There is no doubt that we are in a sellers real estate market. With stocks at their lowest, demand rising sharply and prices rising, buy – even just find – a house in today’s market is quite a challenge.

Of course, nothing is impossible. If buying a home is on your radar for 2021, there are still ways to do it. You’ll just need a little forethought and some good old-fashioned creativity, and the American Dream could very well be within reach.

You hope to buy a house in The booming housing market in 2021? These five tips can help you see success.

1. Qualify for the lowest possible mortgage rate

Home prices have increased in recent months and, according to Realtor.com, they will rise another 5.7% this year. Fortunately, record mortgage rates can help offset those price hikes i.e. if you can snag them.

To ensure you get the best possible rate, take the time to improve your credit score first. Pay off debts, settle overdue accounts, and alert the credit bureaus of any errors on your credit report. Saving a larger down payment can also help your case.

2. Get pre-approved before you start your home search

A mortgage pre-approval is non-negotiable in this environment. Not only can this give you a good price range to work with, but it can also inspire sellers to choose your offering.

When faced with multiple offers, the pre-approved ones usually stand out, indicating that a buyer is prepared, ready to buy and a safe bet to get the deal done.

3. Work with an experienced agent

Have a large Real estate agent can give you the edge in a seller’s market. On the one hand, they can speed up the search for you. They can alert you as soon as a suitable property hits the market, they can schedule day visits (or even visit homes for you) and they can even be aware of upcoming listings that are not yet complete. completely public.

With their experience and negotiating skills, agents can also help you submit a more competitive offer when you find your dream home.

4. Consider buying when it’s not a seller’s real estate market.

Most experts predict that things will get easier towards the end of the year, especially when vaccines become more widespread. This will likely encourage more sellers for sale to list their homes, which will increase inventory and dampen price growth.

Here’s how Dannielle Hale, Chief Economist at Realtor.com, explained it recent forecast 2021: “The housing market in 2021 will be much more welcoming to buyers, as an increased number of existing sellers and the acceleration of new construction restore some bargaining power to buyers, especially in the second half of the year.”

Long and short? If you can wait a few months to buy this home, you probably should.

5. Make every effort to impress salespeople

Submitting a great offer is more than just a numbers game. If you really want to stand out, include a letter of offer, and make a personal call to sellers (you can even include a photo). Giving up one or two contingencies can also help, as can a larger down payment or being flexible with your closing date.

The bottom line

It might be a sellers market, but find affordable housing is still possible. If you take the time to prepare your credit and finances, get pre-approved for your mortgage, and hire a great agent, achieving the American Dream can be easier than it looks.