Seven Habits

If you haven’t read it then you’ve certainly at least heard of the book ‘The 7 Habits of Highly Effective People’ by Stephen Covey. Turns out, you can apply 7 healthy habits to almost any aspect of your life, including real estate transactions. That’s exactly what our friends at Realtor.com did. They have created the 7 habits of highly effective homebuyers as a way to help navigate this intense real estate market. Here they are!

Be Persistent

Rates of homeownership are still growing year over year meaning that the demand to buy isn’t going anywhere. Even with mortgage rates and home prices bumping some out of the market, odds are that you’re still facing homes with lots of interest and multiple offers. Don’t give up if you miss out on your first try. 

Stay Calm

That aforementioned intense market can cause some equally intense emotions. The go-to advice is not to take rejection personally and keep the faith that the right situation will work out in the end. 

Be Flexible

The most dedicated would-be homebuyers know that they can’t keep their radius too small. Be willing to expand your search radius to include longer commutes or different school districts. You might end up finding the diamond you didn’t realize was out there. 

Ask Questions

Highly effective homebuyers aren’t rushed by a quick market- they take the time to ask questions about the home they are considering buying. After all, buying a house is likely the largest financial decision anyone will ever make in their life. When hundreds of thousands of your hard-earned dollars are on the line, you have every right to take all the time you need ensuring what you want to buy is right for you. 

Be Creative

Obviously, everyone wants The Perfect Home right off the bat but here’s a little secret… it doesn’t actually exist. Odds are there’s going to be something about a home that you don’t love hands-down. Be willing to look past cosmetic issues because, after closing, you can change anything you want. 

Wants vs. Needs

Highly effective buyers know the differences between wants and needs. You might want a wood-burning fireplace but need to be in a certain school district. Know which items on your “must have” list you’re willing to compromise on by deciding what is a want and what is a need. 

Availability 

The real estate market doesn’t usually operate during the typical Monday thru Friday 9-5 schedule. Homes hit the market on random days, drop their prices at unpredictable times, or have weekend open houses. When your agent calls you with a great opportunity, be available to potentially drop everything and go see that house right away. 

Adopt these great habits and 2023 will be the year you land your dream home!