By Barb “Matty” Matyszczak • The Cardinal Contributing Writer
If you’re looking to make a move this year, plan for ways to handle the challenge of an ever-changing market. Here are my top 5 suggestions to help you prepare to handle the chaos!
1. Stay Flexible. Given low inventory and high asking prices, it’s essential to stay flexible on price, location, and the kind of property you are looking for. While you may want a single-family home, you may find less competition and better pricing in a townhome community.
Keep your options open and see what fits your needs. Remember that a good school district or drive time to work is often the deciding factor on where you want to live, but both of these factors have been greatly affected by the challenges we all have faced in the past few years, so stay flexible!
2. Save, Save, SAVE! Buying a home can ADD UP! It’s not just about having enough savings to put a large downpayment to compete against other bidders, but also about having enough money saved to deal with the repairs, furnishing, and maintenance of the new home you may choose.
Don’t forget to factor this into your future budget as a new homeowner, and get started with disciplining yourself and your family in building a saving plan that you can stick to.
3. Don’t Blow the Budget. Although you may be diligently saving, it may be tempting to bite off more than you can chew in this hot market. Keep your priorities in focus and build your list of essential features you are looking for in your new home. Search for properties $20k-$50k below your comfort range, as this will help you if you have a bidding war to compete in.
4. Sometimes Less is More. Often, I find that the Sq Ft quoted is not an accurate number and can be very deceiving if you focus on that in your search. It’s not about the size, but about the layout that makes a new home fit your needs. Many home styles in our area change dramatically each decade they were built due to the wants and needs of each generation.
Also, lot size can be an inaccurate focus – larger lots may come with complications like septic systems to maintain, and smaller lots may come with a community walking path that you might find very enjoyable. Keep an open mind and try to look at all the options to get a feel for what you REALLY might want.
5. Stay Calm! Buying a home can be challenging and feel like a full-time job. It’s typically the largest transaction a person can make in their lifetime. And, you don’t do it every day! Take a deep breath and stay calm. The best thing you can do is find an experienced, trusted Realtor you can work with that will guide you every step of the way to help you find your next home!
I hope you find this information helpful and encouraging and don’t be afraid to make 2022 a new beginning! Happy New Year!
Barb “Matty” Matyszczak is a REALTOR/Manager with over 32 yrs experience in the Bucks/Montgomery Real Estate Market. To learn more, visit www.BarbMatty.com, or call her at 215-348-7100, or email at barb@barbmatty.com
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