Stay within budget.
It's important to know how much house you an afford when buying. If you plan to purchase, go forward with getting pre approved with financing if you decide to go that route. With homes selling at higher prices, it is tempting to bite off more than you can chew. A good rule of thumb is your house payment should not be more than one fourth of your take home pay. Of course, you should always check with a financial professional before making any of these decisions.
More equity in your current home.
The good news about higher home prices is you'll get more equity if you are planning to sell your current home before upgrading. In fact, it is possible your current home will sell in a matter of days, so be ready. Make sure you prepare well ahead of time before putting it on the market.
Don't go it alone.
Whether buying or selling or both, we highly recommend working with a trusted real estate agent to walk with you on this journey. There are several reasons why, but the biggest one is timing. They can help you time to get the most out of a deal as well as avoiding the gap that can happen when someone sells a home but has not placed a contract on a new one.
The biggest piece of advice is don't get in a hurry. The last thing you want to do is make a mistake with what is likely the biggest purchase you may ever make.
If you have any questions, we are here to help. Contact us at any time!