Silicon Valley real estate is one of the hottest markets in the country. Buyers have to make decisions quickly in order to buy a house they love. We’ve put together our best tips for successful home buying to help you out.
1. Don’t depend on the internet for all your information. There is so much you can see and learn online these days. It can be super helpful to go through a bunch of photo tours to get a sense of what layout you’d like or which neighborhoods are your favorites. However, your agent, lender, and home inspector will have insight about the Silicon Valley property market that comes from years of experience. Real estate isn’t just a numbers game. It’s also a personal interaction. Put your agent’s strengths to good use. An agent who’s a good people person should do most of the communicating with the seller and their agent. A finance whiz should be in charge of writing the offer.
Know What You Want in a Silicon Valley Property and Get a Good Agent
2. Get serious about what it takes to purchase a home. This probably sounds ridiculously obvious. However, too many buyers, especially first-time buyers, get hung up on comparable homes and fair market value. As we said above, real estate is a personal transaction as well as a financial one. You’re going to have to work with the sellers and what they want in order to buy a home. In a super-competitive market like Silicon Valley real estate, if you wait too long for perfection, you could very well find yourself priced out of the neighborhoods you wanted.
3. Stay flexible and expect bumps in the road. Once you’ve had an offer accepted and are in escrow, that is not a guarantee that there will be smooth sailing. In fact, there are always some issues that look like they could threaten the entire transaction. Expect this. Try not to get your heart set on closing by certain dates or other factors you don’t control. Be guided by the experience of your agent and stay as calm as you can when obstacles come up.
So much more can be said about staying sane in a competitive market, but the truth is that staying calm and flexible will get you through just about every challenge you’re likely to encounter.