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Would you buy a home without ever seeing it in person? If that seems like a stretch to you, it isn’t to a good number of young people. According to a new report, many millennials would purchase a home sight unseen. The reasons why reflect the craziness of the housing market.
The study of millennial home shoppers found 90% would buy a home without ever laying eyes on it. The main factor behind that decision is houses are selling quickly and inventory is low. Young people are simply worried if they don’t snatch up a home immediately, it’ll be gone. But while that makes a little sense – you don’t want to miss out on your dream home – it’s an unwise strategy.
To start, a listing paints a home in the most beautiful, favorable light. Realtors use all sorts of techniques to create photos to ensure homes look immaculate. As USA Today reports, sometimes the photos even make rooms look much larger than they actually are. You need to see a home in person so you know exactly what the home looks like. Seeing the home will also give you an opportunity to spot items to be repaired. If you don’t see the home first, you could end up buying a house that busts your budget right off the top because it needs several repairs.
It might be tempting to buy a home without seeing it in person, but you should resist the urge. Yes, the home might get sold, but remember: There’ll always be more houses. Take your time. Buying a home isn’t something that should be rushed.