Homebuyers in Albuquerque have had a difficult time in the past few years. Homebuyers won’t see a true rebound until 2024, according to some experts. Should you wait another two years before purchasing a home in Albuquerque?
Not necessarily. Buying a house this year can still prove successful, but you need to prepare as well as possible for the process.
Here are our best tips on buying a house in 2022.
Build a Strong Team
The current market situation for Albuquerque homebuyers is this: inventory is low, demand is high, and prices are competitive. Thus, it’s crucial to put together a strong homebuying team now.
Choose a realtor with experience. A good realtor, like Sandi Pressley and her team, can help you find unsold properties and get you into the door before the competition heats up. In addition, they can assist you in locating properties that meet your criteria, even when inventory is low.
The next step is to work with a mortgage broker. Due to such competitive pricing, finding a mortgage that fits your needs can be tricky. You will be able to secure financing with reasonable interest rates and payments by working with a mortgage broker.
Know the Location You’re Buying In
Due to the low inventory, many buyers are jumping on opportunities to purchase any home that comes on the market, regardless of where it is located. There is no need to make this risky move.
If you have to, cast a wide net, but be aware of what you’re getting. In what ways are these neighborhoods walkable, and what amenities and attractions are available there? What’s the crime rate and how are the schools?
When you buy a house, you are planning on staying there for a long time. Don’t make a huge investment that comes with unpleasant surprises.
Take the Building Inspection Seriously
We’re seeing a lot of buyers offering over asking on properties that need a ton of work. Not only does this make it harder to secure a mortgage, but it can also lead to costly home insurance premiums and major out-of-pocket costs.
When it comes time to get a building inspection, listen to what the inspector has to say and be honest with yourself about your budget. If the price tag is high and you don’t have a ton of wiggle room on the other side of mortgage payments, don’t buy a property that is riddled with problems.
So in the end, you can absolutely still buy a home in Albuquerque that will fit your needs. Contact us today to see how Sandi and her team can make owning a home in 2022 a reality.
HOT ALBUQUERQUE PROPERTY OF THE WEEK!
917 AVENIDA ESTRELLITA NE, Albuquerque, NM 87110
Nostalgia for the past! Original charm in this 3BDR/2BA mid-century modern style home! ROOF 2021! Refrigerated air, tankless water heater, skylights, updated kitchen, updated windows! Open living/dining room features hardwood floors and a wood fireplace plus a large family room with built-ins! Light, bright & open kitchen. Large utility room with storage cabs. Secondary bath features a walk-in jetted bath! Huge covered patio & open deck for entertaining! Large lot with newly landscaped front yard! Backyard with mature trees, shrubs, and storage shed! Carport/Breeze Way w/storage! Customize your updates to your style! Great location close to Altura Park, UNM, Nob Hill, shopping and restaurants!REQUEST MORE INFORMATION
Nostalgia for the past! Original charm in this 3BDR/2BA mid-century modern style home! ROOF 2021! Refrigerated air, tankless water heater, skylights, updated kitchen, updated windows! Open living/dining room features hardwood floors and a wood fireplace plus a large family room with built-ins! Light, bright & open kitchen. Large utility room with storage cabs. Secondary bath features a walk-in jetted bath! Huge covered patio & open deck for entertaining! Large lot with newly landscaped front yard! Backyard with mature trees, shrubs, and storage shed! Carport/Breeze Way w/storage! Customize your updates to your style! Great location close to Altura Park, UNM, Nob Hill, shopping and restaurants!REQUEST MORE INFORMATION
Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.
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