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This... is Fairfield County Connecticut. We are going to explore some of the best tips for purchasing a property, and how to avoid the most common pitfalls in the home buying process.

Hi, my name is Charlie Vinci. I am a Fairfield County CT Realtor, and my realty team and I specialize in helping buyers understand what moving to CT entails and how to relocate to the area.

If you’re thinking about moving to lower Fairfield County Connecticut, make sure you take a look at our Fairfield County Market Reports and YouTube Channel. There is a ton of great information there to help make the best home buying decision for your and your family!

Table of Contents:

Introduction:

Today I’m going to discuss a few of the things that some of our buyers have done that have caused them to either miss out on an opportunity or even worse, lose a property.. 

If you follow the tips and avoid these mistakes, I’m sure your home buying process is going to be way more effective, way less time consuming, and make sure you are not going to miss out on an amazing opportunity. 

Property Paralysis:

One of the challenges that some buyers have is that they save or favorite too many properties. When your list is a mile long, it’s hard to focus on the good ones and compare/contrast them to determine which ones rise to the top. 

What I recommend is that If you narrow that list down to your top five, at most ten, and then focus on those properties. This will allow you to focus on the ones that best match your criteria and have a much easier time deciding.

Criteria Constriction:

Another challenge that I find some buyers have is that they have a long list of wants and needs. While a long list is not necessarily an issue, the problem is focusing on the things that matter most. 

What I recommend you (and significant other) do, is write a list of everything you possibly want or need in a home. Whether it is schools, low crime in the neighborhood or maybe it’s an open layout, put all these things down on a list. Then separately, circle your top three things you cannot live without and come back together to share the list. You can then combine and condense your lists to clarify your top three to five criteria that matter most. 

This is incredibly important as it does not matter what your price point is: $2MM, $10MM, $20MM.. What I will promise you is that there’s no perfect house and there is some compromise to be made. By focusing on those top three to five criteria, you will be able to much easier focus on the homes that match and more importantly you will be able to discard the ones that don’t.

Studying Sold Homes:

I’ve noticed some of our buyers do not pay enough attention to sold data.. They tend to compare new listings to other new listings to determine what is a good value. Most of the time this will work out. However, the challenge is that you do not get an accurate understanding of when homes are overpriced or how quickly homes are selling. 

By watching the sold data, you will be able to better gauge “time on market” while also understanding what percentage of homes go above or below asking price. Now, don’t confuse sold data for learning the market.. Details such as neighborhood values, build quality and comparative market analysis can be difficult in understanding at a local market level, so I would suggest you leave those details to your trusted agent. 

Preparation is Power:

We sometimes find that our clients have done a great job with all of the tips above: narrowing down their favorite homes list, focusing on the criteria that are most important and studying sold home data.. Then a house pops up that matches all of their desired criteria. It is their “dream home”, and they want to go see it while being head over heels for the property…

Of course, our buyers focus on a certain subset of the market: THE BEST PROPERTIES. This means that the properties you think are great and check all the boxes, most likely check someone else’s box as well. 

The problem arises when they have not done the preparation they need in order to move quickly on the home. We find that in any market, regardless of whether it is the fast-paced Covid market that we’ve been experiencing recently, or a more normalized market, having the ability to act quickly can separate you from the competition. 

If you have started a conversation with your mortgage person, but have not provided them all of the necessary documentation, this may result in delays for your pre-approval. There have been added parameters since the market crash of 2008 so you are going to want to make sure you are fully prepared to make an offer with a pre-approval in hand. 

Even if you have a pre-approval, certainly make sure to speak to your mortgage person periodically to see if it needs updating or has expired. We unfortunately have seen too many buyers wait on this critical item and the house ends up getting sold by the time they are able to get approval.. 

The buyers who win the best properties are the ones that are focused, prepared and have the ability to move quickly.

Wrap-Up:

If you are thinking about buying or selling, call me, I would like to help you. In the meantime, head over to my site to take a look at the market data, grab our raved about buyers guide or search for homes.

I look forward to hearing from you!

Best,

Charlie Vinci

Fairfield County CT Realtor

203.952.7752

charlievinci@gmail.com

About the Author:

Charlie Vinci, the Founder and Lead Agent of the Charlie Vinci Team has become a mainstay in Connecticut’s real estate market, earning accolades as one of the top 3% of realtors within the state. Fueled by a dedication to the success of his clients and an ever-growing assortment of area-specific resources, the business continues to thrive in the constantly evolving real estate marketplace. An informative YouTube presence has been the primary driver/focus for the team, as it has allowed Charlie to engage directly with his audience and provide a consultative approach to an often ambiguous process. Whether an international client seeking relocation to the US or a local homeowner considering the sale of their property, The Charlie Vinci Team has the market knowledge, resources, and expedient level of service that clients not only desire, but deserve.

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