Open Homes & Open Home Fatigue

Posted: 22nd April 2010 by admin in Uncategorized

April/May is often the time of the year where I notice buyers tend to be doing one of two things -getting ready to move into their new home or hunker down for winter. I say that because traditionally, March is a big month for Real Estate and the settlement dates fall for buyers in April or May.

I sometimes hear from buyers that they are having a break from finding a home because either they’re disappointed not to have found the right home or they are just plain tired of looking!

So here are some tips to help you shake off the autumn blues and get you back on the open home horse! If you are considering having a check-in with your partner (or do a mental check-in with yourself) and ask the following questions:

1) When do I want to be in my new home?

It’s amazing when you actually set a deadline for yourself, what can actually happen. If this date is 3 months away from now then you’re going to need to get cracking, as the time period typically is 4 – 6 weeks between the purchase date and the settlement date.  Get back on the horse and dedicate some quality time to open home hunting!

Comparably, if you are looking to seriously buy in 6 – 12 months time, then your timeframe (and motivations) are going to be slightly different. Thus you can be a little more relaxed about going to open homes every weekend.
2) Do I want to be looking at open homes every weekend?

The short answer if you are a serious buyer is… yes. I applaud those buyers who actually get out there and get “hands-on” by visiting open homes. Whilst this is a smart way to start your property research at the start, the novelty can wear off pretty quickly. My advice is once you have got an idea on which area you are focusing on then do the following:

a) Create your property-viewing list during the week

Once you have found a property you like, contact the agent(s) during the week and ask them questions about the property. Ask the important questions like: price range, condition of the property, school zones etc. (Most information is available online if you are web savvy but don’t be afraid to ask the agent before you get to the open home.) I also forgot to add that websites have photos, so treat this research-time like a preview viewing of the open home (remember this point in reference to the next comment below.)

b) Pick one day for open home viewing and stick with it.

I often joke with buyers that house-hunting is like a second job. Whilst that is meant light-heartedly I do see buyer fatigue set in when some buyers spend weekend after weekend going through a myriad of open homes. Pick one day each weekend as your open home day and pick a maximum of 4 properties to view. This way you are going to be forcing yourself to do the work each week to ensure you have the properties you like the most on your viewing list. This will keep you sane and add years to your life :-)

A final word

Just remember that as we etch closer to winter, that both Vendors and buyers will leave the market, and wait until spring. There are always opportunities out there and whilst there are less listings available on the market, there is also a lot less competition for the available properties on the market. Do your research; keep looking and you’ll be rewarded for your efforts.

Andrew

  1. [...] In a winter market there certainly are a lot less active buyers in the market and that’s a good thing for you, if you are seriously considering buying a home. Winter buyers have the advantage of less traffic through open homes which means less competition & a better chance to to ask agents more questions and better questions about the property, and market in general. A good tip from me – in addition to the ones I made in my Open Homes Article: [...]

  2. [...] In a winter market there certainly are a lot less active buyers in the market and that’s a good thing for you, if you are seriously considering buying a home. Winter buyers have the advantage of less traffic through open homes which means less competition & a better chance to to ask agents more questions and better questions about the property, and market in general. A good tip from me – in addition to the ones I made in my Open Homes Article: [...]