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Ways to prepare for buying a home next year

“Don’t get really attached. Secondly, figure out a budget. Figure out how much you can afford and stick to that budget,” Joyce said.
A home for sale with a sold sign graphic out front.
A home for sale with a sold sign graphic out front.(WLUC/Canva)
Published: May. 3, 2021 at 3:36 PM EDT
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RICHMOND, Va. (WWBT) - If you have plans to buy a house in 2022, now is the time to start preparing yourself.

The market’s been hot and mainly for sellers. Inventory has been low. So, see how this year is shaping up. Watch closely, even if you are waiting to buy in a year or two.

Michael Joyce with the Richmond financial firm Agili says rule number one is when you start looking, keep emotions out of it.

“Don’t get really attached. Secondly, figure out a budget. Figure out how much you can afford and stick to that budget,” Joyce said.

Joyce adds that housing prices have been moving up because of a lack of supply. It won’t be that way forever. At some point, they are going to plateau and even fall back.

Also, he says to watch out for bidding wars. Don’t give up too much or be too attached to a house that you go over your budget.

Finally, Joyce says get out a pen and paper when you do make an offer on a home and write a letter to the seller letting them know why you want the house.

Sometimes that small trick can sway people in your favor.

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