Every day we get the question is it a good time to buy or
sell a home? In this video we talk about buying a home, when is a good time?
Here are seven points to consider.
#1 Individual
Decision
Buying a house—in
any market—is a highly personal decision. It is the largest, single purchase
most people will make in their lifetime. If you are thinking of relocating …
Don’t buy! Wait until you are sure you want to stay in a home 3-5 years.
#2 Solid
Job & Steady Income
Being
in a good financial position is important. Hate your job? Planning on leaving
or thinking you may be fired…don’t buy now! Buy when your job is solid with a
steady income, if you are the person who will be on the mortgage.
#3
Emergency
Cash
Would
all of your emergency funds be completely tapped out if you bought a home? Don’t’
buy now. Make sure you have some sort of nest egg for unexpected emergencies.
#4
Got 1-3 Covered
So,
you are in good position to buy but trying to predict what might happen next
year. Most experts say this is probably
not the best home-buying strategy. The best time to buy is when you find a home
that you like, that meets your current needs and that you can afford. Still not
convinced?
“Based
on Aiken MLS data Market Trends Jan. 2022- August 2022 and Jan. 2023- August
2023’ As of August 2023, the Median nor the Average home prices have not
dropped for 2023… it increased! Saving ½ to 1 percent of interest rate sounds
good but if the home prices rise 5-10% like this report shows you have not
saved on your monthly house payment since the price went up. Don’t wait, if you
are ready and wanting to buy a home.
#5 Stay Flexible
Have
reasonable expectations on what type of home you can purchase for your price
range. Getting on housing ladder now is worthwhile to begin building equity and
net worth. If you are already on the housing ladder and it is time for you to step-up,
we can help you with that balancing act of selling and buying.
#6 Have your
Ducks in a Row
Do
this in advance: Meet with a lender and provide the required documents to get
pre-approved NOT pre-qualified. If you are cash buyer, have a proof of funds
letter available. You will be in a better position to act fast in this market.
#7
Choose Wisely
Do
not call your friend who just got in the business or someone’s name on the for-sale
sign. Do some real research, make sure they have the time for you, read
reviews, go to google, Realtor.com, ask a few trusted friends for some trust
worthy REALTORS®,
better yet interview a few agents. YOU need to work with hard-working, trustworthy,
knowledgeable REALTORS®,
that will work for your best interests throughout the homebuying process and
even afterwards.
Crucial
Edge
This
will give you the crucial edge in a tight, trending housing market.
Brandi
Cook + Vikki Crossland
803.645.3325
| info@aikenhomes.com
Meybohm
Real Estate
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