When you are beginning your home search you need to keep in mind that you may not have a lot of time to weigh your options when you find a suitable home. Is it too far from work, would I rather be closer to downtown and sacrifice the square footage, or should I keep looking for that “perfect” house? I hate to burst your bubble but there is no “perfect” house (especially for a first time home buyer), unless you want to buy a plot of land and design it yourself! In reality you are looking for that 8/10 or 9/10 home that you can make your own.
A large part of having a successful house hunt is really nailing down your criteria before you start viewing homes. The last thing you want to do in a seller’s market, which is what Reno is, is take a few days to decide if you want to make an offer and lose the house. A lot of first time home buyers figure the house will be there in a week or two and they can keep looking. In all honesty a house that is in a desirable area and price range will go for 98-101% of the asking price, assuming it is priced correctly. Another item to consider is that a home is hottest when it first hits the market. If you are looking at a newly listed home and have a feeling it is the one you need to act with purpose because there is a good chance an offer will be on the table for that home quickly.
Now with all that said you do not want to make a hasty decision which leads to buyer’s remorse. To avoid this dreaded feeling you need to do your homework on neighborhoods, write down your five ‘must haves’, and decide a firm price range that will work for your household. All of this ‘homework’ will allow you to move quickly when you find the right home. The first and most important step is talking to a real estate professional, they can help you determine if you are ready to purchase a home and walk you through the entire process.