If you’re thinking about investing in a Canton, Michigan home anytime soon, then you’re sure to find today’s blog quite helpful.
Evidently, Time Magazine recently noted the top things that home buyers should do before they enter the market. We thought these tips were pretty insightful and so we wanted to take a moment to share them with you. Enjoy!
What You Should Do When Buying A Canton Home
First, it’s important to note the kind of real estate climate that exists right now. For the first time in a long time, the real estate market appears to have found the sweet spot, where buyers and sellers alike are experiencing great deals on the market.
Consider this: National home prices are expected to increase 4.9 percent on average this year, according to the National Association of Realtors. Additionally, 1.9 million units are on the market this year, which is a relatively healthy inventory.
And although the number of first-time home buyers were at its lowest level in decades in 2014, a new report shows that 74 percent of Americans 18 to 34 plan to buy a new home in the next five years.
Okay, Now That We’ve Established the Basics …
Here are some tips that home buyers should consider when planning their next move:
Start searching for homes soon. Make sure to use all of the resources at your disposal, but start with our incredible and detailed home search tool. CLICK HERE to access it now. After all, with interest rates expected to increase soon, home buyers are expected to really be aggressive in securing all available housing.
Choose a fixed-rate and not flex. Ultimately, you’ll pay significantly less if you do it this way. The only exception is for buyers who plan to stay in the home for less than 10 years. They may benefit from the low ARM rates during the fixed period.
Get your down payment established. In a highly competitive market, offer to put down more than 20 percent if you can afford it. This gives the seller some reassurance that even if the house appraises for less than the asking price, you’ll still be able to get a mortgage.
Work with an experienced broker. Home buyers today have plenty of information right at their fingertips, from school district reports to area amenities to comparable sales. But all of that information doesn’t replace what a broker can do for you, including offering expert advice! So make sure to find an experienced broker, like all of us here at The Bittinger Team, who not only knows the area but also the specific neighborhoods you’re looking in and also the price ranges.
Remember that you can use more than just money to negotiate with sellers. If you really can’t budget on your offer price but you still need something to sweeten the deal for the sellers, consider other options. For instance, you might suggest closing on the seller’s schedule or getting a pre-approved loan from a reliable lender. Even writing a heartfelt letter to the seller, describing how much the home means to you, can go a long way!
We’ll Help You Find Your Dream Canton Home!
Contact us at The Bittinger Team today to learn more valuable home buying tips! We’d love to help you every step of the way!
Until next time,
Noel
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