The House You Love: Knowing When It’s Time to Make an Offer

I recently had an experience that reminded me of advice I give my clients all the time, especially my first-time home buyers.

Only I didn’t take my own advice.

My husband and I went to an art fair because we wanted to find a piece for our home. We walked around, looked at everything, and eventually found one that we both really liked. (If you’re married or partnered, you know this isn’t easy!) But we weren’t sure. It was a significant investment, and we kept asking ourselves: Is this the piece? Is this really the one we want?

So we did what seemed like the responsible thing: we decided to go home, think about it, make sure it was going to work in the space, and then visit the artist at an upcoming art fair two towns over. After all, it was an expensive piece of art; it’s not like it was going to fly off the shelves.

We went home, I took a nap (shopping for art is exhausting!), measured the wall, and, naturally, spent more time talking about the painting. And the more we thought about it, the more we realized that we loved it. It was perfect. It was exactly what we had been looking for. And, again, we both liked it! So we got back in the car and headed back to the art fair before it ended, ready to buy it.

Except when we got there, we saw the artist standing there, holding the painting in her hands…and handing it over to another couple. They got it seconds before us. Unlike real estate, there was no opportunity to get into a bidding war. And I tried. “Wait, we’ll pay more!” I told her. But the artist decided to sell it to the couple to got there first, and that was that.

And I cannot stop thinking about it.

I keep looking at the photo. I keep looking at the empty wall where it would have gone. We have talked about it approximately one thousand times since then. And, of course, now that I know I can’t have it, I want it even more.

Which brings me back to the advice I give my buyers all the time.

Sometimes I’ll take clients to see a home and they absolutely love it. They can picture themselves living there. They love the neighborhood, the layout, the kitchen, the outdoor space, whatever it is that makes the house click for them.

And then they start talking themselves out of it.

“Well, it’s not perfect.”
“What if we find something better?”
“Should we see a few more houses first?”
“We can’t buy the first house we see!”

And I understand that instinct. Buying a home is a huge decision, and you should absolutely do your due diligence. You should understand the market, look at comparable sales, evaluate the condition of the property, and make sure the numbers work for you. But there is a difference between doing your homework and talking yourself out of something you know you love because you’re afraid there might be something better around the corner.

One of the best pieces of advice I heard from my mentor when I first got into Real Estate has stuck with me ever since:

You never know when you’re going to flip the ace.

You never know when you’re going to walk into a house and realize, This is it. And sometimes, it’s the first house you see. You don’t necessarily need to see ten more homes to know that the first one was the right one. You don’t need to prove that there isn't something better out there. At some point, you have to recognize when you've found what you were looking for.

This is especially important in a market where inventory is tight. When the right house comes along, waiting just because you’re worried there might be something better can mean losing the house altogether. And once you lose it, that house can become your north star. Suddenly every other property gets compared to the one that got away. The kitchen isn't as good. The layout isn't as good. The neighborhood isn't quite right. The backyard isn't as nice.

You spend the rest of your search trying to find the house that someone else snagged.

So, from someone who apparently needs to take her own advice: don’t wait. Don’t get in your own way. 

If you love it, and the numbers make sense, and your due diligence checks out, sometimes you just have to make the move. And fast! Because if you don’t, someone else will. And take it from me (as I sit here, staring longingly at that blank wall), you’re going to regret it.