Both buyers and sellers are very cautious right now about the real estate market. Rightfully so as we experienced a big shift in the market, however, a clear head is always a good idea when thinking about or handling real estate. In order to keep perspective and remain clear headed consider these five points:
- Remember your long-term plans.Building wealth is always a long-term play. What will this real estate transaction help with? Not wasting money on rent? Increase cash flow for retirement? Will a new rental help pay for college?
- Consider your current pain points.This helps to keep your motivation in mind. Are you selling your home because you need something bigger or smaller? Or are you selling a problem rental to reinvest? Your pain points won’t typically go away unless you make a change.
- Be Creative.This includes getting creative with both the lender and real estate agent. You will want to make sure you are looking at all possible loan products with the lender and consider asking the seller to buy down your rate. Additionally, be open to different neighborhoods or opportunities. Would doing a house hack for a year or two in your first home help you financially?
- Stay Positive.Real estate is an emotional rollercoaster and it is easy to get down and stuck there. However, keep in mind the real estate market is always fluctuating and will change again. Challenges are always manageable and they just require creative solutions.
- Don’t get lost in the weeds. There are a lot of details in buying and/or selling your house AND staying on top of the market. Please be sure to utilize your real estate agent with these things – that is their job!
This may be a more difficult chapter but with grit, teamwork and creativity, it will get accomplished!
Liz is  broker and owner of Liz Daigle Realty.
