The Eighty to Eighty-Five Rule

The Eighty to Eighty-Five Rule

Every buyer wants the perfect house. It doesn’t matter if it’s their first home or their fifth home. The only difference between both of those buyers is experience. Typically the buyer on their fifth home knows what to expect out of the home buying process where the first time home buyer still feels for the amount of money they are paying for a home it should come with one hundred percent of what they want.

First time home buyers in this market are quickly learning that if the home has eighty to eighty-five percent of what they are looking for they need to try to get that house. No home is perfect. It doesn’t matter if you’re looking at a home that’s one hundred and fifty-thousand or six and a half million. The difference is the experienced home buyer knows that no house is one hundred percent.

With the buying frenzy that now seems to be coming in spurts it’s becoming more and more important to understand that finding a home in this market is like finding a needle in a haystack. There won’t be many options available once you take away the homes that don’t matter. With the handful left if they fit what you’re looking for you have to go for the home because next week they will more than likely not be there.

For first time home buyers this can mean settling on a home; something no one wishes to do. Sometimes it takes a lot of pain, losing house after house after house, in order to realize the simple rule of eighty to eighty-five. Our goal as Realtor’s is to help our buyers get to this truth without having their teeth kicked in too much. Without having our buyers lose their dream home two, three, four times. The simple truth is it’s not on us or up to use to realize this; it’s up to our buyers. We can only explain the rule and persuade them not to miss out on their perfect home. If you’re looking to purchase before the end of summer remember the eighty to eighty-five percent rule. If the home has eighty to eighty-five percent of what you want then it’s imperative you write an offer. Don’t wait for the next best thing and lose out on the home that was perfect for you. Remember the grass will always look greener.

Marc Bayes is a Broker Associate with the Colorado Dream House Team, Keller Williams Realty DTC. Contact Marc at 303-619-3052, marc@coloradodreamhouse.com, codreamhouse.com or coloradodreamhouse.com  

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