Buying in 2025? Help!!
It’s 2025 and you’re wanting to buy a home. The buyer landscape feels bleak. I get it.
But wait - it’s not! I know it seems tough, and it is. But I’ve been doing this a long time and there are ways we can work to keep your journey active and find success. No matter how tight the market feels, I know that we will get you what you’re looking for. It takes striking a beautiful balance between not having to compromise on your wants/needs, and entering the market with an understanding of the real truths that are in play.
First off is knowing and accepting the reality of the strong Seller’s Market we are in right now, and what kind of context that gives you to work within. I’m going to be real with you, which means being totally honest in order to get you positioned well. Here is what you need to know:
There are pretty much no deals to be had as a buyer right now. This can be a tough pill to swallow sometimes, when you have maybe gotten 30K off a listing price on a past home purchase, or your parents are telling you to always start your offers with an X% under asking, ‘to leave room for negotiation’. I can tell you right now, sellers of accurately priced homes are in no need of having to negotiate in many situations, and expecting them do so will leave you out of the house you were hoping for.
Over-priced homes, or ones that are very unique and do not appeal to the tons of buyers out there? Sure, let’s explore deeply about how to get a deal. Well-priced ones? Sorry. There are many folks just like you out there, also wanting what you want. And if they’ve already lost out on several homes they’ve offered on, they are over that are now coming in strong, rendering other low-ish offers not even a consideration.
Offering asking price, or sometimes a more, does not mean that you have ‘overpaid’ for a home. Home prices are a very subjective number, and they will fluctuate over and over again - often within the same year. The only numbers that are relevant when you are making an offer are current sold price statistics. Not what the seller paid when they bought the house, not what the house was worth when you started in the market a year ago; all that matters is what is happening today, the day you are ready to make an offer.
Today’s purchase is better than tomorrow’s. This is a statement built on the knowledge that the sooner you start paying into your own investment instead of rent, you have made a wise move that will have long-term financial return. With a few exceptions, homes almost always appreciate in value. And today, with house prices showing absolutely no signs of going flat, the sooner you get serious with your offers, the sooner you will be an owner, and the better off you are going to be as you continue to watch home prices soar.
I am still working with first time buyers from 2022 who regret not buying then, as they’ve seen homes in their 450K budget now selling for well over 500K.
Your first home will not be your dream home. Your first home is called that for a reason - it is meant to be an entry into the world of building equity. This first home, for most people, is an essential step in leveraging that equity later as you move into your forever home. Social media is amazing at making us forget that most people live in very normal, still wonderfully incredible homes that are not 3000 sq ft and backing a glorious body of water.
Downsizing is now called ‘right-sizing’… and it very rarely puts money in your pocket anymore. This one is tough, when we all thought that we would use the sale from our big homes to move into smaller ones, and pocket some cash along the way. Unfortunately, the world of this later-life move has become very competitive due largely to baby boomers making this move at the same time and also not enough desirable homes being available - and the result is financially often quite lateral. However, in this case, it is very important to focus on the quality of life upgrade a move like this will bring, including reduced physical barriers, smaller utility bills, increased safety, and maybe even a stronger community.
It is ok to feel ALL of the emotions. You are about to get on a wild rollercoaster of a ride, and I am here to make the bumps few and far between. Having a realistic view of the market will go a long way in helping you reconcile much of what is popping up in your heart as we cruise along on our journey.
Of course, this does not mean that you need to compromise on your wants and needs list. Although compromises always need to be made to some degree, every move you make should be an improvement in your quality of life and living. You don’t need to buy something just because; you deserve to be excited about taking this step and loving the property you purchase.
To recap, success comes at that perfect time that you do find the right home, and that you are ready to go in with a realistic view of what you need to do.
Now, it’s time to get excited!! Thinking of buying? Start HERE with this guide - it’s full of lists and ideas, and is the ideal place to start.
No matter where you are in your journey, I can bring you up to speed and get you right on track. Reach out, I always, always love to hear from you!