With buyers cautiously re-entering the real estate market this spring, affordability continues to be a top concern for many prospective homeowners. However, buyers are not losing hope. They are adopting innovative strategies to navigate the current market conditions and make their homeownership dreams a reality.
In this article, we will explore the top five strategies buyers are employing to afford a home this spring.
- Buyers are capitalizing on favorable interest rates, with a downward movement since fall 2022.
- Negotiating mortgage rate buydowns from sellers is a popular strategy among buyers.
- Buyers are open to moving longer distances to find more affordable housing options.
- Embracing smaller homes allows buyers to achieve affordability and save on maintenance costs.
- Utilizing down payment assistance programs helps bridge the gap for buyers.
- Considering older or fixer-upper homes presents an opportunity for affordability and personalization.
If you're ready to make your move in the real estate market, connect with the Brendan King Group. Our team is here to provide expert guidance and support for all your real estate needs. Contact us today to get started on your journey towards homeownership.