Buying a home is something over 5 million Americans do annually. If you are in the market for a new home, you need to plot out this buying process. Not only will you need to find a good deal on a new residence, but you also need to stay informed regarding current real estate trends as well.
After you find the right home and purchase it, moving quickly will be easy with the help of a professional moving company. Before you can get to this stage of the home-buying process, you need to find out more about the modern real estate market.
Here are some of the real estate trends all home buyers should be aware of.
Home Prices are Rising But Fewer Offers are Being Made
The main thing you need to focus on when trying to buy a home is establishing a budget. The best way to get this important information is by getting pre-approved for a mortgage. Most newcomers to the world of home buying fail to realize that home prices are starting to creep higher. In the last year, home prices have increased by nearly 10 percent.
While home prices are going up, fewer buyers are making offers on them. This means buyers are still in the driver’s seat when it comes to getting a good deal. If a home sits on the market for a few months without any offers, the sellers are more likely to make a deal with a motivated buyer. Taking a look at how long a home has been on the market can help you figure out whether or not you need to make an offer now or wait a while. With the help of a knowledgeable real estate agent, getting this useful information will be easy.
Millennials are Changing the Home Buying Market
In the past, buying a home was a long and time-consuming process. As technology and the tastes of modern consumers have evolved, so have the ways you can search for and purchase a home. Millennials are moving into the home buying market and they are bringing technology with them.
Even if you aren’t considered a Millennial, you can still use the power of the Internet to search for and even make an offer on a home. If you are a Millennial buyer looking for an edge, writing letters to the seller of a home is a good idea. Homes with multiple offers on them can be hard to get. With a letter, you can set yourself apart from the pack and appeal to the seller’s sensibilities.
Consumers Want Larger Homes
Another real estate trend is the growing popularity of larger luxurious homes. Buyers looking for their forever home are willing to shell out big money to get all of the room and amenities they want. If you are in a financial position to buy a luxury home, avoid rushing through this buying process. Allowing an experienced real estate agent to help you narrow down the selection of luxury homes in the area is a great way to avoid getting overwhelmed.
Are You Ready to Move Into Your New Home?
If you have already found your dream home and are ready to move in, the team at GET MOVING is here to help. Contact us now for more information about the moving services we provide.