Buying in Today’s Housing Market | Aiken, SC

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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