It’s not a secret that the real estate market is pretty crazy right now. Home prices in the Twin Cities have risen 9.8% in the last year alone and the housing supply is at historically low levels. So how can you best be prepared if you want to buy a home in 2021? Read below to find out!

  1. Get pre-approved. Talking to a lender should be your first step. Making sure you’re financially able to buy a house and there are no surprises on your credit report is paramount. You don’t want to find your dream home only to realize something is bringing down your credit that you were unaware of!

  2. Research home buying assistance programs. There’s a huge misconception that you need 20% down to buy a home and that’s just not true! Many different loan options don’t require 20% down, and there are lots of assistance programs for home buying. Here’s a list of first-time home buyer loans you could qualify for.

  3. Make a “Wants and Needs” list. In today’s market buyers need to act quickly. It’s not uncommon for a home to be listed for sale on Thursday and have an accepted offer by Sunday. Narrowing down what you’d like in your perfect home and what you need in your perfect home is important so you don’t waste your time looking at the wrong home while the “right” home is selling. It’s also a great way to avoid “buyer fatigue”. Touring tons of houses can get tiring, and you can end up settling for a house you don’t want or missing the one you do!

  4. Be a Smart Home Buyer. We wrote the book about being a Smart Home Buyer! It walks you through exactly what to expect throughout the entire process. Read the book here!

  5. Meet with a Grey Duck Properties agent. It’s no surprise that the best way to be prepared for something is to talk with an expert. Schedule a quick consultation with one of our agents to walk through the steps of home buying and you could be on your way to homeownership in 2021!

It can be a little overwhelming thinking about buying a home right now, but it’s important to remember that while home prices have been on the rise, interest rates have remained at historic lows making homeownership more attainable than ever before. Buying a home is an exciting process and we love being a part of people’s journeys. Call or email us today to get started!



Contact us today for more information!