Buying your first home is an exciting, often overwhelming, experience. There are so many details that need to be in place before the looking can even begin. This market presents its own set of challenges, too. Many investors are actively seeking to purchase entry-level homes and often are making cash purchases, non-contingent on an inspection, and offering more than list. How can a first-time home buyer compete?
While it may seem like the odds aren’t in your favor, there are a few things you can do that will make finding your home a bit easier. As you embark on this journey, keep in mind you may have to compete for a home—and may still lose it. At the end of the day, if you’re out looking and losing house after house, just know that it wasn’t the right house for you.
Here are a few things to consider before you start searching for your first home:
- Have your financing in place. Know how much you can put down and be sure you can cover your closing costs, especially in this competitive market.
- Be prepared to move quickly, but allow time for the process.
- Make sure you’re consistently checking the MLS site (not a third party site) to get the most up-to-date listings.
- Partner with a real estate advisor that knows this market, is prepared to move at the same pace as you are, and most importantly, that you trust.
The last piece of advice we’d like to impart is to become as educated as you can on this process. You may have to write offers on a few different homes, but know this is part of the process. Don’t become discouraged.
If you’re ready to begin this exciting process, we’d love to partner with you. Contact https://www.wightmanbrock.com/contact/ today!