Your down payment is losing value sitting in your bank account, and house prices aren't coming down.
This week I showed the same 2 homes to 2 different buyers. In this super low inventory market, I sometimes show the same house 3 times.
The 2 houses in question both need a ton of work. Some of it structural.
My buyers aren't going for it. But others are lining up to offer on them.
If you're a first time buyer, you need to look at your first home for what it is.
An investment.
It's no longer about what might be 'nice to have' or 'must have' features. It's about figuring out how this home can serve you for the next few years.
- How can you squeeze every drop of equity out of it?
- What's it's potential resale value?
- How can you leverage your skills, time and spare cash to draw out its full potential?
- Can you sell when the market is up and land safely somewhere else?
- Are you ok with feeling uncomfortable about your purchase price for a few months?
If you're a move-up buyer looking for a larger home, you need to explore every option...and then DO something.
- Do you need to sell your current home to buy the next one?
- Can you leverage enough equity to move up to a home that will serve you and your family for years to come?
- Would a new build offer the home you need with fewer headaches, despite the higher cost?
- Have you maxxed out every opportunity to create space in your current home, and still coming up short?
- Are you ok with feeling uncomfortable about your purchase price for a few months?
Right now you're racing against inflation.
Let's get to work.