3 Considerations When Buying a Home in a Competitive Real Estate Market

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As real estate professionals are watching the current trends in the industry, it is common for the topic to come up about the competitive real estate marketing. Home prices are on the rise and inventory is low, which means that it is a great time for people who are selling their homes. But, it can be a bit of a challenge on the buyer’s side to find the right home in your price range.

Not only are the options limited, but you are likely competing against other buyers who are interested as well. Here are a few things to think about if you are preparing to buy a home:

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1. Be Flexible with Your Must-Have List

While it is important to communicate the must-have details to your real estate agent, you might need to make a few adjustments if you want to find the right home for your family. For example, if you are having a hard time finding the luxury kitchen that you desire at a price point you can afford, then be open to the idea of buying an older home and investing money into renovations of the property.

2. Be Ready to Make an Offer

When you find the right home that matches your needs, you need to be ready to move fast. You don’t have the luxury of waiting a few weeks, because it is likely that the property will be under contract at that point. Instead, you need to have your offer details and pre-approval information ready for submission so that you can move quickly when you locate the home of your dreams.

3. Enlist the Services of a Real Estate Agent

You might assume that a DIY (Do It Yourself) approach for the home search is a way to save money. But, there are many benefits that you are giving up if you don’t enlist the services of an experienced real estate agent. It is essential that you have a trusted expert by your side to help with the negotiations and paperwork that is required when you are buying a home.

Lloyd Mize is here to help with your real estate purchase. Call him at The Lloyd Mize Realty Group at (951) 551-1677