In Portland, first-time home buyers face a unique set of challenges. The growing market paired with climbing rates and limited housing options for low-income families makes for an intense real estate climate. For those new home buyers who’re prepared to dive headfirst in into Portland’s tricky market, these three tips should provide you with a smart framework to begin your housing search.
Start With Pre-Approval
Find out what you can spend before daydreaming over internet listings. Knowing your precise budget early will save you a lot of time as you narrow down your prospects, and it can also focus your search in terms of neighborhoods, or quadrants.
Use A Broker
Buyer’s brokers are paid for by the seller and incur no cost to the buyer. First-time buyers would do well to use a broker.
Dream Big, But Not Too Big
Knowing not just your budget but also the real estate trends in your area of interest can prevent you from making ill-advised decisions. Real estate markets fluctuate, and in an area experiencing growth at the level Portland is right now, being as judicious as possible while purchasing a new home is in your best interest.
Stonebridge Mortgage Group can help you with your Reverse Mortgage, Real Estate Loan, and many other mortgage solutions. We serve the greater Portland area and are located in Gresham, Oregon. Call us today at 503.661.5580