As she hunted for a home this summer, first-time buyer Xinyu Li found herself feeling emotionally overwhelmed.
Xinyu’s psychotherapist advised her on mindfulness strategies and suggested looking at online listings just once a day.
Partly it’s the sheer size of the transaction — a house is the largest single purchase most people make.
“There’s a deeply emotional tie to homeownership in general,” says Ryan Gorman, president and CEO of Coldwell Banker Real Estate.
During the coronavirus pandemic, home prices have risen at a double-digit clip.
“The biggest source of buyer disappointment is losing out on a property,” says Xinyu’s broker, James McGrath of real estate brokerage Yoreevo.
Coldwell Banker’s Gorman suggests a “level-setting conversation” with your real estate agent to establish expectations around pricing, pacing and the level of competition.
“I’m not sure that endless Googling is going to give you any more information.
“A lack of information creates a void that is often filled by fear,” he says.
By dispensing with that bit of uncertainty, you can narrow your focus to choosing the right home.