How to Navigate the Housing Market
It’s that time in your life to start house shopping. Casual, right? No. Houses are expensive. Like a 30 year mortgage expensive. When it’s time to take that step in life, the housing market can be hard to navigate. It’s like your brain is saying, “rerouting…rerouting…” over and over.
We want to help you with this process as best we can. If you’re interested in getting to your destination, keep reading. If not, you might end up hitting a dead end.
As more and more people move to Nashville, the inventory of houses are starting to decline. There are a lot of options for apartments, but in terms of buying a house, the choices are growing slim. Trends have shown some houses are only on the market for one day, an average of 80-1oo people move here a day, and people are looking to invest in properties constantly. The real estate industry is working overtime in Nashville. It’s insane because everyone needs more builders, subcontractors, realtors, developers, lenders, etc.
Since Nashville is experiencing so much growth, this means prices are increasing all around. Shopping for a house can already be a difficult, long process. Tie in a crazy market and it can seem impossible for some.
We have a few tips to help you navigate this process.
- Find a lender
- Find an agent
- Be prepared to sacrifice
Everyone has their dream home and to find that gem within your price point means finding a lender and a real estate agent. The lender will help you find a house truly within your means, and the real estate agent will help find the perfect house in that range. Agents also have a heads up on what houses and properties are hitting the market soon. Typically, people have a list of what they want in their home and they know what things they won’t compromise on. This is where tip #3 comes in. Be prepared to let go of some aspects of a house that aren’t deal breakers. In the long run, you’ll be glad you bought the house that met your immediate needs and desires than the extra perks you were wanting.
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