If you’re thinking about buying your first home in 2022, here’s my word of advice. Before anything else, think through these three things: your lender, your budget and your must-haves

YOUR LENDER: Having a LOCAL reputable lender is crucial in this market. Sellers want to know you are well qualified to purchase the home without any hiccups or delays. Your lender will go over your financial position with you, help you set your down payment, closing cost expectation and your budget. 

YOUR BUDGET:  After you have met with your lender, you will be able to set a realistic budge. You will be able to determine the price range you feel comfortable with spending on a new home. During 2021 and now in 2022, we are asking buyers to look at home $25k to $50k UNDER their top number to allow room for offering over the asking price. This may be a shock to first time home buyers, but the Portland market has very low inventory and homes that are highly sought after will go for over asking.

YOUR MUST HAVES: Keep this list small! Do you need to stay in a certain school district? Need a yard for your dog? Write out the things you must have in a home and share these with your realtor upfront. Avoid adding things like paint, flooring, appliances.

Buying a home is one of the best things you can do this year for your financial health. Reach out if you have questions or would like to talk more. I’m here to help!