If you put off your home search over the last couple years, it may be time to pick it back up.

Recent data shows the supply of homes for sale is increasing, giving buyers more to choose from.  Keep in mind though, that while home inventory is better, it remains a seller’s market. Prices are still up, and mortgage rates have changed. Here is some advice if you are again ready to embark on finding your dream home.

Mortgage Rates Impact What You Can Buy 

Mortgage rates have increased this year and continue to fluctuate. You should stay up to date on what’s happening with mortgage rates and know just how they may impact your purchasing options. For instance, if your budget allows for your monthly mortgage payment to be $2000, then make sure that you know what that means for how much you can spend on a house.

Remember, even a small change in mortgage rates can have a big impact on your monthly payments.

Be Open Minded In Your Search

While the supply of homes that are for sale is better than it has been, it is still low. This means as you search for homes, you may not find exactly what you want. Perhaps being more open minded and expanding your search or altering your “must haves” a bit will make all the difference in finding something that meets almost all your needs. For example; Open yourself up to a larger search area, or include other housing types like new construction or even a condo. Finding ways to extend to a wider search could help you find the perfect hidden gem.

Seek Expert Guidance From A Local Realtor

 You should be as prepared as possible when you set out to buy a home. No matter where you are in your new home purchasing journey, the best way to set yourself up for finding your next dream home is to work with a real estate pro that knows the area in which you are searching. A Realtor can help you in your local market and search for homes that meet your criteria. Also, when it’s time to make an offer, they’ll be your expert advisor and negotiator

Conclusion

Carefully planning your home search by understanding today’s real estate market, mortgage rates, and enlisting local real estate experts can be the key to finding your next (or first) home. Make sure you have expert advice and guidance every step of the way, partner with Logical Choice Realty Group. We may not be the only choice in town, but we are the Logical one. Contact us today.