Keller Williams South Bay
Stephanie Arbolida, Keller Williams South BayPhone: (310) 892-5940
Email: [email protected]

Should You Overspend to Acquire Your Dream House?

by Stephanie Arbolida 11/10/2019

Once you discover your dream house, you probably want to do everything possible to acquire this residence. However, it is important to remain calm, cool and collected as you navigate the homebuying journey. Because if you act too hastily, you risk overspending to purchase your ideal residence.

Let's face it – the temptation to submit an offer to purchase your dream home that may require you to break your homebuying budget can be overwhelming. Lucky for you, we're here to help you consider your offer to purchase closely and ensure you provide a competitive homebuying proposal that won't force you to exceed your budget.

Now, let's take a look at three tips to help you craft a competitive offer to purchase your dream house.

1. Analyze the Housing Market

The real estate market may have major ramifications on the offer you submit to acquire your dream residence, and perhaps it is easy to understand why.

For example, if you are operating in a buyer's market, there likely is an abundance of sellers and a limited number of buyers. If you find your dream house in a buyer's market, you may be able to acquire this residence by submitting an offer to purchase at or near a seller's initial home asking price.

On the other hand, navigating a seller's market may prove to be tricky. In a seller's market, there is a shortage of high-quality houses available and an abundance of buyers. Therefore, if you want to purchase your dream residence in a seller's market, you may need to submit an offer to purchase at or above a seller's initial home asking price.

Consider the housing market closely as you prepare an offer to purchase. If you can differentiate a buyer's market from a seller's one, you can submit an offer to purchase your dream house that falls in line with the current housing market's conditions.

2. Weigh a Home's Strengths and Weaknesses

When it comes to putting together a competitive offer to purchase, it helps to consider a house's strengths and weaknesses. That way, you can account for the costs of any potential home repairs or improvements in your homebuying proposal.

You should consider a home's location as well. For instance, a home in a remote town may prove to be more affordable than a comparable house near a big city. And when you craft an offer to purchase, you should always account for a house's location.

3. Consult with a Real Estate Agent

A real estate agent can help you submit a competitive offer to purchase at any time. This housing market expert is happy to provide a recommendation about how much to offer to acquire your dream home. And if you have homebuying concerns or questions, a real estate agent is ready to respond to them at your convenience.

Want to buy your dream residence? Use the aforementioned tips, and you can avoid the risk of spending too much to acquire your ideal house.

About the Author
Author

Stephanie Arbolida

 You might be surprised to learn that I’m a third-generation Real Estate professional. I was introduced to Real Estate as young girl as my father, grandmother, stepmom and brother all worked in the Real Estate Industry. All doing something different which made me so versatile in my sales position. Although, I didn't plan on selling Real Estate it wasn’t until I wanted to start a family, that I then realized I should become a Realtor. You can say I've been selling Real Estate almost all my life, if you include all the years, I helped my family. Selling Real Estate truly became a passion of mine in 2015 when I had my first child. I got licensed right before my husband and I found out we were expecting, timing couldn’t have worked out any better for us. Although, I had my license I didn’t sell much for the first couple years. I did enjoy helping friends and family buy and sell Real Estate. In 2018 I decided to sell Real Estate full time. My business changed that year with the help of my family, friends and clients I was able to build a bigger business than I expected. Not only did I create a more amazing business for myself, I expanded and built my team, The Arbolida Group. I was also asked to join some amazing leadership communities and named in the top 20% of Realtors within the Keller Williams South Bay Office. My Keller Williams Office asked me to join The Agent Leadership Council. The ALC allows me to stand out and help build and grow leaders within our office and community. I was also asked to be the Program Director for The Women's Council of Realtors South Bay Network. I am grateful that I have been given a tremendous amount of trust from my family, friends, clients and company. With all the trust I have become the agent that I am. It allows me to build strong and lasting connections with the community and all my clients. I strive to be the best mom, wife, Real Estate professional, leader and role model. I am always learning and ready to go above for my family, friends, co-workers and even more so for my clients. My clients almost always end up becoming amazing close friends and I wouldn’t have it any other way. I love my job and I love nothing more than matching clients with their dream home and completing their dream of becoming a home owner.