Did you plan to buy a home in 2021? Has the uncertainty of the previous year put you off? Well, it shouldn’t have, and if you were planning to buy in California, now is a great time to do it.
While there have been some changes, the market is still alive and ready for buyers. Below, we give a must-read guide on buying a home in California.
Table of Contents
What Is New in 2021?
The previous year was a great upheaval and time of change, not least in the housing industry. While many people lost work and economies crumbled, for many people it was a time of great saving. Holidays were canceled, people stayed home, and people could bank money quicker.
This has meant that a lot of buyers are now on the market, sometimes outnumbering homes. This means that it is a seller’s market. The person selling a property has the upper hand, as they have more offers coming in.
For the buyer, this means you may have to be more flexible. You may have to make some concessions and move fast to secure good quality properties.
Prices are set to increase in the coming year. However, they are predicted to rise much more slowly than in 2020.
Buying a Home in California at the Right Time
In California, rates and market trends can vary vastly from month to month, so picking the right time to start can be tricky. Generally, the best time to buy a home in California is earlier in the year. From April to June, more homes tend to be listed than at other times.
If you are in a chain, this can be a blessing and a curse. While you have more choice, it may make your home harder to sell than in times like winter, when fewer are on the market. Essentially, there is never the best time, it just comes down to what fits your needs.
How to Get the Best Deal
The best way to get a great deal is to hire an experienced realtor local to the area. They will know the best times to buy and will have a much better grasp of the market than you. They will also have first-hand information of properties coming on the market, which is essential if you are buying at a time when fewer properties are available.
You can also make the whole process faster by doing your research on loans beforehand. If you discuss a mortgage with a few lenders and work out which deal suits you best, you can go straight to that bank as soon as you find a property and secure funding.
Know Your Needs
One final tip when buying a home in California is to know your needs. There is a vast and wide range of properties, in various districts, towns, and suburbs. Knowing what you want beforehand will help cut down time spent looking around and shopping, so you can be in your ideal home quicker.
If you enjoyed our handy blog, then visit the rest of our articles. We have help on everything from managing finance to buying a property. Visit us today, and let us help you settle into your dream home in the coming year!