Buyers in a Seller’s Market: When to Compromise

We all know options for buyers are limited, and have been in the Victoria Real Estate Market for quite some time now, so where does that leave buyers? At what point should you consider your ‘less than ideal home’?

Of course, it’s always best to find a home that ‘checks every box’, but some buyers have had to settle for something different. You may not have the option to wait until the perfect place comes along, and in a market with low inventory, it could take a while. Sometimes it’s best to start looking & thinking ‘outside the box’.

Determine the difference between a ‘want’ and a ‘need’.

Consider these questions:

Can you change it?

Maybe it’s as easy as updating finishings and decor to make it your own and have it feeling like the dream home you always pictured.

Can you live with it?

It may not have everything you want, or may be smaller than you hoped, but can you might make it work.

The decision to buy your next home is always an important and personal decision. What someone else is willing to compromise on will be completely different than what you’re willing to compromise on. An experienced real estate agent will be able to help you identify what is a ‘need’ versus what is a ‘want’ as a buyer. For example, you may decide that you’re willing to look at a condo that is a little smaller than you originally planned because the floor plan is well-designed & has great storage options.

Come meet your Condo Experts, and visit our modern new office, designed to enrich your buying and selling experience, located at 102-3645 Tillicum Road, Victoria, BC.

If you are going to be buying or selling a condo, now or in the future, get in touch with The Condo Group Real Estate at 250-382-6636. In the meantime, search through thousands of listings in the Greater Victoria Area here.

Until next week.

— The Condo Group Real Estate Ltd.