You’ve seen an announcement for an open house, and knowing the short supply against a massive demand for housing in your city, you’re excited to attend it. So, you want to make the most out of this experience…you’ve come to the right place. Have a look at my five easy-to-remember shortlisted tips while going for an open house.
- Gather as Much Data as You Can
Open houses are open events, free for the public. They are hosted by expert realtors or selling agents on hours and days available to you, usually Saturday orSunday, when young professionals and family members can come. Their main goal is to see how and why the property is a good buy. Naturally, they’ll provide information to you and point out details about the property that you should be focusing on. This information can educate you more on your preferences and needs. Therefore, gather as much data as you can and determine the offer that you can put forth when the right property comes up.
- Address Your Concerns to Experts
An open house has many real estate experts and potential buyers at the same time. Take a tour, focus on the details of the house, and be sure to ask around the people there for advice, suggestions, and opinions. Knowing their stance can be very informative to you, especially when you run into someone you can relate to with your situation. Their decision process can give you an idea based on your judgment process too. You can start here with what to look for and what to avoid in a property.
- Refine Your House-hunting Skillset
Open houses can help you hone your house-hunting skills. For each open house, you’d attend, you’ll learn a new legal angle, new home layout, and a unique real estate term. Did we mention the room full of experts to give you all that information and more – freely? Moreover, the focus of these open houses is the general public’s point of view. So, they make each conversation as simple to understand as they can. Some hosts even offer refreshments with entertainment. It’s a fun way to learn while you’re enjoying yourself.
- Ease Yourself into a Critical Decision-making Process
To people who are terrified at the prospect of making such a huge purchase, open houses can work as an “exposure therapy” for you. The more you visit open houses, the more confident you’ll be in your abilities to evaluate a listing according to your needs. After visiting enough open houses, you can know what a good deal looks like. Therefore, when an opportunity comes your way, you’ll be more ready for it.
- Look for All the Good and Bad Points Yourself
If you are seriously looking to buy a place for yourself, then we highly recommend attending an open house. Open house helps you see firsthand all the good and bad points for yourself without the filter of an advocate. While advocates have been trained to translate a new property to you, most people find satisfaction in their judgment and have minimum post-purchase regret when they are the key decision-makers. Going to an open house is the best way to go about seeing the property for yourself. You’ll be free to roam around and adjust your offer accordingly.
Bottom line
Going to an open house is an experience to remember. It’s a remarkably informative and enjoyable way to hunt for your dream house. It offers an environment to the realtors’ agents to generate leads and prospects. On the other hand, it provides potential homebuyers with tons of information. Seeing that properties sell fast in cities like Toronto, having all this information can help you make a quick decision and be confident in it.
Want to find out more about what’s going on in Toronto? Contact me, let’s sit for a coffee and a chat.