buy a new house

Are you planning to buy a new house in 2024? You must stay on top of the rapidly changing market. Housing prices are fluctuating and are currently higher than normal. Mortgage rates are high as well. You’re going to need to be savvy to get a good price for the home you want while getting a mortgage at the rate you want.

Here are a few home-buying tips that might make the process a little easier.

Four Critical Home Buying Tips in 2024

1. Look into new construction

In years past, the recommendation was to buy an existing home, but the situation has changed in the 2020s. The supply of existing homes on the market is currently quite low, and prices on them can be high; possibly too high when compared to the real value of the property.

Meanwhile, many construction companies are hurting for work. This has created a situation in which you may be able to get an excellent deal on new construction, especially if you’re willing to forego fancy amenities such as granite countertops. 

2. First home? Make the most of incentives

Many states have programs in place to incentivize home purchases for first-time buyers. Depending on the state, these may come as a financial rebate on the home, tax credits, or special low mortgage rates. Right now, it pays to do some research and see if there’s any way you can qualify for government assistance.

3. Shop around for mortgage rates

With mortgage rates so high in 2024, you should do at least as much shopping for your mortgage as you do for your new home. Don’t automatically use the lender with which your real estate agent partners. Contact every bank and lender you can find and spend plenty of time exploring your options. Having a pre-approved mortgage in hand can also be a big help when bidding for homes!

4. Consider waiting until later this year

It might be a good idea to simply wait for a few months before getting serious about your purchase. It isn’t guaranteed, but many market watchers think the Federal Reserve will lower prime rates in a few months, which would lead to mortgage rates dropping as well. You may be able to get a much better deal if you hold off on purchasing.

Finally, as always, be sure to look for a great real estate agent who will help you find the best deals! Click here to learn more.

MY BIO

Randy has enjoyed over 32 wonderful years in the Real Estate industry making dreams come true for homeowners.

Superior customer service is #1 to Randy and he provides this to all of his clients using knowledge, professionalism, integrity and persistence.

Randy is a successful and experienced real estate agent who expertly represents both buyers and sellers. Scores of Charlotte area residents have trusted Randy in the process of listing their homes to sell.

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Real Estate in Rock Hill,

Fort Mill and surrounding

York county

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"Randy was very easy to work with. He was open and honest, and always there to answer any questions or concerns we had. He was available and worked ... more "
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by Diana Holliday
1422016
"My wife and I worked with Randy to sell our home located in the Lake Wylie area. Great job of preparing the information and advertising for the ... more "
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by Bruce Dycus
1421990
"Randy actually helped us sell our old house and buy our new house. He was honest and hardworking and sold our home in a week. We were pleased with ... more "
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