Buying a house can be one of the most exciting things you do in your life. It can also be one of the most stressful if you aren’t equipped with the right knowledge and tools.
In the past year and a half, people have spent more time in their homes than ever before. COVID-19 and the increase in the number of remote jobs have made many reconsider the place they live.
You may be asking yourself, is this a good time to buy a house?
It’s true that the housing market is at an all-time high as of October 2021. This is good news for current homeowners looking to sell and concerning news for anyone looking to buy.
Put your worries to rest by taking a look at some of these tips for buying a house in 2021.
1. Beware of Overpaying
Some sellers may be trying to sell their homes for more than they’re worth in a time like this because demand is so high and they think they’ll be able to convince a desperate buyer to pay it.
It’s important to do your research and figure out what affects the value of a home. It’s a good idea to look at comparable homes in the area you’re looking to see what price point they are selling for. If the home you’re looking at is way above the comparables, then that may be a red flag.
2. Utilize a Good Agent
If you’ve ever seen the hit HGTV show House Hunters, you know that having a good real estate agent helping you in your search can be invaluable.
They know the market better than anyone and they can tell you about any areas of concern or whether or not a house is within your budget.
If you’re looking to buy in the Wisconsin area, check out these house hunters to find a home you love in no time.
3. Have Some Money Saved
Sellers are going to put buyers who are ready to pull the trigger, put money down, and sign a contract as quickly as possible at the top of their lists.
Make sure you have enough for a down payment and any closing costs you may need to provide before you begin looking to ensure you are ready.
4. Decide What You Want and Stick to It
Make a list of non-negotiables that you want your next home to have. This will prevent you from settling for a house just because you liked the way the kitchen or backyard looked.
It’s easy to get caught up in the process of buying and forget what your priorities are. Keeping a list will help you remember them when things get crazy.
5. Consider Saying “No” to Contingencies
One of the main contingencies agents will put on a home is an inspection. Sellers in this market will be more willing to sell you their home over others if you waive these contingencies.
While it can be scary to buy a house without a professional inspection, it may be what makes you stand out from the other interested buyers. Just be sure to look at the home with a critical eye and watch out for common problems.
Have Fun Buying a House in 2021
You deserve to live in a home that makes you happy. Don’t let the fear that can come along with buying a house keep you from that.
Do your research, find a reliable agent, and have fun.
For more home buying tips, check out our blog. The perfect home for you could be just around the corner!