Buying in Seller’s Market – If you’re thinking of selling, Brampton current low inventory and rising prices may make now seem like the ideal time, but if you’re looking to buy, the situation may be different.
It may appear to be a difficult time to buy a home, whether you are buying your first home or looking to upgrade or downsize. Not to worry though, with some creativity and careful planning, there are ways to easily navigate this market with your Realtor®. Here are 5 helpful hints for buyers that buying in seller’s market:
Work with a Realtor®
A seller’s market can be difficult to navigate as a buyer, particularly if you want to go it alone. Working with a Realtor® means that you have a professional on your side to help you manage everything from various deals to ensuring that you have access to all relevant listings as soon as they become available. The best thing is that as a buyer, your Buyer’s Representative expenses are almost always paid by the seller, meaning you won’t have to pay a dime. Your Realtor® will also look out for your best interests and assist you in making an informed and appealing bid on any house.
Be Prepared to Act Quickly
Homes are selling quickly these days, particularly in certain neighbourhoods and price ranges, so you might not have much time before the home of your dreams becomes available. You’ll want to make sure you have financial pre-approvals in place until you start looking, and you’ll want to make sure you’re getting regular updates of new listings that meet your requirements. Also, clear your schedules and be ready to see homes as soon as they reach the market because if you don’t, you might never get the chance. Things can move quickly once you find a home you love, and your Realtor® will be there to make sure you understand it every step of the way.
Consider New Builds
Although resale inventory is poor, builders in the Brampton area are rapidly constructing homes. For certain people, purchasing a new house could be a better option, and your Realtor® will assist you with that as well. The contractor will normally cover your Real estate agent as well! Consider other choices for the period between your homes if you are selling your home now and are unsure about the wait for a new build. You may live with family or rent a short-term apartment. Both of these options can assist you in saving money prior to moving into your new home.
Look at different neighbourhoods
Some neighbourhoods are more competitive than others, so expanding the search will make a big difference. This does not necessarily imply a longer commute or relocating to a different area. Work closely with your Realtor® to evaluate a variety of neighbourhoods and the facilities they have. It doesn’t mean you’re settling for anything you don’t want; rather, it means there are choices you haven’t considered. Brampton has a wide variety of neighbourhoods.
Don’t be discouraged
Buying a home may appear overwhelming or even impossible right now, but this is not the case. Every day, people purchase homes, and with a little forethought and the help of your Realtor, you will find your dream home as well. There could be short-term setbacks, such as losing out on a property in a multiple offer situation, but remain positive and you can succeed.