Knowing Your Wants and Needs in Today's Market
When looking to buy a home in today's market, it is important to prioritize your wants and needs. This can help you determine the type of home that will best suit your lifestyle and budget. By taking the time to consider what features are most important, you can find a property that fits all of your requirements.
With mortgage rates higher than last year, it's important for those looking to buy a home to be strategic and mindful of their budget. Danielle Hale, Chief Economist at realtor.com, advises potential buyers to focus on what they need now and in the future rather than stretching their budget too far. To ensure they find the right home for them, she recommends making a list of desired features before beginning the search.
If you have identified a home in your budget that has all the essential features, most of the desirable ones, and any of the extras (e.g. farmhouse sink, multiple walk-in closets), it is likely to be a great choice. To ensure you make the best decision for your needs, consult with your real estate advisor to review and refine your list and provide guidance on how to stay within it while still finding a suitable home in your area.