first-time home buyers crash course on June 24th, Buying into Brooklyn: Open House Edition!

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