Real Estate | Getting Information How to Research the Market
Researching the market can seem like an overwhelming experience. If you’ve been watching the housing sector in 2021, you have probably noticed new home listings being snatched up in the blink of an eye.
Demand is strong for new homes, and this trend looks to continue into 2022. The best way to make sure you’re ready to strike when an ideal listing hits the market is to understand your goals and research what’s currently available.
Once you’ve gone through the pre-approval process with your local bank and found a strong agent with a strong reputation for putting people in good homes, it’s time to put together your game plan and start researching.
What to Research
Work with your local real estate agent to evaluate the prices in the area by checking online listings or reviewing your regional newspaper’s advertising section. Look closely at photos of the home and consider the neighborhood.
Ask your agent for as much information as possible about the home and match it against your list of “wants.” If it seems like a good fit, schedule a tour of the home or drive past it yourself to get the lay of the land.
Try not to fall in love with the first home on your list. Just like finding a quote for a home improvement project or a new car, experts recommend visiting three to five homes at least to make sure you understand all of the pros and cons of various properties.
Other Things to Consider
The overall condition and neighborhood of the home should be your top considerations, but don’t forget to think about school districts, amenities and nearby attractions.
If you’re moving to a new town, it’s a good idea to do as much research as possible before landing on a home. Check local tourism websites and schedule appointments with virtual agents to ask about the best parts of town for your needs.
Research is the key to finding a new home and making sure you have realistic expectations of what you can afford on the open market.