When a market is hot, finding and buying a home can feel like an uphill battle. In a seller’s market, homes go quickly. They can be on the market one day and gone the next. And on top of the challenge of finding a home, most homes (especially the desirable ones) have multiple offers, making it harder to get into the home of your dreams.
But buying a home in a hot market isn’t impossible! You just have to approach it strategically and stack the deck in your favor to find – and successfully buy – the right home for you and your family.
Here are four tips for buying a home in a hot market that will put you a step ahead of the home-buying competition:
Photo Courtesy of B&M Photography
To buy a house or not to a buy a house, that is the question. It’s a big decision, some would say due to the huge impact it can have on your lives it’s the biggets decision you’ve ever made. Some people will tell you to buy a house right away, others will tell you to wait a few years. These opinions vary between friends, family members, co-workers, even Mom and Dad might disagree on the right thing for you to do. Who’s right, what should you do?
Well, the short answer is that it’s completely up to you. You should rely on the advice of friends and family, their experiences can save you a lot of trouble, but in the end no one can make this decision but you and your spouse. As a Realtor, I get asked all the time by nervous buyers whether I think they are making the right decision and while I am happy to give advice, my answer is always the same, it doesn’t matter what I think, because in the end YOU will be living in whatever home you buy and YOU will be paying for it. For that reason and that reason alone, you need to tune out everyone else’s opinions and focus on what you want to do.
Welcome Back Readers! It’s been a hugely busy month for me in real estate, with the end of the Federal Tax Credit for Homebuyers the Lancaster County real estate market has warmed up with the spring! Even as we close the door on the tax credit, there are many, many other incentives still available for buyers though as we proceed through summer.
For example, I wrote a post a few months ago about Fannie Mae offering 3.5% closing costs assistance/appliance credits for buyers. Due to the popularity of this program (according to Fannie Mae that is), they have extended the program through June!
Click through the “Read More” link after the jump for all the details!
