Take Control of Your Homebuying Journey: Make a Plan

Take Control of Your Homebuying Journey

Last year was one of the most challenging for homebuyers in decades. Reports show it’s the worst market in 30 years, with difficulties at every price point, from entry-level homes to luxury properties. Even securing a rental has become a struggle.

Make a Plan

The key to success in this competitive market is preparation. Here are the main elements of a strong offer:

• Purchase Price: Be realistic and competitive.

• Earnest Money: A higher deposit shows higher commitment level.

• Financing: Cash offers or strong financing terms stand out.

• Closing Date: Flexibility can work in your favor.

• Closing Costs: Covering more can make your offer appealing.

Small adjustments to your offer can make a big difference depending on the seller’s situation.

Why You Need a Plan

The housing market is expected to see slow, steady price increases in the coming months and years. That means the sooner you start planning, the better prepared you’ll be. For some, this might involve meeting with a real estate professional to map out a clear strategy for buying a home now. For others, it could mean creating a long-term financial plan to prepare for a purchase 12–24 months down the line.

For instance, if your current budget doesn’t align with today’s market, you might need to:

• Save More Money: Determine how much you need to save monthly to reach your down payment goal.

• Repair Your Credit: Work on improving your credit score to qualify for better financing options.

• Evaluate Family Needs: Consider the timing and type of home that best fits your family’s needs.

By taking these steps early, you’ll be in a stronger position when it’s time to make a move.

Final Thoughts

The market is tough, but with a solid plan and expert guidance, you can secure the home your family needs. Work with a qualified agent to help you take control of your buying journey whether it's now, or two years from now. It's never too early to make a plan.