Common Buyer Mistakes

Recently, our team came across an article that really hit home in regards to the wine country real estate market. The article discussed typical missteps that home buyers tend to make that can ultimately wind up costing them the home (or homes) of their dreams.

This topic is especially applicable for prospective buyers in the Sonoma and Napa Valley real estate markets since properties tend to be highly sought after. Furthermore, it is not uncommon for there to be multiple offers on a single property simultaneously.

We thought it would be a wise article to refer to, since it is always such a disappointment to us when we see one of our buyers lose out on a home that is perfect for them, all because of a couple of minor home buyer mistakes they may be making when it comes to their home-buying strategy.

Common Home Buyer Mistakes

Seeking a Bargain

The first common slip-up is seeking out a bargain—there is a fine line between saving some cash and watching the perfect property vanish right before your eyes. Real estate is very different from retail. The retail mentality of being able to save “x” amount of dollars cannot really be applied when attempting to purchase a home in this type of market.

A home sale transaction is far more complex than buying a pair of jeans—or even an automobile—and attempting to apply this type of wheeling-and-dealing method when making an offer on a home can actually end up costing the buyer more money in the long run, as opposed to saving them money upfront.

Reconciling Conflicting “Wish List” Attributes

Another typical home buyer mistake is attempting to reconcile conflicting “wish list” attributes into a single home or property. It can be difficult, even impossible, to find that quintessential dream home that offers the ideal combination of each and every element the buyers desire—a view, close proximity to town, the best school district, a large backyard, minimal noise, etc.

We have seen homes slip through buyers’ fingers because they took too long to compromise on these types of details and came to the realization too late that it is nearly impossible to have it all—unless their budget has no limit! Having the ability to compromise and remain realistic is some of the best advice we can offer.

Final Thoughts

It is our hope that buyers will keep these common home buyer mistakes in mind as they navigate the often-overwhelming home-buying process. Awareness is key, and with an open mind, patience, and a good Agent, this process can and will run much more smoothly and successfully!