{"id":8288,"date":"2022-12-05T06:00:12","date_gmt":"2022-12-05T11:00:12","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8288"},"modified":"2022-12-05T06:00:12","modified_gmt":"2022-12-05T11:00:12","slug":"prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8288","title":{"rendered":"Prioritizing Your Wants and Needs as a Homebuyer in Today\u2019s Market"},"content":{"rendered":"
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\"Prioritizing<\/p>\n

There\u2019s no denying mortgage rates<\/a> are higher now than they were last year. And if you\u2019re thinking about buying a home, this may be top of mind for you. That\u2019s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you\u2019ll need to be strategic so you can find a home that meets your needs and budget<\/a>.<\/span><\/p>\n

Danielle Hale, Chief Economist at realtor.com,<\/em> explains<\/a>:<\/p>\n

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\u201cThe key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead<\/strong>, . . . Another key point is to avoid stretching your budget, as tempting as it may be given the diminished purchasing power.\u201d <\/em><\/p>\n<\/blockquote>\n

In other words, it\u2019s important to be mindful of what\u2019s a necessity and what\u2019s a nice-to-have when searching for a home. And the best way to understand this is to put together a list of desired features for your home search.<\/p>\n

The first step? Get pre-approved<\/a> for a mortgage. Pre-approval<\/a> helps you better understand what you can borrow for your home loan, and that plays an important role in how you\u2019ll craft your list. After all, you don\u2019t want to fall in love with a home that\u2019s out of reach. Once you have a good grasp of your budget, you can begin to list (and prioritize) all the features of a home you would like.<\/p>\n

Here\u2019s a great way to think about them before you begin:<\/p>\n