If your goal is to become a homeowner, upgrade, or downsize in 2020, start researching now.
Things to Consider
Real estate transactions are a big deal. To start planning out your purchase, consider these things:
Once you have an idea of how much you can afford, where you want to be, and the amount of space you need, take a look at the recent sales that match your goals. This will help you figure out if your goals are aligned with the current market. (And keep in mind that last year’s prices will likely be a little higher next year.)
Should you find that your goals aren’t quite within reach in the market, determine the points where you can be flexible. Can you reasonably increase your budget? Most of the time, a mile can make a huge difference in price point? Can you move slightly outside your target neighborhood? Do you need a two-car garage or could a one-car garage space work if there were additional storage space available? Does the home have to be fully renovated or could you move in and customize over the years? These are all things to consider when weighing your wants versus your needs.
Being flexible may not lead to the home you envisioned, but it could lead to finding the perfect space you weren’t even looking for.