If you are in the market for a new home, chances are a well-meaning friend or family member has offered their opinions on why now is the worst time to purchase a home. This opinion doesn’t just come from family and friends and doesn’t always rely on market conditions. Regardless, the potential for frustration and exhaustion remains. But does this have to be the case? And perhaps more importantly, is this the case? Although the constant drumbeat of skyrocketing costs and low inventory is enough to put many homebuyers’ plans on hold, it doesn’t and shouldn’t, have to be the case. Purchasing a home should be an exciting, not an exhausting time. The struggles the economy has had, and are having, during the pandemic are all too real. What is the recent past had been a buyer’s market has shifted into a strong seller’s market. But does a competitive market necessarily equate to Buyer Fatigue? Should it? There are a great many variables that make home-buying a smart move, regardless of market conditions. Here are five key strategies (one being a must-have!) that can set homebuyers on the path to their dream home without frustration and without fatigue.
Be prepared. While it’s true that time isn’t necessarily on the homebuyer’s side during a seller’s market, collecting the required documents, before house hunting begins in earnest, will save valuable time and can put buyers in the perfect position to have their offer moved to the top of the list. Pay stubs, tax returns, bank statements, personal and business references, should be gathered in advance.
Be available. Rather than waiting for a more traditional, buyer-friendly time to see a house, such as Saturday afternoons, make yourself available during the day, or during evenings to tour a home.
Be knowledgeable. Real estate agents stay on top of interest rates and know what low, or high, rates can mean throughout the course of a home loan. Buyers should also keep themselves aware of interest rates and the housing market in general. Researching prices houses are selling for in their preferred area gives buyers a range of current prices.
Be flexible. Buyers willing to make concessions, where possible and reasonable, can turn a good offer into a winning bid. Flexibility on issues such as extending closing and move-in dates could go a long way in setting one offer above the rest. Be willing to negotiate and compromise.
And the one must have:
Be pre-approved, not pre-qualified.
With interest rates at near-record lows, these strategies can make purchasing a home now a very smart and fatigue-free move for the future.
If you are in the market for a new home, chances are a well-meaning friend or family member has offered their opinions on why now is the worst time to purchase a home. This opinion doesn’t just come from family and friends and doesn’t always rely on market conditions. Regardless, the potential for frustration and exhaustion remains. But does this have to be the case? And perhaps more importantly, is this the case? Although the constant drumbeat of skyrocketing costs and low inventory is enough to put many homebuyers’ plans on hold, it doesn’t and shouldn’t, have to be the case. Purchasing a home should be an exciting, not an exhausting time. The struggles the economy has had, and are having, during the pandemic are all too real. What is the recent past had been a buyer’s market has shifted into a strong seller’s market. But does a competitive market necessarily equate to Buyer Fatigue? Should it? There are a great many variables that make home-buying a smart move, regardless of market conditions. Here are five key strategies (one being a must-have!) that can set homebuyers on the path to their dream home without frustration and without fatigue. 
