How to Combat Buyer Fatigue
Looking for the right property can be an arduous task and the longer it takes, the greater the likelihood of hitting a wall of fatigue.
If your enthusiasm wanes, then it may pay to adopt the following techniques:
1. Keep the Search Focussed
Constantly remind yourself why you are purchasing the property and what goals you are looking to achieve. Plan a clear and workable brief. Moving forward, you may make small changes to the brief as your expectations change and the market evolves. Avoid becoming distracted listening to friends and family. They may mean well but they will not understand your needs as well as you do. Resist the temptation to look outside your brief.
2. Keep a Consistent Pace
Planning your searches, inspections and free time in advance can help you to avoid buyer fatigue. Allow sufficient time to conduct your searches properly but do not place unrealistic expectations on yourself. Once you have established a rhythm, maintain the momentum and do not give up.
3. Stay Motivated
If you miss out on a property, inevitably, your enthusiasm will take a knock. Stay motivated by reminding yourself of the negatives with that particular property whilst visualising yourself ultimately securing the right property.
4. Don’t Spend your Savings
If you have reached a wall of fatigue and frustration, it can be very tempting to commiserate by making impulse purchases by buying a new car or booking your next holiday. Whilst you need to maintain a certain lifestyle and keep positive, don’t eat into your savings if that means decreasing your property-buying budget. On the contrary, you should curb excess spending and increase your savings to improve your budget.
5. Avoid Disappointment
You will almost certainly disappoint yourself if you look at superior properties above your budget. You should focus your energy on properties you have a realistic chance of securing. However, with the way properties are marketed in Sydney, it may be difficult to work out how much properties are likely to sell for. Both realestate.com.au & domain.com.au provide a search function for recently “Sold” properties. This should give you an idea of the types of properties that have recently sold within your budget.
Of course, the easiest way to avoid buyer fatigue altogether is to engage a buyer’s agent to do all the hard work for you. If you would like to discuss your property search with me, please call me on 0405 134 645.