Want to buy a home in 2024? Here are 3 things to work on NOW to prepare.

2023 was a funky year for real estate.  Inventory grew with decreased demand from high mortgage rates, but home prices continued to grow because we were in such a housing inventory deficit following the record low mortgage rates during the pandemic recovery.  Mortgage rates are predicted to get back down to the 5% range by the end of 2024, but we are warning buyers, don't wait too long because there has been many buyers also waiting for rates to decrease and you'll want to avoid bidding wars.  So how can you start getting yourself ready?  Take these 3 steps today and you'll be well on your way:

First - Determine what you want to buy, where you want to buy, and when you want to buy.  A real estate professional can help talk through your options.  Different communities offer different amenities, nearby conveniences, and other things you may not know about - talking to a local professional can help you understand your options.   Below we will discuss hiring a real estate professional.

Second - Get your finances in order.  1 -Start saving for your down payment, closing costs, inspection, and appraisal.  2 - You'll also want to improve your debt-to-income ratio and increase your credit score to get the best possible rate. 3 - Set a budget for yourself, understand where you will feel comfortable for a monthly payment - and don't forget to consider the unexpected expenses of being a homeowner.  Below we will discuss hiring a mortgage lender to best advise you on these items.

Third - Hire a trusted real estate agent & mortgage lender.

Alison Connors - RE/MAX Action First has helped over 500 clients buy and sell in Tampa Bay and knows the Tampa Bay market like the back of her hand.  We have strategies to help our clients get the best possible deal and processes in place to make it simpler for our clients.  Your Realtor should be able to help guide you through understanding what types of homes are available, good locations in your market, and have reliable resources available.  Give Alison Connors a call today 813-758-3063.

 Hire a mortgage lender.  We have an in-house mortgage lender, Alex Connors - that an help you get your financing in order.  It is important to run a credit application to understand your credit score & Debt to Income.  A mortgage lender will advise if there is anything that can be done to improve both so you can get a better mortgage interest rate if you contact them with enough time prior to purchasing.  Your lender can help talk through different options based on your budget and help you understand how much down payment will be needed. They also can discuss down paymnet assistance options if you qualify.  Give Alex Connors a call today 813-734-2206.

We are here to help with all your real estate needs in Tampa Bay - if you are outside of our area, we have a large referral network which we would love to put you in contact with someone we trust.  Buying a home is an exciting time in life - we'd love to help you through the process.

Alison Connors - RE/MAX Action First 813-758-3063