There’s no denying that it’s been a tumultuous few years for homebuyers. Between rising mortgage rates, low inventory, and a changing competitive landscape, it can feel like there’s a lot of things out of your control.
But while there may be many things you can’t control as a buyer, there are certainly things that are in your control, and focusing on those can help put you in a better position to successfully buy a home.
So what, exactly, are those things?
A recent article from realtor.com outlined elements that are in homebuyers’ control, even in this turbulent market, including:
- Your price range. While your lender (if you’re buying with a mortgage) determines how much you can spend on a home, you get to decide how much of that amount you actually spend, and can adjust your home search based on the price range that fits your criteria. That way, you’re not seeing properties that are above the upper limit you’re comfortable with, which will not only save you time and energy, but can also help save you from falling in love with a property you can’t afford.
- What kind of home you’re going to buy. In order to meet rising demand, building of new houses has ramped up in recent years. Often, buying a newly constructed house can be a better fit for buyers than an existing build. Why? Because builders often offer incentives to get people to buy, which can help you save money on your purchase, and because everything is new, you don’t have to worry about replacing anything soon after you move in, which can also save you money.
- Your real estate agent. As a buyer, you get to decide the real estate agent you work with, which is arguably one of the most important choices you’ll make during your home search. The right agent can make a huge difference in the homebuying process, making it easier, faster, and less stressful, so make sure to choose wisely.
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