Maybe you haven't even thought about it, but if buying or selling a home is one of your 2023 goals, it’s essential that you understand today’s housing market, define your goals beyond just buying or selling, and work with industry experts who can help you make decisions today that will continue to serve you well into the future.
In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want in the long term out of buying or selling a home.
Danielle Hale, Chief Economist at realtor.com, explains:
“The key to making a good decision in this challenging housing market is to be laser-focused on what you need now and in the years ahead so that you can stay in your home long enough that buying is a sound financial decision.”
Here are a few questions to help you you fine-tune your real estate goals for 2023.
1. What’s Motivating You?
You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many compelling reasons to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time and have a space that’s truly your own. Use what’s motivating you as a guidepost in partnership with an expert advisor to help make sure your move will pay off for years to come.
2. What Does Your Next Home Look Like?
You know you want to move, but how would you describe your dream home? The available supply of homes for sale has grown, and that likely means more options to choose from when you buy. Just be sure to keep your budget in mind and work with a trusted real estate professional to balance your wants and needs. The better you understand what’s essential and where you can be flexible, the easier it can be to find the home that’s right for you.
3. How Ready Are You To Buy?
Getting clear on your budget and savings BEFORE you start looking at houses is essential. Discussing your situation with a local agent and a lender early in the buying process is the best way to make sure you’re in the best position to buy. This could include planning how much to save for a down payment, getting pre-approved for a home loan, and assessing your current home equity if your move involves selling your existing house.
A Professional You Trust Can Guide You Through Every Step of the Process
Buying or selling a home is a big process that takes expertise to navigate. If it all feels a bit overwhelming, you aren’t alone. According to a recent Harris Poll survey, one in five respondents sees a lack of information or knowledge about the home-buying process as a barrier to owning a home or upgrading to one that better suits your current lifestyle. Don’t let uncertainty hold you back from your goals this year. I can help you bridge that gap and give you sound advice and information about today’s market and what it means for you.
Bottom Line, Unsure what your real estate goals are? Curious if now is the right time to buy or sell? Let’s connect and discuss your situation. I'm ready to help you get the information you need, find a lender you can trust, and help you get answers to any questions you may have. My goal is to help you make real estate decisions that will serve you well for years to come. Call or text me today at 704-838-6945, or email me at tracy@ijbproperties.com.