How to Shop for Real Estate Online
Shopping for real estate online has become incredibly popular with potential home buyers, even if they are only window shopping. But with the number of options available, it can be challenging to figure out where to begin. Whether you are interested in locations like New York or Los Angeles or have your heart set on some Carson Valley real estate, there are ways to make sure your online home search is as effective as possible. To help you get started on your home shopping journey, here are some tips to focus your search.
Budget Always Comes First
Whether this is based on your mortgage pre-approval or just the amount you are willing to spend, you need to nail down a budget before anything else. The reason is there is no point in seeing properties that you will not be able to afford. Seeing properties that you love, but are well outside your budget, can actually make the rest of the online real estate shopping experience more of a disappointment than excitement.
If you haven’t been pre-approved yet, take the time to determine a monthly housing budget that fits into your current lifestyle. That way you can design your searches to automatically remove any property that falls above that line, and it may save you some heartache in the process.
Must-Haves versus Wants
Most potential home buyers have a long list of things they would like to find in their new home. But there is a big difference between a must-have and a want. A must-have involves any feature that is a requirement, with the lack of the feature being considered a deal breaker immediately.
Wants are things that would be nice to find but aren’t actually considered necessities. While wants make figure into your ultimate decision, they don’t make or break a property.
The reason it is important to separate these as it will help you create a more effective search. When you are presented with different search options, make sure always to select those that relate to any must-haves on your list. However, don’t include anything that is a want at this stage. This ensures you see every property that meets your requirements without eliminating one because it doesn’t have something you want but isn’t a necessity.
Location, Location, Location
Sometimes specific location falls into the must-have category. Other times, there are a handful of areas that will work well for your needs. It is important to factor in location so that you only view properties that are in areas you are willing to live. This also prevents the online home shopping process from becoming overwhelming based simply on volume.
Choose a few cities or zip codes that are appropriate for your current situation, and focus all searches there. Alternatively, some online real estate sites let you select locations based on commute time limitations or by drawing a search area on a map. All of these options can help you narrow down your search into a workable area, and allows you to consider properties that are reasonably within your reach.
Narrow As Needed
Once you have the field narrowed, you can start factoring in things like wants or focusing on preferred locations. View online tours of homes for sale, or at least review pictures. Then, if you see something that might work, you can begin the formal process of getting pre-approved, working with a real estate professional, or placing an offer.
The ability to shop for real estate online can significantly speed up the home buying process. So feel free to wander through the web until you find a place you could call home.