If you’re looking to buy your first home, you’re likely balancing several factors. Mortgage rates and home prices have risen this year, and it costs more to buy a home than it did just a few months ago. But that doesn’t mean you have to put your plans on hold.
If you partner with an experienced real estate agent and hone your strategy, you can navigate today’s market and find the home you’re looking for. Here are two tips to help you get started.
Work with a Professional To Prioritize Your Wish List
If you’re having trouble finding a home in your budget that checks all the boxes, it may be worth looking at your lists of what you want and need. If you’re serious about purchasing your first home soon, be flexible in what you’re looking for to open up your pool of options. Partner with a local real estate professional to better understand what’s available in today’s market and reprioritize your wish list. Remember, making a concession now doesn’t mean you’ll never have everything on your list. After you’ve moved in, you can always add certain features to make the home your own.
Increase Your Search Radius To Consider More Locations
Some areas may have more homes within your target price range, but it may require you to be flexible on your location. For example, if you’re a remote worker, you may be able to expand your search radius. The decision to search for places with a lower cost of living could help you find a home that fits your budget and check the most boxes off your wish list.
If you’re serious about purchasing your first home this year, revisiting your wish list and the desired location can help. Connect with an agent to explore all the options in your local market so you can achieve your homeownership dreams.