MINT HILL, NC – Did you know that the median home price in the United States is close to $375K? This is an increase of about 10% since last year and it’s certainly scaring some buyers out of entering the market.
While this number might seem scary, it really shouldn’t matter. If you want to start shopping for Mint Hill, NC real estate, you really just need to know how much home you can afford. Averages mean very little when you want to buy a home.
Sure, you might see the median home price, and a little fear sets in. However, you only need one home you like in your price range to become a homeowner. As long as you can find a home you can afford and you like, that median home price means very little.
Know Your Number Before Starting the Hunt
The best thing buyers can do right now is know their numbers. Get pre-approved by a lender and know what you can afford. Of course, you have to look at your own budget and not what the lender approves you for.
You might have a lender that is willing to give you $300K for your mortgage, but the payment doesn’t fit your monthly budget very well. Know what you can afford and shop in that range. It makes very little sense to look at homes selling for $300K if you are only able to afford a home for $250K.
Sit Down with a Real Estate Agent
It’s best to take your number to a real estate agent to find out what you can get for what you can afford. This is one of the best ways to find out if you should start searching for a home for sale in Mint Hill or wait. A real estate agent can show you a few home listings in your price range and give you an idea of what to expect.
Understand the Current Real Estate Market
The real estate market is rather insane right now. It’s still very hot and homes are selling for above the asking price often. This means you have to know the current market and what to expect.
If you know you can afford a home in the $350K price range, you might want to shop a little lower than that price range. This will give you some buffer room if you end up in a bidding war. With so many offers coming in above the list price, you will want to take your real estate agent’s advice on this one.
There are still homes that can be purchased in most price ranges, but they can be few and far between. Buyers are having a hard go of it with the very hot market right now. Working with an expert real estate agent can help make your dream of homeownership come true.
I would love to be part of your journey when the time is right for you. If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. I will help you make the right move! Anna Granger (704) 650-5707 | firstname.lastname@example.org | www.1stchoicepropertiesinc.com