The housing market, facing a huge turmoil period in the years following the recession of 2008, is finally picking up steam as more and more people around the nation are taking the steps towards buying new houses. The housing market in the United States hasn’t always been the smoothest or consistent, but much to the joy of potential homebuyers throughout the nation, the housing market is on its way for a speedy recovery. House
After the 2008 recession, many people shied away from buying houses due to the numerous bankruptcies and layoffs. After that hard time, came a steady recovery period. Now, as 2014 rolls in, the housing market looks stronger and reliable as ever. Basically as the economy mended itself, so did the housing market, bringing it close to its initial glory. While the housing market is not picture perfect quite yet, the momentum is remarkable and could bring a very successful 2014 for those looking to invest in a new house or move into a new house.
So, the time is right…Now What?
Allegedly, those looking to buy a house should really make use of the bustling market before another economic downturn hits. For prospective buyers, the time has never been better, for a couple of reasons. First, the market has really stabilized itself with more transactions occurring in the field. Secondly, mortgage rates and loans are also holding up their end of the bargain. With all these remarkable advantages to buying a house now, as the time is right, prospective buyers should heavily consider looking into the many merits of buying the house they had put on hold during the downturn of the housing market.
Making Smart House Purchases
As with any big purchase, a couple precautions and checkups are necessary, no matter how desperate you are to become the owner of a new house. As you dive into 2014 looking for a new house and trying to find the best housing situations for yourself, deeply consider the following suggestions so that your timely purchase is also a sensible and successful one.
Think Fast, Act Smart – Sometimes, when you just know, there is no point in deliberating in making the big move. If you have been in the market for a while, and done your proper research, chances are if an opportunity presents itself, you should just reach out and take it. Make sure that you have done your research though, because there is nothing worse in jumping into a big life-binding decision with inadequate research. If you have been looking around and you find a nice house, think fast and act quick and make use of the timely boon.
Sleep on it – This next tip contradicts just a bit with the previous one. Sometimes, it is also a good idea to wait a week or so and really think it through. If you are getting a good deal, but not totally sold, it is best to sleep on it and wait to make sure that this is a good idea. When buying a house, you should make total sure that you are ready for the big change it will bring. Usually the house buy and sell process can take up to a total of 3 months from end to end, so don’t feel rushed into making a impulsive decision.
Don’t Over-do it – Hypothetical situation: If the list price for the house is $500,000, make sure you are not bidding over $520,000 for the house. Stay out of the dilemmas of bidding wars because they are very demanding and often may no be worth it. You will end up paying a lot more for the house than you initially had the budget for. Stay on the safe side and don’t over bid for the house. Oftentimes, it is not totally worth it to keep increasing your bid.
No Compromise with Priorities – When you are buying a house, there are certain things that you want to make sure of as you look for your dream house. Some of these factors could be a good school, proximity to a major highway, safe neighborhood, or other personal factors. Make sure you are not settling for anything, which doesn’t totally fulfill all your needs. It is imperative to make sure that all your basic necessities are being met so that in the long term you are not compromising. Make a list of everything you need and work really hard to fulfill all the items on it.
Build Relationships with the Seller – You may be surprised at how much getting to know the people on the other end can help. Talking to the sellers will give you better insight as to what it is you are getting into. Building a relationship can also guide you (or warn you) of the decision. If you have any qualms or hesitations, it is also a good idea to check with the seller and talk to them. If you would like to wait a week before finalizing something, talk to them so they understand where you are coming from and are able to reserve your bid amongst all their others.
Ask your Friends – As you go to look for houses, as a couple of your closest friends and family to accompany you. Having a second eye or opinion can rarely be useful and helpful. Ask your friends on their thoughts on the house and really take into consideration any reluctance they may have.
Remember, 2014 could be a great year for that housing purchase you have wanted to make. Make use of the signs and begin looking around for a house that you could see yourself and your family in. Using the tips above and help from family and friends, use this opportunity to make the fulfilling and rewarding venture.
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