While oftentimes house hunting is a stressful experience, touring houses also brings a level of excitement and adventure to many home buyers, especially first-time buyers. As you start to schedule tours, walk through homes, and envision your life within the walls of each house, excitement is often clearly evident as you daydream of what could be within each home. While you should indeed be excited when purchasing a home, there are a few reasons why keeping your excitement at bay and internalizing those feelings until the tours have ended is highly recommended within the Real Estate world.
You’ll Lose Your Negotiating Power
Negotiations are a huge part of buying and selling Real Estate and are simply one of the best tools that buyers can use help ensure that they are getting a great deal on the home they are hoping to purchase. Unfortunately, if you’ve shown high levels of excitement and interest while touring homes then the seller’s agent may feel as if you’ll purchase the home at full price and won’t be as willing to negotiate, offer credits, complete repairs, etc. solely because they know how badly you want the home.
Other Buyers Might Beat You
Chances are, there are other buyers who also love the house, and if they know that others are interested in the home they are wanting to purchase, they might jump the gun and place an offer that is hard to beat to try and help their chances of getting their offer accepted over others. Unfortunately, in this scenario, by showing excitement you are setting yourself up for a higher chance of receiving an offer rejection vs. acceptance and ultimately losing the home you had such high hopes for.
Related: Buying in a Seller’s Market
The Let Down
While it is nearly impossible to not get excited during your house hunting journey, one of the biggest risks when falling in love with a home or getting overly excited about the potential of the home being yours is simply the letdown if the sellers choose to go with another offer or buyer. This can take a huge emotional toll on buyers and in some extreme cases can even cause the buyers to pause their house hunting journey altogether. While being excited when touring homes is a great way to know that you’ll love the home you are hoping to purchase, try to be realistic and do your best to try and keep your emotions at bay to protect your feelings should the deal go south.
If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent to assist you, or if you have any questions regarding Medina or New York Real Estate, please feel free to contact our office at any time.