My Blog January 3, 2023

Defining your Real Estate Goals for 2023

With the new year just kicking off, now is the time to think about your real estate goals for 2023. 

If buying or selling a home is on your 2023 agenda, it is critical for you to understand today’s housing market.

2022 brought high inflation and increased interest rates, which have an impact of the economy as well as the housing market.  There are three key questions to be asking yourself as you consider your 2023 goals.

1. What is Motivating you? Is your motivation becoming a first time homeowner? The need for more space? The need for less space and/or something with lower maintenance? A career/job relocation? Selling a family home, settling an estate or divesting real estate assets? Whatever the reason is, use your motivating factors as your guidepost to achieve a lasting sense of accomplishment.

2. Envision What Your Next Home Will Look Like. When you know you want to move or want to sell, think about the essential elements of your dream home. You also want to make a list of the non-negotiable home features and the features the have a more flexible criteria. Finding a balance with your wants and needs is important. Location and condition are two key factors that are typically at the top of buyers’ wish lists.

3. How Ready Are You To Buy? Before your get too far into the home buying process, it is imperative to consult with a lender or financial advisor to have a deep understanding of what your position to buy is. A pre-approval from a lender and down payment review are musts to secure a smooth transaction. If your move involves selling your existing home, you will want a review of your home equity.

A real estate professional has the experience, knowledge and training to guide you through every step of the process. A real estate transaction is a process that can feel overwhelming. A lack of information can create misconceptions about the real estate market and sale process, but working with a trusted expert can connect you with the best and most relevant market data about the state of today’s market.

Let’s connect to review your 2023 goals so they can become a reality!