When Buying a New Home, Be Sure to Know the Market

Are you thinking about buying a new home for the first time? Perhaps you recently got a job promotion that requires you to move. Or maybe you’re starting a family and it’s time to get a bigger place in which to live. Whatever the case, there are some general real estate tips for buyers that you should keep in mind.

Chief among them is the idea that when finding a new home, you should be very aware of the latest changes in the real estate market. Otherwise, you may not be able to find the best home listings to match your particular needs, which can make it that much more difficult to purchase the right house.

For example, though the American housing market has risen by six percent within the last year, it is becoming more advantageous for those wishing to sell their homes than for those wanting to buy. With this in mind, it makes sense to make a decision quickly so that finding a home does not become a long and protracted struggle.

More specifically, you should also have a good handle on the regional market in which you are searching, For instance, if you’re in Virginia, you’ll likely want to keep in mind that houses are in short supply. There are 33% less home listings than there were in August of the previous year. Along with that, Fairfax, Virginia’s typical cost of monthly rent has risen by 5.72%.

If you have further questions, comments, or real estate tips for buyers, be sure to share them in the section below. Read more about this topic at this link: www.cb-pro.com