The first 4 months of this year has been a constant reminder of the effort it takes for people who want to buy their first home in our crazy market. Buying a home is a full contact sport, no flag football here. An Australian friend from church calls our football a “sissy sport” as our players wear helmets and pads. In fact it takes the heart and soul of a rugby player to get under contract sometimes.
Buyers must be TENACIOUS! Searching for a home and getting under contract on a home is a part-time job that you must be dedicated to. When a new home comes on the market you need to go see it that day. You will probably need to expand your search area. You may need to raise your price point. You will probably have to look at homes that have been on the market for a couple of weeks. You might have to lower your standards or requirements a little bit. You have to be willing to pay $10k, $20k or more over list price. Appraisal guarantees may become your best friend. A Post-Closing Occupancy Agreement with FREE rental for the seller may be your ticket to homeownership.
Buying your first home is not easy today; but I know it will be worth it in the long run as real estate has created more millionaires than any other asset.