Have you tried searching for a house to buy in today’s market? If you’re like most buyers in 2021, you’re likely very frustrated with how difficult the process has been. It’s easy to feel like you have no chance of finding your new home anytime soon, but I’d like to assure you not to give up. There are some important steps you can take to find homes in a low inventory market if you’re still determined to buy a house.
Consider a fixer-upper
Oftentimes, prospective buyers like to focus on move-in ready homes and for good reason. Depending on your timeline for needing to move, having a home that needs little renovations in a timely manner is quite convenient. However, if you’re having a hard time finding a home in this market, you may want to open your options to fixer-upper homes. These homes will require more work on your part to upgrade and update different aspects of the home, but it often proves worth it.
With that being said, it’s still important to have a home inspection done before you buy so as to ensure there aren’t too many major issues that could end up breaking the bank. Issues like asbestos, a leaky roof, termites, and so forth should be caught prior to closing in on a deal.
Expand the market search
Trying to find a home that’s only been on the market for a short period of time, particularly in a seller’s market, can often hinder your ability to find the right home. Consider expanding your search for homes that have been on the market for a longer period of time. Some of these homes may not be in tip-top shape but, like with fixer-uppers, have a lot of potentials if the issues are largely minor. Other homes that have been on the market for a month or so maybe overpriced. Approaching the negotiation process with this in mind may help you lower the price to a more reasonable level, allowing you to get a great deal on home others didn’t give the time of day.
Take advantage of social media
There is no rule that says you can only find housing listings on websites like Zillow. If you know where to look, you can often find what you’re looking for on social media. Take Facebook, for instance. Often times certain cities or neighborhoods have their own social media group page for people to join and provide insight to a plethora of different issues surrounding the community. You may even be able to find ideas regarding house listings that you won’t be able to find on more conventional websites. Perhaps someone trusted on the group page (like an administrator) can even point you in the right direction. As long as you do your own homework to make sure the source is reliable, you never know what results will turn up.
This may sound like a broken record depending on your situation but holding fast to patience is the ultimate key to this process. Even if it means waiting an extended period of time for a promising option to show itself, it will be worth it, in the long run, to invest wisely in your home and your future. Whatever you do, do not give up!
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- Learn about Downtown Mesa
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- The Luxury Home Market is Attractive in 2021
- How Buying a Home Affects Your Finances