Why Haven’t We Purchased Our New Abode as Yet?

At Abode Advocacy Group, we understand the frustrations and challenges that homebuyers face in their quest for the perfect abode. Let’s delve into some common hurdles they might encounter along the way, as explained by Matt and Dion, buyer’s agents at Abode Advocacy Group.

1) Lack Of Stock:
“In Melbourne, the real estate market has seen a dwindling inventory of available properties in recent times,” says Matt. “This scarcity can lead to fierce competition among buyers, making it challenging to secure a desirable home. Factors such as limited new developments, low housing turnover, and high demand contribute to this shortage. This is why it is vital to work with a buyer’s agent that operates in the area you’re searching and can unearth off-market and pre-market properties based on their relationships with agents in the area,” adds Dion.

2) Budget:
“Budget constraints often pose a significant obstacle for buyers,” explains Matt. “They may find themselves having to reassess their financial limits to align with the realities of the market. Our advice to them is to work closely with their buyer agent to evaluate their options and possibly adjust their budget accordingly. Early feedback on budget feasibility can streamline the search process and prevent disappointments later on. It’s worth noting that some buyer agents take on clients that they know are budget restricted, rather than advising them at the buyer discovery meeting like we do. We believe in transparent and honest communication from the start to ensure a successful home-buying journey,” shares Dion.

3) Location:
“Sometimes, buyers fixate on a particular suburb or area without considering alternative locations that may better suit their needs or offer more affordability,” notes Matt. “Moving a few suburbs away from the CBD can open up a wider range of options and potentially put buyers in a stronger negotiating position. Flexibility in location preferences can greatly expedite the search process. Abode Advocacy Group secure over 80% of their abodes in Melbourne’s East, so they are experts and often open different suburbs or even pockets that may perfectly suit you,” adds Dion.

4) Accommodation:
“Buyers may find themselves needing to compromise on certain features such as the number of bedrooms, living space, or parking amenities,” advises Matt. “Making concessions, such as opting for a single-car garage instead of a double or sacrificing extra rooms, may be necessary to stay within budget or find a suitable property in their desired area. It’s best to ask yourself what is more important; the accommodation, for example, for those with an expanding family, or location, for those who are looking for a particular lifestyle over space. Understanding your priorities can help streamline the decision-making process and ensure you find a home that aligns with your needs and preferences,” shares Dion.

5) Uniqueness:
“Some buyers have specific criteria or unique preferences that make their search more challenging,” acknowledges Matt. “Whether it’s a rare property type or a list of must-have features, finding the perfect match may take longer than expected. Patience is key, and having a dedicated buyer agent who is committed to understanding and fulfilling these requirements can make all the difference,” agrees Dion.

In conclusion, the journey to finding the ideal abode is rarely straightforward. It often requires flexibility, patience, and guidance from knowledgeable buyer agents like Matt and Dion at Abode Advocacy Group. We pride ourselves on navigating these challenges alongside our clients and ensuring a smooth and satisfying buying experience.

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