5 Strategies Homebuyers can Control in Today's Market

Bidding wars and record highs may make the current housing market seem daunting. Rising rates and low inventory might leave you feeling powerless as a homebuyer. But don’t worry—there are still ways you can take charge. Here are five things you can control as a buyer in today’s market.

1. Budgeting is Your Superpower

While you can't control interest rates, you can control your budget. Use a mortgage calculator to see how different rates affect your monthly payments. This will help you adjust your price range to find a home that fits your finances.

2. Negotiate Like a Pro

Home price reductions are up 15.5% year over year, giving you an opportunity to negotiate. Look for homes with reduced prices or make offers below the asking price. Use the higher rates to your advantage and ask for concessions like closing cost assistance or an interest rate buydown.

3. New Construction: Your Secret Weapon

Don’t overlook new homes! Builders are often motivated to sell and may offer incentives. You could get a better deal on a brand-new home with warranties, avoiding the need for updates. Plus, negotiating with builders can be easier than with individual sellers.

Note: Be sure to take us in with you for your visits, to ensure you get the best incentives.

4. The Power of Patience

You control the timing of your purchase. If high rates are causing sticker shock, consider renting for a while. Remember, rates will eventually drop. Buying now could give you access to a less competitive market with more options.

5. Choose Your Champion

Your real estate agent is your ally. Find an agent who listens to your needs and respects your criteria. Don’t hesitate to interview multiple agents and walk away from one who isn’t a good fit.

Ready to take control? Contact our team today. We’ll help you navigate the market and achieve your homeownership dreams. 

For more buyer empowerment tips, visit our blog posts or call us. 🌟