Housing demand will still outstrip supply
In the short, sometimes fevered run up to the election, each party has made room in their platforms for promises on rebuilding housing supply. Even if they live up to those promises, rebuilding supply will take a loooong time. We’re already five years behind where we are supposed to be - in order to catch up, we’ll likely need at least another five years.
For at least the next little while then, nothing changes in terms of your search. Here are some things you can do to ensure that you are successful in finding your next home;
Get prequalified.
Be absolutely sure you know how much you can borrow, how much you want to spend and what terms you’re borrowing under. On top of a good rate, you want to ensure that your prepayment benefits are the most flexible, so you can pay down the mortgage quickly and on your terms. Ensure that you work with a broker rather than direct with a lender, to ensure you maximise your options.
The broker will work with you and your realtor to ensure that you are successful.
Work with the right realtor.
A great Realtor will position your offer with the seller so that your offer is given careful consideration. A great Realtor will make sure your offer shines! The creation of the right offer package along with some thoughtful discussion can mean the difference between your offer being the winning offer and it being an ‘also ran’. There are some great realtors out there, the trick is to find them.
The current process of making offers in a multiple offer environment can be stressful and frustrating and perhaps disheartening. It is super important to work with the right mortgage broker – realtor team to ensure that you are successful.
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