What to do if you can't find a home

By Katrina Arkley |  5 Minute Read

Finding a home in a hot market can be challenging. Supply is limited, and bidding wars are common with demand so high.  You may find yourself up against dozens of buyers, making it hard to snag the home — and at a price you can afford. It’s important not to lose hope, though. Despite the competitive market, there are ways to find (and buy) your dream home.

 

Are you having trouble with your home search? These tips might help:

 

Get pre-approved for your mortgage. Having pre-approval is critical in a highly active housing market. It could give you a leg up over other buyers, and it can help you gauge your budget more accurately.

 

Expand your search area. Branching out a little often helps open more inventory — and it may reduce your competition. If your lifestyle allows for it, you might even want to try looking in more rural areas.

 

Change your ideal property type. Have some flexibility of your “must haves” and add them to your “nice to have” list.

 

Shop under your budget. Looking for properties well under your maximum budget allows you to bid comfortably above list price and beat out other buyers — without risking your financial standing.

 

Look into building or renovating. Maybe you’d like a new construction home instead of buying an existing house. Or you can look to fixer-uppers and plan to renovate the home before moving. Just make sure you talk to your lender about loan options, as your choice may change what type of mortgage you need.

 

Do you need help on your home search? Get in touch today.

 

DISCLAIMER: The information on this website is not legal or professional advice and therefore is intended as a guide only.

About this post

March 2023

Words by Katrina Arkley

_U7A9649
Katrina Arkley
Real Estate Agent

Property alerts

See more content from Katrina

A collection of open paint cans of different colours with paint brushes sitting on top.

Weekend home projects

Looking for something to do this weekend? How about finally tackling one of those home projects you have been putting off?
A young family smiling whilst putting coins into a pink piggy bank.

How to save for a home

Have you been dreaming of owning your own home or even upgrading the one you currently have? With a few simple steps and a little saving, you could be well on your way to move-in day.
Fall Real Estate Finding a home in a hot market can be challenging. Supply is limited, and bidding wars are common with demand so high. If you're having trouble with your home search, these tips might help.

Getting started in real estate investing

Are you considering venturing into the world of real estate investing? Here’s what to consider before getting started.