If buying or selling a home is part of your dreams for 2023, it\u2019s essential for you to understand today\u2019s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus.<\/p>\n
In the last year, high inflation<\/a> had a big impact on the economy, the housing market, and likely on your wallet too. That\u2019s why it\u2019s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com<\/em>, explains<\/a>: You\u2019re dreaming about making a move for a reason \u2013 what is it? No matter what\u2019s happening in the market, there are still many compelling reasons<\/a> to buy a home today. Your needs may have changed in a way your current house can\u2019t address, or you could be ready to step into homeownership for the first time and have a space that\u2019s truly your own. Use what\u2019s motivating you as a guidepost in partnership with an expert advisor to help make sure your move will give you a lasting sense of accomplishment.<\/p>\n You know you want to move, but how would you describe your dream home? The available supply of homes for sale<\/a> has grown, and that could mean more options to choose from when you buy. Just be sure to keep your budget in mind and work with a trusted real estate professional to balance your wants and needs<\/a>. The better you understand what\u2019s essential and where you can be flexible, the easier it can be to find the home that\u2019s right for you.<\/p>\n Getting clear on your budget and savings<\/a> is essential before you get too far into the process. Working with a local agent and a lender early is the best way to make sure you\u2019re in a good position to buy. This could include planning how much to save for a down payment, getting pre-approved<\/a> for a home loan, and assessing your current home equity<\/a> if your move involves selling your existing house.<\/p>\n
\n\u201cThe key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead<\/strong>, so that you can stay in your home long enough that buying is a sound financial decision.<\/em>\u201d
\nHere are a few questions you can start thinking through as you fine tune your goals for 2023.<\/p>\n1. What\u2019s Motivating You?<\/strong><\/h4>\n
2. What Does Your Next Home Look Like?<\/strong><\/h4>\n
3. How Ready Are You To Buy?<\/strong><\/h4>\n
A Professional Will Guide You Through Every Step of the Process<\/strong><\/h4>\n