Picking a Price Range to Buy a Home

Common sense and picking home price ranges don't always go hand in hand.

Rarely do buyers pick the right price ranges, much less the right price, from inception. And listing agents don't help the situation by advising sellers to select screwy listing prices, which often fall out of the price ranges where buyers look.

It's better to start with a wide range of pricing. A big spread gives home buyers the largest inventory of homes from which to choose. Besides, at least one-third of most listings aren't priced correctly when they come on the market. If buyers overlook those overpriced homes in a search, they could find themselves in multiple offer situations when those home prices are reduced.

After touring homes for a while, most buyers end up narrowing the focus of their search, and that final price range is typically not where they originally began . . . read more about Picking Home Price Ranges.

More Articles by Elizabeth Weintraub, click below:

• How to Buy New Construction
  
• Find a Mortgage
  
• Hire a Neighborhood Specialist

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