The number of active listings in Washington has fallen over the last year by three percent. With fewer listings, your chances of facing having multiple offers increases. For first time buyers, there are many strategies to employ to make their offer more attractive. A buyer can consider sharing their equity, or bringing in co-buyers in order to come to the table with a larger down payment. Shopping at a different price point (higher or lower) can help as well. Also, buying a larger home or duplex allows for rental income to improve your monthly finances.
Key Takeaways:
- There are a lot of people who are struggling to get the money for their first home.
- Buying a home is usually more financially responsible than renting for long periods of time.
- Understanding how to create a budget for your family and living expenses is crucial when planning to buy a home.
“If you’re hoping to buy a home this fall, you may need to get a little creative — particularly if you’re on a tight budget.”