The Secret To Buying A Home In Orlando In 2022
As a Realtor® in the Horizon West Area, I know incredibly well that getting a house in this current market is tough. Real estate can seem mysterious at the best of times, and with the market the way it is, even more hoops and challenges have appeared, making it difficult for even qualified families to find their new home here in Central Florida.
Orlando, and much of the country, is currently in a “Seller’s Market,” which means there are MANY more buyers who want homes than there are homes listed for sale. With demand high and inventory low, this unfortunately means higher prices and more hoops to jump through if you’re looking to move.
So many of my clients reach out to me not knowing the unique challenges a Seller’s Market poses, and some feel discouraged by the lack of inventory. That’s where I come in! I always ensure my clients know the ins and outs of the real estate market when searching for their new home, but for the purposes of this blog, here is a quick run-down of the top five things to know if you’re looking to find your Florida home.
Work With A Realtor®
This isn’t shameless self-promotion, folks! In any market, working with a reputable real estate agent can make all the difference in your home buying experience, but especially in this seller’s market, it’s an absolute must. Working with an agent, if they’re doing their job right, means you get access to their expertise, knowledge of the area, and relationships with builders. We are here to save you time, money, and stress – three things this current market will throw at you in spades if you’re not careful.
As one of the top Realtors in my area, I know this area like the back of my hand, which is especially valuable to my clients who are moving to Horizon West from all over the country (and even the world!). I do my best to help my clients and other prospective home buyers to familiarize themselves with the area through my YouTube home tours and Sunday Drives, but even that is only a glimpse at what this area has to offer. When we talk about your needs, preferences, and deal breakers, I am already compiling a mental list of all the homes that may be a perfect fit, meaning you don’t have to spend hours surfing Zillow for a home that, in all honesty, is probably already spoken for.
I also pride myself on my great relationships with builders, agents, inspectors, and all manner of folks in my area. That is just a product of me loving people in general, but an extra perk is that my clients often benefit from those connections when my contacts reach out to me to tell me about potential homes long before they officially go on the market
Have No Contingencies
A contingency is something that has to happen before you can buy a new home. Most often, this will be a home to sell contingency, meaning you first need to sell your current home in order to procure the funds for a new one, and some builders will simply not accept any buyers with these contingencies due to the sheer number of potential buyers they have.
I know how scary it can be to think about selling a home before you’ve secured a new place to live, but in this market, sellers are prioritizing sales that they can do quickly and easily, and that means cash buyers and buyers without contingencies are at the top of the list when it comes to home opportunities.
Always remember you have options, even if you sell your home before buying, but even if renting or similar short-term agreements aren’t for you, at least getting your house on the market and under contract before actively looking for a new home will greatly improve your chances of securing your new home. If the home you need to sell is in Florida, fill out this easy form on my website for a free HOMEPulse, a visual guide to your home’s value, to get started.
Be Ready To Move
Especially if you’ve sold your home to avoid contingencies, it stands to reason that you’ll need to be ready to move pretty fast once you’ve taken the plunge to seriously look for a home. This doesn’t just mean actively looking, though. It also means making fast, informed decisions when a potential home does become available.
As your representative, I can help with that. I know the area and the market, which means I can often tell with reasonable certainty whether an opportunity is a good one…and even more importantly, how likely you are to find another opportunity within your price range and needs (hint: it’s not as likely as we’d like).
One thing to note is that, especially if you’re working with me or another top-notch agent, these decisions shouldn’t require too much deliberation after the opportunity arises. It might be scary to think about making such a huge decision in a quick time frame, but I always try to mentally prepare my clients ahead of time so they know exactly what we’re looking for. Rest assured that I will not push you blindly toward the first house that hits the market and encourage you to put down an offer. My primary concern is always putting my clients into HOMES, not just four walls and a roof. We’ll find the perfect home for you–we’ll just do it in double time.
Be Flexible
Speaking of your perfect home, start thinking about what that really means for you BEFORE we start looking. What do you need out of your home? What are the non-negotiable things you must have in order to even consider putting down an offer on a home?
One thing I have learned in my many years working in real estate is that many families have a list of deal breakers…that really aren’t deal breakers at all. How many bedrooms do you need? Do you need to have a pool? An extra room for an office or craft room? Maybe you do need all those things and more! Just be sure before we start looking.
I treat my client’s deal breakers as just that: deal BREAKERS. Especially in this market, we don’t have the luxury of time, and I don’t believe in showing clients homes that directly go against things they have expressed they do not want. That’s why I encourage my clients to think critically about what things are truly deal breakers…and which things are perks or preferences they wouldn’t mind doing with or without. You don’t want to miss out on a perfect home because of a preference!
Know Your Options
Sometimes, when I tell my clients about the lack of inventory, it takes them by surprise. A lot of folks believe that real estate agents and builders must be hiding perfect, inexpensive homes up our sleeves that we simply haven’t talked about.
As much as I wish I had access to an endless supply of beautiful, perfect homes to dole out to my clients, no such thing exists–and if it did, I certainly wouldn’t be keeping it a secret! We work with what we’ve got, and with inventory so low, we do have to be a bit more thoughtful about what opportunities we pursue. It can be frustrating when nothing seems to be checking all your boxes, but when we work together, I’ll always make sure you know your options, even when options seem hard to come by.
So, What’s The Secret?
You might have noticed this common theme throughout these five tips, but here is the main thing I hope you take away from this list: this market is going fast. I don’t say that to scare you–moving is exciting, and I do a lot to help my clients find their perfect home no matter their circumstances–but the point still stands that the ideal buyer in this market is one who can keep up with that breakneck pace, ideally with eagerness, flexibility and (hopefully) some solid representation.
If you’re ready to get moving, or if you want to hear more about your options within this current market, shoot me a text to my cell at 407-848-8042 or fill out a wishlist right here on my website. Have fun, and Happy House Hunting!