In Today’s Housing Market: Offering a Price Might Not Be Enough

In Today’s Housing Market: Offering a Price Might Not Be Enough

The world of real estate has significantly changed over the past years. Not only is there a huge difference between the supply and demand for housing, but the market rates and pricing ranges have also become complicated.


This is why if you’re looking for a new house, offering a price to your seller might not be enough. You have to weigh various factors just to get the perfect deal for you.


What has changed in the housing market?


Because of the huge demand for housing, it’s now common that a property will be sold in just 2 weeks after being placed on the market. According to the National Association of Realtors, an average house receives at least seven competitive offers before closing a deal. 


These statistics dramatically affect the selling price of houses. Because there is a huge demand, owners and agents can sell their properties at a significantly higher price and it would still be considered by their buyers.


How can you get a dream house?


Luckily, it’s still possible to get your dream house despite these drastic changes in the housing market. Here are some tips on how you can score the best deal for your new house:


Set a budget for your agent


It’s best to tell your agent your price range. This way, you won’t be bombarded by options that are way beyond your budget. It will also help your realtor to narrow down the options for you. Thus, saving time and effort. 


Large down payment


Bringing in a large down payment is your best card in getting the house of your dreams. Not only will this make you a few steps ahead of your competitors, but it will also allow you to immediately get a mortgage deal. 


Homeowners prefer getting a good lump sum, too! Most owners will reserve their properties if they’re sure that you can give them a large down payment. 

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