Exceed Your Homeownership Goals By Doing These 3 Things

2024 seems to be a bounce back year in Real Estate. If you’re working hard to put yourself in a position to buy, move down or move up, I highly recommend you dig into and understand the housing market in your neighborhood. Know your “Why” and lean on someone like myself to bring your vision for the new year into clear focus.

Certainly last year, the state and fluctuation of the economy had an oversized impact on the housing market (as it always does) as well as our spending and saving habits. That’s why having a handle on the market today and how to leverage it toward the sale or purchase of your home is really important. As Danielle Hale, Chief Economist for Realtor.com puts it quite clearly

“The key to making a good decision in this challenging housing market is to be laser focused on what you need now and the years ahead, so that you can stay in your new home long enough that buying is a sound financial decision.”

So, what will help you define your next steps in 2024? Here are some suggestions:

1. Know Your “Why”

Regardless of the chatter around you, the dream of making a move is strong. What is the move? No matter what the interest rate is, there are always very compelling reasons to buy or sell. Your needs today and in the future may have changed in a way that your current home just can live up to expectations. Or you could be ready to step into homeownership for the first time.Use your motivation as a guide to make sure your move provides a lasting sense of accomplishment.

2. Decide if Now is the Time to Buy

Knowing your budget and the amount you’ll need to put down is critical before you dive into the process. There are key milestones in addition to building a down payment. Things such as getting pre-approved, having a clear idea of additional costs that will come into play during the transaction, and if you need to sell your property in order to purchase, assessing your current home equity if you’re selling your existing home.

3. Have a Clear Idea of What Your First/Next Home Needs to Look Like

Most of us start thinking about our dream home months if not years before actually purchasing. Knowing you want to move in important, but being able to envision your first/next home is just as important. With the number of homes coming on the market in 2024, you should definitely have more options as a buyer. But keep in mind, the overall supply of homes is still lower than in normal years (6 months of inventory).

Familiarize Yourself with Every Step in the Process

The steps needed to get you into your dream home changes on a daily basis – especially in Long Beach. Don’t let uncertainty hold you back from exceeding your goals this year. Let’s connect to plan to make your real estate dreams a reality!