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Tips for Buying a Home in 2021
The current competitive housing market is predicted to continue heading into 2021 changing the rules for new home buyers. Low mortgage rates and remote work are becoming the new norm. Many are choosing to reconsider their living styles and purchase their homes. Because home prices have increased by 13% and inventory is so low, home buyers are faced with new challenges.
1. Start looking online
While we have evolved this year in the way we communicate with one another, technology is a useful tool to get started in your search. “For instance, virtual tools such as 3D home tours provide a better sense of how property flows than just photos can.” Since traditional walkthroughs have halted this last year, virtual tours help provide new home buyers with a chance to still actively view the home. Talk with a mortgage broker about your current finances to help you along the process of picking the best deal for you. Don’t be tempted by the low-interest rates as you may be overpaying or be faced with other charges that you didn’t expect.
2. Set Realistic expectations
Because home buyers are having to face more challenges than usual, the process can take longer. Marc J. Jenkins, a real estate agent with Prime Property Partners in Atlanta, says “The first thing that I hope people understand is…