Thursday, March 28, 2024

4 Benefits of real estate sightseeing even if you’re not buying

Perusing online real estate listings can be nothing less than addictive. We’ve all spent time scouring the internet, googling homes for sale that we don’t intend or can’t afford to buy.

But most of the people would not ever hop in the car and go look at a house in person, even if you’re not at all ready to make an offer. Before you dismiss the idea, consider what you stand to gain by turning house hunting into an extracurricular activity. It might seem nosy at first but regardless of whether buying or selling is in your near or distant future, there are many benefits of doing it.

Here are 4 Benefits of real estate sightseeing even if you’re not buying:

1. Learning more about what you can afford

What you want to buy and what you can afford to buy are often two very different things. Unfortunately, you don’t always figure that out until you’re deep in the process of house hunting, perhaps with your heart set on a dream home that will drain your finances and make you house-poor.

Attending open houses lets you get a grip on what you can realistically expect to find in your budget. Sure, you can enter a price range online —but remember that perusing online listings is only the first step of the process. Often, actual homes look quite different from their online photos, which can be focused on or touched up to show only the best parts of the property.

2. Seeing the agent in action

Even if you don’t find your dream home, you might meet your dream agent. What better way to interview the candidates who could represent you on either side of the transaction than by seeing them in action. While most sellers interview multiple agents to find the best fit, buyers rarely do which can be a mistake.

Site seeing offers great opportunity to get multiple face-to-face appointments with potential agents, without having to set up a formal appointment to interview them. Be alert to whether the agent engages you when you first come in or is too busy to acknowledge and help you. Moreover, come armed with a few insightful questions about the local market to see if the agent seems knowledgeable about more than just that one open house.

3. Checking out the competition

Traffic at a site can be a gauge for whether the sellers have found a sweet spot with their price, since a new listing should be attracting multiple visitors when priced correctly.

If you’re a buyer, the number of visitors can indicate how quickly you might need to pounce when you decide you’re ready. You’ll also get a face-to-face look at your competition. If you listen carefully, you might pick up some information about the kind of buyer the seller is looking for. Even if you don’t intend to buy the house, the info might come in handy down the road.

4. Getting a feel for the neighborhood

If you’re looking in a new, largely unfamiliar community, browsing for a few months can tell you a lot about your potential neighbors. You’ll get a sense for who primarily lives there, whether the neighborhood is abuzz with block parties and other events, or if it’s mostly quiet. Plus, you’ll get the chance to meet other prospective buyers, and learn where they’re relocating from and what they’re looking for in their new community.

Of course buyers come in every demographic, but sometimes the patterns are surprising.

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