Have you ever been to an open house before? Whether you’re new to the game or not, here’s a quick open house guide to help you get the most out of your stop!
5 Tips for What to Do at an Open House
- Stick to an area you like. Looking at the sheer amount of open house listings can be overwhelming. If you have an area of town that you know you’re interested in, stick with just a couple listings there. Going to a few open houses will confirm for you whether it’s really a neighborhood you can see yourself living.
- Flexible budget. Yes, we know this sounds opposite of what we normally say. And we still recommend you know your budget and stick to it. But you should also know the range of what you can afford. If you’re pre-approved for a certain amount, it makes no sense to look at houses that are $300,000 above that. But try looking at say, $50,000 above or below your approved amount. If just a little more gets you onto a quiet cul-de-sac instead of a busy street, it might be worth it – so don’t cut yourself short when the budget is doable. Especially when an open house is just to get a feel for the neighborhood.
- Listen to what other people are commenting on at the open house. If you’re new to the market, chances are some people have been looking longer than you. Are they remarking on the price being too high? Concerned with the wall in the basement? Take note. They’ll often compare it to another open house in the area, and you can gain some valuable insight.
- Check how long it’s been on the market. This is mostly for pricing purposes. Before you go to the open house, know how long it’s been on the market – if it’s been up for a while, chances are it will sell below asking price. Or you can be on the lookout for the reason it hasn’t sold yet.
- Ask questions. The agent is there for a reason. Don’t be shy asking questions about the property at an open house, and listen for key things. If the agent says something like the owners are flexible on price, you know you have some bargaining room to get some things replaced or offer a lower bid. An open house is a great way to get that kind of information without much effort.
We hope this helps you own your experience at your next open house! And if you’re looking to get pre-approved for that perfect home, give us a call! We’re a Christian mortgage lender that puts faith and family first. We’d love to help!
The Christian Mortgage Mom