There are thousands of variables to consider whether you’re looking to buy a home
or sell your existing property.
From personal or family variables, market outlook, and financing options, the list could never end.
It can be stressful!
But whether you’re hard charging through the process already or just toeing the waters a bit, consider these variables as you go through the process of buying or selling a property
2018 Market Forecast?
- It is expected that high rents are going to be have to be dealt with for another year.
- There are some expectations that interest rates will rise.
- The prices of houses are still expected to increase in mid level housing.
While this may seem like a dismal forecast if you’re looking to buy a house this year, with the proper approach and preparation it could prove to be a successful home
Get Creative With Location
Be flexible when it comes to up and coming neighborhoods or longer commuting times. Suburbs can offer great amenities whether you’re a growing family, newlywed couple, or single professional. Areas surrounding the trendy neighborhoods can also keep you close to your favorite amenities without breaking the bank.
Downsize As A Compromise
If staying in a specific city is a priority, consider new properties
using popular space saving strategies. Some builders have found a niche creating smaller dwellings within their normal apartment construction projects. What they lack in square footage, they make up with space saving appliances, storage, and the ever popular Murphy bed. The price can be right and after a month or two of adjustment, you’ll feel right at home.
This approach can be taken with buying a new home
as well. Be candid with how you can downsize your belongings and improve the use of space and you’ll be rewarded in the long run.
Federal & Local Government Impact
With President Trump’s tax reforms successfully passing the House & Senate, take-home pay is projected to increase for multiple tax brackets. The size of this increase will vary based on location and personal/family variables, but it could provide you with enough to open up buying or selling
Also, don’t forget to consider local property taxes
. These fluctuate dramatically from city to city, so remain flexible with location to ensure the tax man doesn’t kill your budget.
What's Available to You?
New home buyers, veterans, and special assistance programs can be a fantastic tool. Don't just assume you don't qualify based on down payment or credit ratings. You’ll be kicking yourself if you miss out on the savings!
There are plenty of success stories
surrounding those who have bought a home in similar conditions. Here are a few examples;
- For one homebuyer who thought that the dream of being a homeowner was going to elude her taking the next step to see what assistance was available to her paid off.
- Then for another individual choosing the right company to apply to for a mortgage allowed them to enjoy the experience of buying a home.
- Not allowing a sudden change in circumstance such as a sudden illness to stand in their way, another new home purchaser was able to find a solution to their home buying needs.
The trend of the 2018 housing market is no doubt going to put more pressure on the potential home buyer to be more innovative and pro-active in finding their own individual home buying solutions, but the opportunity to do is definitely there.
For home sellers they can continue to ride the wave of it being a seller's market for perhaps another year, but don’t stay tuned out for too long. The market could change at a moments notice and you don’t want to get caught sleeping.
Like this article? Please feel free to share or post a link on your site: https://www.landhub.com/blog/buying-selling-house-2018-consider-variables-first/