Help for the First-Time Buyer a Seller’s Market
First time home buyers have had a particularly hard time buying homes in the last two years due to the strong seller’s market. It can be more difficult for sure, but don’t give up!
Considering different housing options and locations, being prepared (bank/mortgage) and being decisive will help you be successful. I believe that even though we continue to be in a seller’s market, there are now more opportunities for buyers.
Yes, depending on the neighbourhood, many homes have been going well over asking. If you know your pricing, with your realtor’s help, you will recognize when a home is well below market. Maybe don’t even visit a home that you most likely can’t afford. Wait until it has been on the market for a few weeks, then come forward. As a buyer, there is no point in being the third best offer. You are just helping the prices go higher. Why would you want to help drive up the price in the neighbourhood where you want to buy and live?
Depending on your motivation and specific goals for home or investment property ownership, we can tailor an approach to help ensure your success as a first-time buyer.
Let me know your questions. Contact Dan@OttawaUrbanRealty.com