Top Home Buyer Concerns

Posted on Wednesday, September 9th, 2015 at 3:50pm.

Top Home Buyer Concerns

When it comes to buying a home, there are lots of factors buyers need to take into account before taking the leap. National real estate brokerage Redfin recently surveyed 3,500 home buyers across the country to find out what buyers are most concerned about in today’s real estate market. This year, 27% of buyers named affordability as their top concern when thinking about purchasing a new home. Last year’s top concern, competition from other buyers, shifted to the number two spot when 17% of buyers named it as their chief worry. Buyers also shared their worries about the lack of homes on the market and not having enough to afford a down payment on a home.

It’s clear that in today’s market, buyers are concerned with affordability and availability. So what can Austin home buyers do in the face of rising home prices, increased competition, and low home inventory? Our best advice is to work with an agent and lender you trust. An experienced agent will be able to help you find homes within your budget. You can even sign up for listing alerts on our website to be notified when new homes come on the market, putting you a step ahead of the competition. Take a realistic view of your finances and know your budget before beginning your home search. If affordability is a concern, don’t be afraid to look just outside the Austin area for your new home in suburbs like Round Rock, Cedar Park, Leander, Dripping Springs, and Buda. By connecting with a lender early in the buying process, you can determine how much home you can afford. When you’re ready to submit an offer, having a pre-approval letter on hand from your lender will help you stand out from the competition.

For more information about buying a home in Austin, check out our Austin Home Buyer’s Guide. This guide offers a complete overview of the buying process, as well as helpful resources about financing an Austin home, home inspections, and even a contract to close checklist. If you have any questions about Austin real estate, our expert agents have the answers. Contact us today!

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