Balance Your Needs and Wants as a Homebuyer this Spring
Although there are more homes available now than last year, there is still a shortage of houses. According to the monthly Housing Market Trends Report by realtor.com, “While the number is increasing, it’s still 43.2% less than it was prior to the pandemic in 2017-2019.” This means that the number of homes for sale on a given day is still lower than it was a few years ago. Buyers who are able to distinguish between a necessity and a nice-to have will be more successful in their home-search. Pre-approval is the first step in getting a mortgage. Pre-approval allows you to better understand the amount you can borrow for your home loan. This will help you put together your list. You don’t want your dream home to be out of reach. Once you have a clear idea of your budget, the best way for you to prioritize the features you need in a home is by creating a list.
Nice-To-Haves are features that you would love but can’t live without. Although they aren’t essential, nice-to-haves can be a dealbreaker if the home meets all your must-haves.
Dream State – This area allows you to think big. These are not features you will need, but if you can find a home within your budget that includes all the must-haves and most of the nice-haves, it’s a clear winner.
Once you have created your list and categorized them in a way that suits you, talk to your agent. Your agent will be able help you refine your list and coach you through the best ways of sticking to it. They can also help you find the right home for you in your area. Connect with a local agent if you are ready to find the right home for you. Click Here to learn about the newest feature of KCM, Personalized Posts.