Given the current buyers market, many are venturing into the Chicago North Shore Real Estate market for the first time. While it may seem like an overwhelming process, buying a home can be a smooth and efficient experience if you know what to expect, are willing to be flexible and have an experienced Chicago North Shore Real Estate agent by your side!
As The Thomas Team, we enjoy working with first time home buyers as their excitement seems to pour into every step of the process. However, it can also be easy for first time buyers to have lofty expectations and even well meaning advice from family and friends that may not reflect the current Chicago North Shore Real Estate market. In an effort to provide the best service and information to our clients, we thought it would be good to point out five of the most common home buying myths and to set the record straight!
Myth #1- You’ll Find the Perfect Home- It’s easy to see visions of your ideal home when you begin thinking about buying your first home in Chicago’s North Shore. And, while it’s good to have a list of things you’re set on having in your home; being flexible is key. You most likely will not find a home with everything that you have on your wish list, and that’s okay!
Myth #2- The House has to “Speak” to You- It’s common for first time home buyers to think that a home will grab your attention from the moment you step foot in the door- it will just feel like it’s speaking to you. There are times that walking into a home, you’ll love the décor and the furniture that’s currently in the home and that may be the thing that’s grabbing your attention. Remember to look past the current owner’s personal touches to the actual flow and features of the Chicago North Shore home. Alternatively, don’t write off a home on first sight because you don’t like the current style. Things like paint and even flooring can be changed. Look beyond the surface!
Myth #3- Never Buy a Home with An Old Furnace- While an old furnace can be a pain to fix or even replace, disregarding a home for this issue alone is not necessary; although this myth is often believed. Buying a lower priced home with a faulty furnace that needs to be replaced can be a better choice than buying a more expensive home in which the furnace does not need to be replaced. Of course you want to be aware of other issues with older homes such as wiring and plumbing; which can become very costly. The bottom line is to weigh the pros and cons and don’t focus too heavily on those things that can be changed if the price of the home is right!
Myth #4- You Should Buy a Home You Can Grow Into- Planning ahead for the future is wise, and if you’re considering having a family, you may think you need a four bedroom home now. However, what happens if an unexpected move or job transfer arises or circumstances change? You may know that you plan on living in the Chicago North Shore area for the rest of your life; which is great! The idea is to simply think through your goals for the future, as well as what you can afford for right now. If you can’t afford a large home right now, don’t worry. You’d rather have a smaller home now and be able to live without the stress of a major financial burden.
Myth #5- You Have to Win in the Negotiation- First time home buyers feel that in order to “win” a negotiation; they have to have the final word. There can be a lot of back and forth between you and the seller, and it may be easy to want to fight for the refrigerator or minor repairs to be made. But, you don’t want to get so emotionally involved with “winning” that you lose sight of the big picture. Buying a Chicago North Shore home is a business transaction, so it’s best to keep your emotions out off the table.
We hope that the truth about these myths will help you as you journey to find your first Chicago North Shore home! If you have questions about buying a home, the Chicago North Shore Real Estate market or if you’re ready to get started; please contact us!
We look forward to helping you buy your next home!
The Thomas Team
@ Properties
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Chicago's #1 Real Estate Brokerage
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