If you are looking to buy a home, it can be tricky in a seller’s market. With home prices continuing to reach new highs and mortgage interest rates remaining low, it is a challenging time to be in the market for a new home. What if you had a couple tips that could help you and your offer stand out out from the others when it came time to put in offer in? Whether you’re looking for leverage with a buyer or seller, or trying to make yourself stand out in a crowd, knowing your compitition can be a huge advantage.
In a recent article from Realtor.com, they state that “First-time buyers aren’t getting any younger either, and they make up about a third of those scouring the market for a home. Their median age rose to 33, one year more than in 2018. The report is based on a survey of nearly 6,000 buyers who purchased primary residences between July 2018 and July 2019.
“Traditionally, the first-time buyer age has ranged between 28 and 32,” says Jessica Lautz, NAR’s vice president of research. “While 33 doesn’t seem like a huge jump, it does indicate that homes are more expensive and it takes a longer time to find a home and save for a home.”
Meanwhile, repeat buyers were a median 55, holding steady from the previous year.”
Here are three tips to help you beat the home buying market: