by Greg Kiep
on Monday, February 10th, 2020 at 2:53pm.
The Groundhog did not see his shadow so that means spring is, hopefully, right around the corner! With warmer weather tends to come more buyers in the market looking to purchase in the new year. Nick gives tips for finding your first home as well as some thoughts on how the market will evolve in the first part of 2020.
For those looking to make their first home purchase, what 3 tips would you give them?
Be Patient - Right now we are at the lowest inventory levels I have ever seen in my career. This means that you won’t have an abundance of listings to choose from in most neighborhoods. We are hoping to see this change when the Spring market starts so just be patient and you will eventually find something you love!
Don’t be afraid to pull the trigger - While being patient is important, you have to be ready to pull the trigger when you finally do find something you love. Make sure you are pre-approved and prepared to put in a strong offer when the time comes.
Expand your search - If you aren’t finding what you are looking for, consider expanding into other neighborhoods or towns. Many buyers don’t realize they can get what they want if they just go five minutes down the road. Ask your agent what other locations might be a good fit for your needs and have them start sending you listings.
What resources does BHHS Warren Residential offer to first-time buyers in Boston?
Obviously a great buyers agent is probably the most helpful resource when searching for your first home. In addition to that, we have created a great step by step guide to purchasing a home in the Boston area. This guide walks you through each phase of buying a home and helps manage your expectations.
What trends do you see driving the market in the first quarter of this year that may have an impact on these buyers?
As I mentioned earlier, I’ve never seen inventory levels as low as they are right now. One of the reasons we are likely seeing this is because our winter has been so mild that buyers have actively stayed in the market so inventory hasn’t had a chance to build which can make it tough to find what you are looking for. Stay patient though, it will be worth it in the end!