Finding the ideal accommodation is often an emotional affair. After weeks of research, disappointing visits and sometimes several rejected offers, some buyers finally come across the property that seems perfect to them. At this point, the risk is to let the crush take over the objective analysis. In a market where certain attractive properties sell quickly, the fear of missing out can lead to hasty decisions: making an offer at the price without negotiating, ignoring certain defects or neglecting essential checks before purchasing.
This phenomenon is far from being marginal. “We observe it very often”confirms Jérôme Herry, Success Developer Méditerranée at Mon Chasseur Immo. He says many buyers are willing to go over budget or overpay for a property simply because they immediately project themselves into the place. However, an attractive apartment can hide nuisances, major work or a price disconnected from the local market. To prevent a crush from turning into a costly mistake, the expert recommends maintaining a rigorous method at each stage of the real estate project.
Real estate: why falling in love can make you lose all sense of reality
When emotion gets involved, some sellers or real estate agents can increase the pressure by mentioning the existence of other interested buyers. “The real estate agent can play on this a little and make it clear that there are other buyers behind it. And there, we can lose all rationality and start with prices that are not necessarily market prices”warns Jérôme Herry. The risk is then to pay more for the good than it is really worth or to overlook certain defects which are nevertheless important.
Signs that a buyer is no longer rational
For the expert, several behaviors must raise alarms. The first consists of only looking at the accommodation itself without paying attention to its environment. “Often, the buyer will just go look at the apartment but don’t go looking at everything that’s happening around »he observes. However, the common areas of a building can reveal valuable information. “You have to go see the cellars, go up the stairwell even if there is an elevator, make sure everything is in good condition”advises Jérôme Herry.
Another classic sign: the tendency to minimize the defects of the property. “If it faces a noisy street, it’s not too bad. If the DPE is not very good, it doesn’t matter, I will do some work. We tend to minimize certain defects to convince ourselves that it is the right apartment”he explains.
An example of a crush that could have been very expensive
Jérôme Herry notably remembers a client accompanied by a real estate hunter from his team. During the first visit, the apartment seemed to meet all the desired criteria. “Favorite, apartment, everything perfect”he summarizes. The client wanted to make an offer immediately to prevent the property from slipping away. But one detail caught the attention of the property hunter: it was impossible to visit the cellars during this first visit, the real estate agent explaining that he did not have the keys.
Two days later, a new visit is organized. In the basement, the team then discovered several metal props intended to support the structure of the building. “We actually saw these props in the cellars and in fact there were structural problems in the building »says Jérôme Herry. Without this additional verification, the customer would probably have made an offer immediately after her first visit. “She absolutely wanted to make the offer because she didn’t want the property to pass under her nose”explains the expert.
Eventually, the purchase was abandoned and other accommodation was found. An example which perfectly illustrates the benefit of never limiting yourself to the apartment itself and systematically visiting the common areas, including cellars, before committing.
Why you should always revisit a property
A crush during a first visit should never lead to a hasty purchase. “It’s good to go and revisit the good and above all at another time of the day »recommends Jérôme Herry. A quiet apartment at 3 p.m. can be much noisier at 7 p.m. Traffic, neighborhood, parking, noise pollution: so many elements that are not always discovered during a single visit. “You always have to bring a lot of rationality”he insists.
The documents you absolutely must consult before making an offer
Beyond the visit, several documents deserve particular attention. “It’s still important to go look at theminutes of general meetingsdiagnostics and, when they exist, multi-year work plans”explains Jérôme Herry. These documents make it possible in particular to identify possible future work, recurring problems in the co-ownership or even future expenses which do not necessarily appear during the visit. The expert also recommends asking all the necessary questions to the seller, the real estate agent or even the trustee when possible. “Don’t be afraid to ask questions”he emphasizes.
Setting a maximum budget is essential
To avoid overpaying for a good, the first step is to know precisely your purchasing capacity. “Before even starting your search, you must have validated your budget with a broker. For us, it remains obligatory”says Jérôme Herry. And this envelope must be respected. “I have a budget of 300,000 euros, I’m going to look at properties at 350,000 euros and tell myself that I might be able to negotiate them: this is not the right strategy »he warns. The expert also recommends thinking in terms of overall cost by integrating not only the price of the property, but also notary fees, agency fees and any work.
A checklist can avoid many mistakes
When you begin your research, it is common to draw up a list of essential criteria: exterior, number of rooms, location, transport, parking… For Jérôme Herry, this list must remain the buyer’s compass. “Buyers tend to settle on criteria that were essential, simply because they fell in love”he notes. His advice? Systematically repeat this checklist after each visit in order to objectively verify whether the property really corresponds to the initial needs.
The golden rule: know the market
If Jérôme Herry had to remember only one piece of advice, it would be this: “Market knowledge is essential. » This involves, in particular, regularly consulting advertisements and observing the prices charged in the targeted neighborhoods. “It’s good to cultivate the market, to watch a lot of ads to get your education around prices »he explains.
This precaution is particularly important for buyers who change regions. “A Parisian who buys in the provinces may have the impression that everything is cheap. Yet, he can still overpay for a good compared to the true local market price »recalls the expert. In real estate, falling in love is often necessary to take the plunge. But to avoid paying for a property several tens of thousands of euros above its real value, it is better to never let emotion decide alone.
