Let’s be honest: the real estate industry has its own set of lingo. For a lot of us, especially first-time buyers, it can be difficult to determine what all these terms mean and then how to act accordingly. Luckily, though, we’re here to do the decoding so that you don’t have to.
Today, we’re tackling the terms “buyer’s market” and “seller’s market” and helping you understand the differences, how it affects your chances of becoming a homeowner, and what you can expect from each type of market.
At times, home buyers may find that they are not the only party interested in purchasing a property. This situation of competing offers, calls for buyers to be more prepared and better educated on the process.
Buying a home is an exciting time. The more informed you are before you buy, the better things will be in the long run. It is important that you see past the design and decor and learn to look at the “bones” of the home. Understanding how well a home was built and maintained, can really reduce expensive repairs in the future.