There are certain risks associated with any major life change or decision—including buying a home.
But just how risky are buyers willing to be in order to successfully buy their dream home?
A recent survey from home inspection cost resource Repair Pricer surveyed over 3000 consumers to get insights into which risks they were willing to take in order to successfully buy a home in today’s market, including:
- Buying a fixer upper. Not move-in ready? Not a problem! A whopping 80 percent of people surveyed said they’d be willing to buy a fixer-upper. This can be as simple as needing paint and flooring to actually total remodels.
- Paying more than the asking price. Bidding wars are common in today’s market. And, as such, many buyers are willing to go above asking price in order to successfully close the deal. 40 percent of people surveyed said they would be willing to go $20K over the asking price for their dream home. Savvy Realtors® and sellers are actually pricing slightly below market value to encourage multiple offers over the list price.
- Bribing their way to an accepted offer. Apparently, today’s market is tough enough that some buyers are willing to take the low road in order to successfully purchase a home. Nearly 30 percent of people surveyed said they’d be willing to bribe someone to get their dream home. As shady as this sounds, some of these “bribes” are pretty creative. Recently one of my clients lost out on a property to another buyer who included an “incentive” for the seller. In summary, the offer said the seller could stay at the property for 5 weekends a year at no cost!