Buyers got on a roller coaster in January 2022 and stayed strapped in for the real estate market loops throughout the year.
Mortgage rates were low, then soared to a 20-year high of 7.08% before dipping again. Median national list prices rose to a historic $450,000, and then they, too, began to fall. Homes in July were snatched up in 34 days—and come November, they lingered on the market for 56 days.
With so much going on, it’s little wonder that you might have missed some of the advice we gathered in the past year. And what does it all mean if you’re looking to buy a home in the new year?
Luckily there’s no need for you to wear out your search bar looking for our past articles. Instead, we sifted through the hundreds of articles in our recent archives to find the top insider tips and best strategies on homebuying for you.
Here’s seven of our most popular advice pieces of 2022, and a takeaway, must-know tip we want to pass on as you head into 2023. So, Happy New Year! (And happy home hunting.)
6 First-Time Homebuyer Hopes and Dreams That Are Completely Delusional Today
Buying a property is a thrilling prospect—a “dream home” will finally be yours!
Well, here’s the thing: While making an offer and closing on a property should make you downright exuberant, the process of getting there generally involves a few tough truths. First, you may have to give up on the concept of a dream home altogether as most houses out there come with slight—but fixable—imperfections.
Another reality check? Don’t assume a seller will fix every single needed repair found during an inspection. You may have to do some yourself before you move in.
Can’t-miss tip: Many homebuyers pass over the importance of getting pre-approved for a mortgage before starting a house hunt. Yet knowing how much house you can afford is a critical guidepost for every home search.
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source:realtor.com
