When the housing market heats up and the number of homes for sale begins to tighten some buyers are tempted to make an offer on a home without seeing it first. When the competition for a home is so great and multiple offers abound, buying an unseen home might seem necessary. Or maybe you’re moving across the country and you won’t have a chance to tour the area before you make a decision. No matter what the reason for doing it, buying a house without seeing it will come with additional risks.
Despite the risk, 33% of people are making offers without seeing the home with their own eyes. Because of technology, particularly photography and virtual tour software many people are feeling more comfortable making these decisions digitally. However, there are several things to keep in mind if you are considering buying a home before you see it:
Don’t be fooled by photography or depend on listing photos
Photos will never give you the full picture of the condition of the house. There are many things that you can notice with your eyes that you can’t see on listing photos and videos. Photos can be edited to look amazing, and spaces can be made to appear bigger than they are in person with the right camera equipment. Selected photos won’t reveal parts and areas of the house the seller doesn’t want you to see. Photos won’t provide the true condition of the house.
Do your research
Understand the market where you want to live or purchase. Do a competitive market analysis and gather the information that can help you make a very informed decision. Extreme buyer due diligence is essential. Extensive live video walk-throughs are critical. Buyers should be sure that they can see close-ups in areas of the home and streaming videos will provide better detail. This is especially important for long-distance home purchases.
It’s best to physically be there if possible
If you are not able to be there it’s important to have someone there you can rely on. Someone you trust who can look over the property objectively and help you identify potential pitfalls or reasons to walk away. Experts agree that you need to bring in a second pair of eyes especially if you’re not able to see the home. Hiring a home inspector who can examine the house on your behalf is essential.
Be realistic and reasonable.
Even despite all of your best efforts, there’s still a chance that the purchase won’t be what you bargained for. But do the due diligence and the very important investigation work before you purchase.
The goal is to reduce risk when buying a home sight unseen. Don’t give up the opportunity to see for yourself where the property sits, the feel of the neighborhood, and other things that can’t easily be communicated with photos or videos. There’s nothing quite like seeing a home in person to know whether it’s right or not for you.