Pros & Cons Of Buying A Home Sight Unseen
Home buying sight unseen is a lifesaver for military families who need to purchase an out of state home quickly.
And while there are some definite advantages to this type of sale, there are also some potential pitfalls buyers need to be aware of before they commit to buying a home they haven't actually seen in person.
Today we are going to take a closer look at some of the pros and cons of buying a home sight unseen.
One of the most significant advantages to buying a home unseen is that you can shop for homes anywhere in the world; you’re not limited by geographical location.
If you're a military family who just received PCS orders or you’re simply looking for a vacation home, you can shop for properties worldwide without ever leaving your living room.
You can also compare prices in different markets. Giving you a better sense of what kind of property you can afford.
With all of the technological advancements available today, your REALTOR® can guide you through virtual tours of homes so you can decide on a home that's right for you.
The disadvantage to not seeing the home in person is it can be challenging to get an accurate sense of the property and its condition.
While technological advances have made it easier than ever to get detailed information about properties we're interested in, there's still no substitute for being able to see a property in person.
Photos and videos can only tell you so much, and it's easy to miss important details that could make or break your buying decision. You could fall in love with a property on a virtual tour or in the listing pictures, but the feeling could disappear as soon as you walk through the door.
Additionally, even if a property looks perfect online, it could have hidden issues that wouldn't be clear until you saw it in person.
Another advantage to not seeing the property is you'll have more negotiating power when you buy sight unseen.
If there's high interest in the property you're interested in, and you're not able to physically be at the house to put in an offer, buying sight unseen may give you an edge over other potential buyers who can tour the home before making an offer.
The seller may be more likely to accept your offer if they know they won't have to wait for you to fly in and tour the property before making a decision.
Another disadvantage is that you may end up paying more than necessary.
Without seeing the property and noting necessary repairs needed, you may end up paying more than you would if you negotiated repairs.
It's important to do your homework ahead of time and work with a reputable real estate agent who can help guide you through the process of buying sight unseen and ensure you don't overpay for your new home.
As always, if we can help you move in, move out, move up, or move on, let us know. Anchor Real Estate is here to help!