Is now a good time to buy a house?
Yes and no. Mortgage rates reached record lows in early 2021 but jumped in 2022. Meanwhile, strong demand for homes pushed prices up and frustrated many potential home buyers.
However, the record-breaking housing market has finally begun to cool. Slowing price gains and rising inventories is all good news for buyers.
Here’s a guide for buying a house:
1. Understand why you want to buy a house
2. Check your credit score
3. Create a housing budget
4. Save for a down payment
5. Shop for a mortgage
6. Hire a real estate agent
7. See multiple homes
8. Make an offer
9. Get a home inspection
10. Negotiate repairs and credits
11. Secure your financing
12. Do a final walk-through
13. Close on your house