Having patience and an open mind is critical in the current market if you’re planning on purchasing a home. You may not be able to get exactly what you are seeking and might have to make some sacrifices. The good news is, if you’re a first time home buyer, President Biden is trying to offer a first time tax credit, which could be a game changer for first time buyers. Home buying during 2021 will be even more challenging, with inventory decreasing and home pricing will hit a new high.
If you can wait until later in the year to purchase, inventory should be higher so prices should come down; however, interest rates are likely to climb. If you’re in need now just realize you might have to pay the asking price or more and cut back on your expectations in order to land a home in the near future. Find an experienced agent who can help navigate you through the ever changing real estate market of today.