Top Tips to Buy a Home in 2019
A new year means a fresh start for everyone. If you’re looking to take a leap and make that big move in 2019, we have the tips to make sure you’re a winner this year. Here are our top tips to buy a home in 2019.
Preview the Market
Navigate the low-inventory market by asking your agent about any “Coming Soon” listings. These are homes that have yet to hit the market but will soon. These homes will allow you a sneak peek and give you a great advantage against other potential buyers when searching for your perfect home.
Down-Play Down Payments
One of the biggest myths in the real estate market is that the average down payment for a home is 20%. In reality, you do not need to have a 20% down payment ready to get the home of your dreams. Today, most buyers on average actually pay a 10% down payment. While a higher down payment saves you additional payments down the road, some buyers even pay just 3-5% down in 2018. Your agent and lender will be able to help guide you when picking a loan option that’s right for you.
Consider All of the Options
With low inventory and home prices on the rise, consider all of your options when looking for the right home. Consider a fixer-upper or older home; think about listings that may not have everything on your checklist, but have a high amount. Fixer-uppers can be great investments and provide you with the opportunity to make a home your own. Alternatively, you may find a hidden gem looking at homes that have been on the market for a while. Older listings don’t always mean there is something wrong with the home, a lot of times a home may have just been overpriced to begin with.
Navigate Interest Rates
Interest rates are predicted to rise in 2019, but only by a minimal amount. Easily navigate higher interest rates with a game plan: pick and choose your wants and needs in advance to make sure you can find a home that fits your budget.
With inventory tight, the market will continue to be in favor of the seller’s. Combat low inventory with preparation – be ready to make competitive offers, know what you want and make sure to have a real estate agents that fits your needs.
With these tips and tricks, you’ll be ready to expertly navigate the competitive buyer’s market this 2019.