Buying a home is an exciting time! However, the current housing market leads to many questions about buying in a predominantly seller’s market. At Southern Homes Collective, we understand your hesitations and want to answer your commonly asked questions when it comes to buying a home in 2022. The opportunities in this market are endless, so let’s discover the ins and outs of home buying in 2022.
- What does inventory look like for buyers in 2022?
The housing market is hot right now, with houses selling as soon as the same day they’re put on the market. Recently, we are seeing a slow increase in homes on the market, which may slow the market down for buyers. From February 2022 to March 2022, there’s been a 5% increase in homes on the market.
- How can I improve my chances of finding a home in this market?
If you’re thinking of buying a home in the Nashville area, you’ll need to be prepared to compete with other buyers. We recommend you work with a knowledgeable, local real estate agent to give you an advantage amongst the sea of other potential buyers. A local real estate agent can help you find homes that fit your budget and requirements, as well as negotiate a fair price with the seller.
- How many houses should I look at?
It all depends on the neighborhood, market conditions, and competition. We recommend not becoming fixated on one home in particular as that may lead to disappointment or poor financial decisions. Typically, buyers view between 10-15 homes to get a good idea of what’s feasible based on your budget and location, but it’s normal for this number to be less in today’s market.
- How many times should I see the house before making an offer?
Most buyers want to see a property multiple times before making an offer, but sometimes offers are made just after one showing. There are some things to consider before determining how many showings you should have before making an offer.
Your Agent’s Opinion
Your real estate agent is a great resource when it comes to submitting an offer. They will have a good sense of whether or not a property is worth submitting an offer after just one showing.
Your Gut Feeling
If you walk into a home and immediately know it’s the one for you, it could be worth it to submit an offer after just one showing. Make sure your showing is thorough, checking for any major repairs or renovations you’ll need to make.
Competition and Market Conditions
Sometimes if there are multiple buyers interested in the same property, submitting an offer quickly can help you beat the competition. Similarly, if the homes are selling fast in the market, you may not have the luxury of seeing a property more than once. Seek a real estate agent’s advice to ensure your offer is timed perfectly and for a fair price.
- What resources are there available to buyers?
There is a multitude of opportunities for buyers in the current real estate market. As a result, it can be difficult to know where to begin when buying a home in this market. Your biggest resource as a buyer is your real estate agent. From choosing the right property to securing financing, an expert real estate team can help you through the entire process. Check out our blogs for assistance with navigating the current market and making informed buying decisions.
Navigate the Market with Southern Homes Collective
Buying a home in today’s market can be overwhelming and our expert team wants to help you. From the home search to closing, we are ready to help you through every step of the process. With our years of experience and local knowledge, our real estate agents will help you find the home of your dreams!
Begin the home search today!
Our team at Southern Homes collective is proudly serving the communities of Brentwood, Franklin, Fairview, and Thompson’s Station. Reach out to us today to begin the journey of finding your dream home! Call us at 615-648-4880 or contact us online today!