Forget the Open Floor Plan--It's Time to Bring Back Walls

After contending with more than a year of record-high and fast-rising home prices, ruthless bidding wars, offers that are all cash and 10% to 20% over the asking price, and a historic shortage of properties for sale, many shoppers in today’s pandemic-fueled housing market are suffering from buyer fatigue. Some are burned out and taking a break, or leaving the market entirely. Others fear another housing bubble is on the horizon (even though real estate experts believe that’s not likely) so are sitting this one out. And there are those who were priced out as home prices rose higher than their budgets. “The ultimate sign of buyer fatigue is putting a search on pause,” says  Realtor . com ® Chief Economist  Danielle Hale . “I can understand how in today’s tough market some buyers may not be willing to keep searching. 0 seconds of 2 minutes, 39 seconds Volume 0% 00:47 02:39   “The ultimate sign of buyer fatigue is putting a search on pause,” says   Realtor . com ® Chief ...

  Homebuyers have been through the wringer this past year. They’ve faced sky-high prices, epic bidding wars, and a historic shortage of properties for sale. But if they wait just a little bit longer, they may be able to get an edge in this cutthroat housing market. The best time to purchase a home will be the first full week of October, according to a recent Realtor.com® report. Experts are predicting an additional 100,000 sorely needed homes could go on the market in the week of Oct. 3–9. And these properties could be cheaper than they were over the summer, when families desperate to nab something before the school year snapped up whatever they could find. However, in some of the larger metropolitan areas, the best time to buy could be the week of Sept. 12–18. Real estate experts predict that’s the case in New York City, Los Angeles, Boston, Minneapolis, Denver, and Portland, OR. “Buyers who think that now is the time to buy should get ready,” says Realtor.com Chief Economist...

  1. Painting walls a dark color “Dark colors draw the eye inward, making a small space seem confined,” says  Pramiti Bhargava , interior design and staging expert at BlueGrape in San Diego. Trick the eye into making your rooms look bigger and wider by painting all walls neutral, light, or earthy tones so they seamlessly blend and look as spacious as possible. 2. Using large or out-of-scale furniture Bulky furniture can make a space feel smaller and cluttered and may have visitors heading for the door. “A common mistake people often make while decorating is cramming too many pieces of furniture into a small room,” says  Challie Stillman , vice president of sales and design at Resource Furniture. “Small spaces need to perform multiple functions, like sleeping, lounging, working, and dining, but adding a piece of furniture for each task can quickly overwhelm a room and make it feel much smaller than it actually is.” Another mistake is overfilling a room with oversized ...

  1. Forgoing an inspection in the first place Sure, most people know they should get an inspection on a home they’re buying from someone else. But  Michael Marlow , Certified Master Inspector® and owner of Veteran Home Inspections in San Antonio, TX, finds that many buyers tend to skip an  inspection when buying new construction . And that’s a mistake. Another word of caution:  Don’t skimp  on extra inspections that might be needed for your specific property. Think: pools, septic systems, or wells, as well as other potential issues such as  radon  or lead that might fall outside of a normal home inspection. 2. Choosing the cheapest inspection option There are a lot of inspectors who offer very low prices for home inspections, Marlow says, and that could indicate they’re new and inexperienced, or that they’re having trouble finding clients. Of course, we’re not saying you should never opt for an affordable inspection, or that all af...

Myth No. 1: The first step is looking for a house Perhaps you just want to get a feel for the area. You know, have something in mind before you sit down with a Realtor®. I mean, you’re not  really  looking yet, right? Stop right there. Even if you think you’re just browsing, you run the risk of setting your heart on something, only to have it broken. “A buyer might be viewing homes that are in a higher or lower price range than what they are qualified for,” says  Connie Antoniou , a broker associate in Barrington, IL. Browsing is always fun, but when it comes to serious home-buying work, you need to make sure your credit is in top-notch shape before you get started for real. Also, don’t forget to get  pre-approved for a mortgage  before you embark on your home-buying journey. This will determine what your budget is. Myth No. 2: A 30-year mortgage is the best option If you think that the longer you agree to invest in your home, the cheaper the mort...