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Realtor.com is now offering Price Perfect, a tool designed to help potential homeowners understand their full buying power. Price Perfect helps homebuyers to configure their ideal home, within a desired price range, in their neighborhood of choice.
"Our research shows 'How much can I afford?' is one of the biggest pain points for home shoppers," said Brad Sivert, General Manager and Head of Mortgage for Realtor.com. "With Price Perfect, buyers have more insight into their spending power by showing them the impact of adding or subtracting specific home features, such as an extra bedroom, bathroom or adding a garage. It empowers them to find the right home that is both affordable and has the features that are most important to them."
According to the company, homebuyers can enter a basic search of bedrooms, bathrooms and location and then view how much adding or subtracting specific features would impact the price of their home, thus enabling them to adjust their search accordingly. Once the buyer decides on their desired features, they are shown the monthly payment for the median-priced home broken down by mortgage, property taxes and insurance. After that, buyers can view all Realtor.com listings that match their specific search criteria.
Homebuyers are able to access Price Perfect on the Realtor.com Web site, and the tool will be made available at a later date on the company's iOS and Android app.
