Wednesday, November 18, 2015

Home Buyer Tips: Livable Space or Just Space - Is Bigger Better?

I have been spending a couple of hours working on some comparables for a customer who is interested in buying a home in Viera, Florida.   The challenge in this case is that, while the house is very nice, it is also one of the largest in the subdivision.  

Also the list price is significantly higher than most of the past sales (all of the past sales during previous ten months).  

My question for the listing agent:  How did you arrive at the market price?  What did you use for comparable properties?  Or, was it what the seller wanted?  Was it what the seller needed to net? 

Probably a bigger question for prospective buyers:  Aside from a cash offer, how can one finance a home that is much higher than the others comparables? 

What if the appraisal comes in low?
Under Contract is not Sold.
Highest Offer Not Always Best Offer.

And the bigger question for the seller:   How does your real estate agent plan to sell your non gated community home for a price that is higher than everything else and more in line with the homes for sale in the larger, nearby gated communities?

Smart buyers understand that, given a choice between buying the largest home in a neighborhood other smallest home in the same neighborhood, they should go small!

Besides the largest house may not be the best floor plan.  After all, it is all about livable space and not just space

I understand many sellers believe their home is the nicest house in the neighborhood.  I understand many sellers believe their “nicest home in the neighborhood” will sell for significantly more than any other house in the neighborhood. 

As a Viera, Florida buyer's real estate agent I understand my job is to assist them in buying a house for the best price possible in a time frame that meets their schedule and, most importantly, is within their budget. 

If prospective buyers have a real estate agent like me they will likely be advised it is almost always better to buy near a neighborhood’s mid-point as it pertains to price and size.  

After all, its all about the buyer - not me, or the seller!

For information on buying or selling a home in Viera, Florida, give me a call at 321-693-3850 or email me.