If your family is growing, it may be time to sell your current home and buy something bigger. If you’re in the market for a home right now, it may feel overwhelming. Home prices are skyrocketing, up 7.9% year-over-year in November 2021, but you still want to get the best deal and everything you’re looking for in a property.
With limited homes on the market, 15.6% fewer than the same time in Nov. 2020, you may feel like your choices are limited. Here are a few tips, though, to help you find the right property without spending too much on your investment.
1. Look for homes that have remained on the market
The first tip is to look at how long the homes have been listed on the market before electing to visit them. One that has been sitting for months may have something wrong with it or be priced much too high for the area. This is something to consider, but it could also help you get a deal in a hot market. If you’re willing to put in some work on a damaged property or are in the market for an unusual location, you could find a home for less.
2. Work with your real estate agent and attorney
You’ll want to have as many people on your side as possible when looking for real estate in a hot market. Your attorney can help protect you against being taken advantage of, which is a risk when sales are happening quickly in the sellers’ favor.
3. Don’t skip the inspection
Some people may say to skip an inspection, but you shouldn’t. If a seller doesn’t want to give you time to inspect, it’s better to pass on the property than to find out about severe issues with the foundation or safety of the property later on.
These are three tips to help you get a home right now. It can be hard, but with the right approach, you’ll find one on which to make an offer.