Massachusetts home buyers gearing up to buy their first home this year need to know the number one tip to prepare for the 2022 real estate market. It's simple but critical for success.
Preparation. Too many homebuyers fail to do their research, starting their home-buying journey without the necessary knowledge to make wise decisions in an ultra-competitive seller's market. Without reliable information, emotion takes over, leading to poor decision-making. Preparation is key.
The following are five must-read home-buying articles to begin your preparation for home buying in the challenging 2022 Greater Boston area real estate market.
1. Massachusetts Homebuyers Regret Waiting Too Long to Prepare to Buy.
The number one regret of homebuyers surveyed by Zillow for its consumer housing trends report a few years ago was not starting the home-buying process soon enough. In other words, they did not carefully think through and did not plan their home-buying journey before taking the plunge. Read more.
2. Is There a Right Way to Buy a Home in Massachusetts?
Although there are many things homebuyers can do to make intelligent decisions when purchasing a home, as well as several pitfalls to avoid, the journey to homeownership is different for everyone. So many factors will impact your path to owning a home. Read more.
3. Homebuyers Ask, "Will the Real Estate Market Crash in 2022?
A successful home search requires you to understand current market conditions. No one can predict the future, but local data helps home buyers know how they will need to approach their home search. Without question, sellers are in the driver's seat in the Greater Boston area. Read more.
The National Association of Exclusive Buyer Agents encourages home-buying consumers to seek local real estate market data.
4. Pre-offer Home Inspections. What Massachusetts Homebuyers Should Know.
Many homebuyers choose to waive their home inspection to make their offer more competitive in the current highly competitive market. It's risky. While some homebuyers have the resources to pay for expensive repairs, others likely will deplete a large percentage of their savings for a down payment and closing costs when buying a home. A pre-offer home inspection might be the answer to protect yourself. Read more.
5. Is Your Real Estate Buyer Agent 100 Percent Loyal.
If a homebuyer hires an attorney at a law firm to assist in purchasing real estate, another attorney in the same law firm can not represent the homeowner selling the home. The reason is apparent. It is a conflict of interest. On the other hand, the same homebuyer may use a real estate buyer agent who works for the real estate brokerage that represents the seller. Homebuyers should consider their options and decide if the above is an ideal situation for them. Read more.
Bonus Information: Finding a home buyer class taught by an experienced professional is not always easy but worth locating. A workshop offering a thorough overview of the home-buying process is an excellent place to start. Once you know which loan program you're using, you can determine whether you need a specific required homebuyer education class. Not all loan programs mandate a home-buying workshop, so paying for one before speaking with a loan officer could result in wasted money.
Buyers Brokers Only, LLC will host free online Massachusetts first-time homebuyer classes on Monday, March 7, 2022, and Wednesday, March 30, 2022, also providing prospective homebuyers with educational materials and an opportunity to ask questions.
If you cannot attend a home buyer class on the dates above, please contact us anytime with any specific questions.