If you’ve been thinking about buying a home, you may have been watching the market over the past couple of years and wondering… when is the right time? You may have heard it’s been a seller’s market and that housing inventory is low. You wouldn’t be wrong about that, but things are changing.
Today’s market conditions are showing a shift, and the supply of homes for sale IS increasing. But it’s important to know that it’s still a seller’s market, so you need to be prepared when starting your homebuying search.
One of the most important tips I can give you is how important it is to work with a real estate professional. I’ve been helping home buyers and sellers in the Palm Beach County area for almost 20 years, and I’ve seen the ups and downs of the market over the past two decades. I can help navigate you through this one!
No matter where you’re at in your homebuying journey, it’s important to work with a real estate professional that knows the local market, can help you to find available homes (on and off market), and someone who works with an experienced and trustworthy mortgage broker to help you make your dream a financial reality.
Another tip is to be flexible and open to exploring different options during the search for your dream home. If you have your mind set on a certain style home or area, you may want to expand to places that will allow you to increase your pool of options. You may surprise yourself and find your perfect home in a different area or even choose a newly built home vs. buying an older home that may need work.
I always do my best to find the home of your dreams, but while inventory is low, I ask my buyers to keep an open mind and seek all options during times like this.
My last, but not least tip would be to know your budget – really know your budget. If you’re going to be mortgaging your home, you’ll need to know that rates have increased significantly over the past year and what you could afford a year ago may not be the same as now.
