The traditional home-buying advice—getting pre-approved, moving fast, and making a competitive offer—is solid, but it’s often not enough in today’s competitive market. With inventory tight and bidding wars common, you need an edge that other buyers aren’t using. These five unexpected strategies can help you outsmart the competition and win your dream home.

1. Write a “Love Letter” to the Seller—But Make It Strategic, Not Personal

Buyer letters can be powerful, but many fall flat because they focus only on the buyer’s emotions—or worse, they include identifiable information that could get the seller in trouble for discrimination. For example, a letter that includes information related to race, religion, or family composition, (ie. “We would love to raise our children here”) can actually do more harm than good. Instead, your letter should subtly align with what matters most to the seller about their property.

Research the seller’s motivation if you can. Are they downsizing? Moving for a job? Selling an investment property? Discover what you have in common with them and leverage it to create a connection.

Make it about them—not just why you love the house, but why you’re the perfect buyer for what they need.

Compliment details of the home that show pride of ownership (e.g., custom woodwork, landscaping, or unique design elements).

"We noticed the amazing garden beds in your backyard. The care you’ve put into them is inspiring! If we’re lucky enough to call this home ours, we’d love to keep them thriving."

💡 Pro Tip: Keep it brief, genuine, and seller-focused. Avoid mentioning personal details that could raise Fair Housing concerns.

2. Offer a Seller Leaseback—Even if You Don’t Need One

While most buyers think faster is better, many sellers actually value flexibility more than speed. They may need extra time to find a new home, close on another property, or move out. 

Offer a leaseback where the seller can stay in the home after closing for an agreed period (often 30–60 days).

Make the offer attractive by offering low-cost or even free rent for a short period (if financially feasible).

Structure the offer safely with a formal agreement and insurance coverage.

"We can offer you a 45-day leaseback, giving you extra time to transition smoothly to your next home without the stress of moving immediately."

💡 Pro Tip: If a seller is juggling a difficult move, this could beat a higher offer that doesn’t give them breathing room.

Many St. Louis homes sell without ever hitting the market—through word of mouth, private sales, or pocket listings. Instead of waiting for listings, get ahead of the game by tapping into local networks.

Walk the neighborhood and strike up casual conversations with homeowners and local businesses. Find out who is looking to sell.

Write a handwritten letter and mail it to homes you love, expressing interest in buying directly. (But don’t leave notes in mailboxes by hand—this is illegal!)

Join neighborhood Facebook groups or platforms like Nextdoor, where people often mention if they’re thinking about selling.

"Hi! My name is [Your Name], and I’m looking to buy a home in this neighborhood. Your home is lovely, and it’s exactly what I’m looking for. If you (or anyone you know around here) is considering selling soon, I’d love to chat. No pressure though. Feel free to text me at [Your Contact Info]."

💡 Pro Tip: Many sellers prefer private sales to avoid showings, commissions, and bidding wars.

In a competitive market, it’s tough to know how much to offer without overpaying. Instead of throwing out a blind bid, an escalation clause helps you win without paying more than necessary.

You submit an offer stating: “I will pay $X,000 over the highest competing offer, up to a maximum price of $Y.”

This keeps you in the running without automatically jumping to your highest price.

If you offer $400,000 with an escalation of $5,000 over the highest offer (up to $420,000), and another buyer bids $405,000, your offer would automatically escalate to $410,000—just enough to win.

💡 Pro Tip: Some sellers don’t like escalation clauses because they prefer straightforward offers. If that’s the case, try using an odd, non-round number (e.g., $402,350 instead of $400,000). That tiny difference can give you an edge.

5. Get Creative with Your Down Payment & Earnest Money

Sellers want buyers who look financially strong and can close with minimal risk, because they don’t want their deals to fall through and head back to the drawing board. Even if you’re financing, you can signal financial stability in several ways:

Increase your Earnest Money Deposit (EMD):

Standard earnest money is 1–3% of the purchase price. Bumping it to 5% or more shows commitment.

Use Non-Traditional Funding to Strengthen Your Offer:

Consider borrowing from a 401(k) (some plans allow penalty-free withdrawals for home purchases).

Ask family for a gift fund to increase your down payment.

If necessary, explore bridge loans to unlock equity from your existing home.

"We’re putting down a $25,000 earnest deposit upfront to show our commitment, and we’re fully pre-approved with a guaranteed closing timeline."

💡 Pro Tip: Some lenders offer fully underwritten pre-approvals, which are stronger than regular pre-approvals and make your offer almost as strong as cash.

Winning in a competitive market requires more than just outbidding other buyers—it’s about making your offer the most appealing overall.

Leverage creative approaches other buyers aren’t thinking of.

💬 Which of these strategies surprised you the most? Have you tried any unconventional approaches to win a home? 

Realtor®

The traditional home-buying advice—getting pre-approved, moving fast, and making a competitive offer—is solid, but it’s ...

5 Ways to Win in St. Louis's Competitive Housing Market

Interest rates play a big role in how much home you can afford, and even a small change in rates can make a huge difference in your budget. Whether rates are high or low, understanding how they impact your buying power is key to making smart decisions when it comes to purchasing a home in St. Louis, Missouri. Here’s what you need to know.

Interest rates are essentially the cost of borrowing money. When you take out a mortgage, the interest rate determines how much you’ll pay the lender on top of repaying the loan itself. Higher rates mean you’ll pay more over time, while lower rates keep your monthly payments down and reduce the overall cost of your home.

How Interest Rates Impact Monthly Payments

The most immediate way interest rates affect your buying power is through your monthly mortgage payment. Here’s how it works:

Low interest rates = lower monthly payments, which means you can afford a more expensive home while staying within your budget.

High interest rates = higher monthly payments, which can limit the price range you’re able to shop in.

For example, if interest rates are low, a $300,000 home in St. Louis may fit comfortably within your budget. But if rates increase by even a small percentage, that same home could become too expensive based on the monthly payment alone.

When interest rates rise, lenders may approve you for a smaller loan because your monthly payment would need to stay affordable based on your income. This reduces the maximum price of the home you can afford. On the flip side, when rates are low, lenders may approve you for a larger loan, increasing your home buying power.

That’s why paying attention to the current interest rate environment in St. Louis is important—because it directly influences how much house you can afford to buy.

The Long-Term Cost of Higher Interest Rates

Even if you can manage higher monthly payments, high interest rates mean you’ll pay significantly more over the life of the loan. For example, on a 30-year mortgage, a 1% increase in interest rates could result in tens of thousands of dollars in additional interest paid over the life of the loan. That’s money that could be going toward home improvements, savings, or other financial goals.

If rates are low when you’re ready to buy, locking in that rate can save you money for the life of your mortgage. Most lenders offer a rate lock, which guarantees your interest rate for a set period (usually 30 to 60 days) while you finalize your home purchase. This protects you if rates rise before you close on the home.

Conversely, if rates are high but you need to buy a home, there are options to refinance later when rates drop. Refinancing allows you to get a lower rate down the line, reducing your monthly payments and overall interest costs.

How to Maximize Your Buying Power in Any Market

Interest rates fluctuate, but there are strategies you can use to maximize your buying power no matter what the market looks like:

Boost Your Credit Score: The better your credit score, the lower your interest rate will be. Pay off debts, make on-time payments, and avoid taking on new credit to give your score a boost before applying for a mortgage.

Shop Around for Lenders: Don’t settle for the first interest rate you’re offered. Different lenders may offer different rates based on your financial profile, so it pays to shop around for the best deal.

Make a Larger Down Payment: The more you can put down upfront, the less you’ll need to borrow. This can help reduce your monthly payments and offset the impact of higher interest rates.

Navigating Interest Rates in the St. Louis Real Estate Market

St. Louis offers a wide range of housing options, from historic homes in Soulard to modern lofts in downtown STL. No matter where you’re looking to buy, understanding how interest rates affect your home-buying power is essential. Whether you're a first-time buyer or looking to move up, working with a knowledgeable St. Louis real estate agent can help you navigate these market shifts and make the best financial decision.

Interest rates may seem like just a number, but they have a direct impact on your home buying power and overall budget. By understanding how rates affect your monthly payments and loan amount, and taking steps to improve your financial position, you can make the most of your money and find the home that’s right for you—no matter what the market is doing.

Thinking about buying a home in St. Louis?

 Let’s chat about your options and how to navigate the current interest rate environment to get the best deal possible. 

Interest rates play a big role in how much home you can afford, and even a small change in rates can make a huge differe...

How Interest Rates Affect Your Home Buying Power

March in St. Louis isn't just about Cardinals baseball returning; it's also a pivotal time for home hunters. The psychology of spring, coupled with our unique St. Louis neighborhoods, creates a powerful surge in real estate activity. Ever wonder why you feel that extra push to find your perfect St. Louis home as the weather warms? Let's explore.

Spring Fever and Fresh Perspectives in the Lou:

As the iconic Gateway Arch catches the longer daylight, St. Louisans naturally feel a lift in spirits. The transition from gray winter days to the blooming of Forest Park and the Missouri Botanical Garden does wonders for our outlook. Research shows that increased sunlight elevates serotonin, which impacts our decision-making. This means those charming brick bungalows in St. Louis Hills or the spacious homes in Clayton and University City might look even more appealing than they did in January.

• A 2021 study published in Environmental Health Perspectives found that exposure to natural light improves mood and cognitive performance.

• According to the National Association of Realtors, spring is historically the busiest season for home sales, with March serving as a critical kickoff.

A Time for New Beginnings: St. Louis Renewal

St. Louis is a city of neighborhoods, each with its own unique character and a sense of community. Spring's "fresh start effect" amplifies the desire to find a home that fits your lifestyle. Whether it's a historic home in Lafayette Square or a modern condo downtown, March's symbolism of renewal aligns perfectly with the desire for a fresh start in a new St. Louis space.

• The “fresh start effect” is a psychological phenomenon where time periods of transition boost motivation to achieve goals.

• March’s symbolism of renewal aligns with homebuyers' desires for change.

The Competitive Edge: Navigating the St. Louis Market

With more homes hitting the market, March offers increased options for buyers—but it also brings more competition. According to Zillow, spring listings tend to attract more buyers, which can often lead to bidding wars. This mix can trigger FOMO (the fear of missing out) and push buyers to make quicker decisions—sometimes to their detriment. How can you combat this? Working with an experienced real estate agent can help you navigate the emotional tightrope and ensure you make choices that align with your long-term goals.

• The demand for homes near top-rated St. Louis County schools often peaks in March, leading to competitive bidding.

• The competitive market in March can trigger FOMO, influencing buyer decisions.

March is often a strategic home shopping month for households with children aiming to move before the next school year and for professionals looking to settle in before summer. This practical timeline can add a layer of pressure, but it can also provide structure to the decision-making process. For some buyers, the need to make a move on a deadline might feel stressful. For others, a clear timeline can help reduce anxiety and assist in making decisions that would otherwise be agonizing.

• Many buyers start house hunting in March to align the timeline with other goals and deadlines of their academic or professional calendars.

• Structured timelines can reduce anxiety by creating a clear path forward.

House hunting is as much an emotional journey as it is a financial one. By understanding how seasonal shifts affect your mindset, you can approach the process with confidence and clarity. What’s the best move? Working with a knowledgeable agent will provide the perspective needed to balance emotion with practicality. If you’ve got the right support, March can be the perfect month to find a home that feels just right.

Ready to explore the spring market? Get in touch to get started!

The psychology of spring, coupled with our unique St. Louis neighborhoods, creates a powerful surge in real estate activity. Ever wonder why you feel that extra push to find your perfect St. Louis home as the weather warms? Let's explore.

The Psychology of House Hunting: How March Can Shape Your Decision

Gateway to Your Dream Home: Why St. Louis Buyers Feel the Spring Rush

Homeowners insurance is a critical aspect of protecting your investment, yet many misconceptions persist, especially among St. Louis homeowners. Let's address some common myths to help you make informed decisions about your coverage.

Myth #1: Homeowners Insurance Covers All Types of Damage

While standard homeowners insurance policies offer broad protection, they come with specific exclusions. In the Midwest, it's essential to be aware of the following:

: Standard policies typically do not cover flood-related damages. Given the proximity of St. Louis to the Mississippi River, homeowners should consider purchasing separate flood insurance through the National Flood Insurance Program (NFIP) or private insurers.

: Missouri, particularly the southeastern region, is near the New Madrid Seismic Zone. Earthquake coverage usually requires an additional endorsement or a separate policy.

: With aging infrastructure in parts of St. Louis, sewer backups can be a concern. Standard policies often exclude this, but many insurers offer riders for added protection.

Myth #2: My Home is Insured for Its Market Value

Insurance coverage should reflect the cost to rebuild your home, not its current market value. Construction costs can fluctuate due to material prices and labor availability. Regularly reviewing your policy ensures you have adequate coverage to rebuild in case of a loss.

Myth #3: Injuries on My Property Are Always Covered

Liability coverage does protect you if someone is injured on your property, but there are exceptions. For instance, if the injury results from negligence, such as failing to repair a known hazard, you could be liable beyond your policy limits. Additionally, if you operate a home-based business, injuries related to business activities may not be covered under a standard policy.

Myth #4: My Valuables Are Fully Covered Under My Policy

Standard homeowners policies often have limits on coverage for high-value items like jewelry, art, or collectibles. To ensure these items are fully protected, consider adding a scheduled personal property endorsement to your policy, which covers specific items for their appraised value.

Myth #5: Working from Home Doesn't Affect My Homeowners Insurance

With the rise of remote work, many assume their homeowners policy covers all work-related equipment and liabilities. However, standard policies may offer limited coverage for business property and typically exclude business-related liability. If you have significant work equipment or clients visiting your home, consider additional coverage options like a home-based business policy or business property endorsement.

Myth #6: Mold and Termite Damage Are Covered by Homeowners Insurance

Mold and termite issues are generally considered preventable through regular maintenance. Insurance policies usually exclude damage resulting from neglect or lack of upkeep. However, if mold results from a covered peril, such as water damage from a burst pipe, your policy may cover remediation costs.

Myth #7: If My Neighbor's Tree Damages My Home, Their Insurance Pays

In most cases, if a neighbor's tree falls on your property, your homeowners insurance covers the damage. If the tree was known to be hazardous and your neighbor neglected to address it, their insurance might be liable. It's advisable to discuss potential hazards with neighbors to prevent such situations.

Myth #8: Filing a Claim Will Always Increase My Premiums

While filing a claim can impact your premiums, insurers consider factors like claim frequency, severity, and your overall claims history. A single claim may not lead to a significant increase, but multiple claims over a short period can affect your rates. It's important to assess whether filing a claim is necessary or if minor repairs can be managed out-of-pocket.

Local Insights: Homeowners Insurance Trends in St. Louis

Homeowners in the St. Louis metro area might be hearing about skyrocketing insurance premiums, but there’s some good news—our region is in a much better position than many others. A new study from the National Bureau of Economic Research (NBER) shows that while homeowners insurance costs are up 33% nationwide since 2020, much of that increase is hitting high-risk disaster zones and areas heavily reliant on reinsurance. 

In Missouri, the average cost of homeowners insurance in 2023 was $2,706, with projections for 2024 slightly decreasing to $2,697. This stability is favorable compared to national trends. 

However, it's important to note that premiums can vary within the region. For example, the average annual homeowners insurance rate in St. Louis is $2,745, which is higher than some neighboring areas. 

Understanding the specifics of your homeowners insurance policy is crucial to ensure adequate protection. Regularly review your coverage, especially in light of regional trends and potential risks specific to the St. Louis area. If you have questions or need assistance navigating your homeowners insurance options, feel free to reach out. Let's ensure your home and assets are well-protected.

Common Homeowners Insurance Myths Debunked

Winter’s dragging on. The walls are closing in. You’ve reorganized your pantry twice, binge-watched everything worth watching, and if you have to hear one more weather report about freezing rain, you might actually lose it. Sound familiar? You, my friend, are suffering from a classic case of cabin fever. But don’t worry—St. Louis has plenty of ways to shake off the winter blues and get you back into the world.

If you’re craving some greenery and fresh air but can’t quite bring yourself to brave the elements, head to the 

Climatron at the Missouri Botanical Garden

. This lush, tropical dome is kept at a balmy 85 degrees year-round, making it the perfect escape from the cold. Stroll through exotic plants, listen to waterfalls, and pretend (even if just for an hour) that you’re on a jungle vacation.

Get Your Blood Pumping with Indoor Activities

When your body is begging for movement after days of couch-lounging, it’s time to hit up one of St. Louis’s many indoor activity centers. Try:

 – Test your strength and shake off the winter sluggishness by scaling some indoor climbing walls.

 – Because bouncing around like a kid is an instant mood booster.

 – Use those winter-hibernation-induced detective skills to solve puzzles and break free before time runs out.

If there was ever a time to try that restaurant you’ve been hearing about, this is it. Warm up with a bowl of pho at 

, or treat yourself to a decadent hot chocolate at 

. Bonus points if you make a whole day of it by hopping between cozy cafes and bakeries.

Sometimes the best way to escape is through a little culture. Spend an afternoon wandering through the 

, exploring contemporary exhibits at the 

. Bonus: Most of these museums are free, so your wallet stays warm too.

Maybe what you really need is a break from the mental clutter. Take a yoga or meditation class at 

. If you’re feeling fancy, book yourself a spa day at 

 and let someone else take care of your winter-weary self for a change.

Okay, hear me out: sometimes the best way to deal with winter is to lean into it. Bundle up and take a brisk walk through 

 for some ice skating, then reward yourself with a lengendary hot Irish coffee (with house-made whipped cream) at 

They say laughter is the best medicine, and it’s true—especially when you’re stuck in the winter doldrums. Catch a comedy show at 

. Even if the weather outside is bleak, at least your mood doesn’t have to be.

Nothing beats the energy of a live game and I'll be it has been a while since you've seen our hockey team play. Catch a 

 game at the Enterprise Center. A stadium full of passionate fans is a guaranteed cure for seasonal boredom. 

Sometimes, breaking cabin fever means shaking up your routine entirely. Try axe throwing at 

. A new experience might be just the thing to snap you out of your winter slump.

St. Louis has no shortage of ways to stay entertained, even when the weather isn’t cooperating. Whether you want to warm up, get active, indulge, or explore, there’s an escape plan waiting for you. So layer up, get out there, and remind yourself that winter doesn’t last forever—but a good time in St. Louis is always in season.

Cabin Fever? The Best Things to Do in St. Louis When You Need to Get Out

Hiring a real estate agent is a smart move for anyone buying or selling a home—but especially when market conditions are challenging. Real estate agents have the necessary experience and expert knowledge of negotiation, complex real estate processes, and the local area where you’re doing business. They’ll make your transaction smoother and your life easier while getting you a great deal; you just have to find the right fit for you.

How do you do that? You can find a great real estate agent via the web and online reviews, social media, or word-of-mouth recommendations. Wherever you find yours, don’t hire them until you’ve asked these eight questions.

Ask this question to get an understanding of how occupied the real estate agent is. Everyone is busy—but if the agent has an overloaded schedule, an upcoming vacation, or other conflicts, it might be worth looking into another option. You should feel sure that the real estate agent has time for you and that your needs will be met.

This one is important if you’re selling a home. How will the agent get your property in front of potential buyers? Does their marketing plan include professional photography? What about social media advertising and email blasts? Print media?

There are many different marketing tactics a real estate agent can use to sell your home, and just as no two homes are alike, no two real estate transactions should be treated as identical. Your potential agent should talk to you about your goals and come up with a unique-to-you plan for achieving them. If they don’t, keep shopping around.

Whether you’re buying or selling, negotiation is potentially the most nerve-wracking part of the transaction—for everyone! Asking this question will help you understand how the real estate agent will negotiate on your behalf. Do they play hardball or are they more compromising—and which do you prefer? It will also tell you how confident the agent is in their ability to get you the price you want and the terms you’re looking for, so make sure you’re happy with their answer.

Buying or selling, it’s important to have a real estate agent whose communication style is compatible with yours. Do you prefer calls, emails, or texts? Do you like bare-bones, straightforward information or do you prefer a little sugar-coating? Make sure your preferences match before committing to a situation that could end up frustrating you. Now is a good time to ask how often the real estate agent will be in touch and what kind of updates you can expect to receive.

5. How long have you been in business in this area? 

Asking this question will give you an idea of the real estate agent's experience level and their familiarity with the market. These things are important because they influence how expertly the agent will be able to navigate any issues that arise. It will determine how well they place your home in the market if you’re selling and how easily they find you your dream home at the right price if you're buying. Local expertise and years of experience also come with a priceless network of relationships and contacts to help you meet your goals.

Does that mean you should never go with a new real estate agent? Not necessarily. But a brand new agent should have an experienced team backing them up to provide guidance and everything else they need to ensure your success.

Ask this question to be sure you understand how much you will pay the agent for their services. If you’re a buyer, you generally don’t have to worry about it. Typically, buyer’s agents and seller’s agents are paid a percentage out of the proceeds of the home sale. If you’re a seller, make sure you know what that percentage is so you’re not surprised when the sale goes through.

Many real estate agencies also offer additional services like staging, repairs, and even remodeling for homesellers. If you'd like to use any of these, make sure you know what the costs are and whether or not you have to pay them upfront or after you sell. 

Buying or selling a home is a huge decision, and who you choose to accompany you on that journey can mean the difference between mega success and mega stress. Great real estate agents understand that, and they should be happy to provide references from clients who had good experiences working with them. It’s also a good idea to look up public reviews of any real estate agent you’re thinking of hiring. This will give you an idea of what it’s like to work with them and what sort of results you can expect.

8. What experience do you have with these market conditions?

The answer to this question will tell you how confident the agent is that they can help you reach your goals—even if the market is difficult. It will give you an idea of how tuned in to the market they are and if they’re aware of the current potential pitfalls and struggles. It also gives you an opportunity to see how straightforward the real estate agent is with their communication. A good follow-up question is: “What’s your plan for making sure we’re successful in this market?” 

We’ve got answers. Tell us what’s on your mind and what your goals are, and we’ll make a plan to help you meet them.

Ask These 8 Questions Before Hiring a Real Estate Agent

Buying a home for the first time? Use this list of dos and don’ts as your guide.

Your first home purchase is an exciting moment, but it’s important to not rush any part of the process. Taking your time has numerous benefits and can prevent costly mistakes. 

Shopping around for lenders instead of jumping at the first one who offers you a mortgage, for example, can save you over

on closing costs and interest over the lifetime of the loan.

Meticulously going through each piece of paperwork will help prevent big problems. Skimming because you’re in a hurry could cause you to miss details and cause delays—or worse, land you in a contract with clauses you didn’t fully read. Your real estate agent has your back, and their expert eye will help you avoid this type of problem, but it’s best to come into the home purchase process with a level, detail-oriented, and patient mindset. This will also help you remain stress-free if delays or problems arise for other reasons.

Where else should you stop to take a breath? The creation of the must-have list. Slow down and create a comprehensive picture of your dream home that includes location, size, number of beds and baths, amenities, and anything else you can’t live without. Categorize the list into dealbreakers (things that really are

in order for you to buy) and flexible items that you’d enjoy, but be willing to let go if necessary (also called

). Don’t forget the items that you don’t want to see on the property, like a certain type of heating or any landscaping features that could trigger your allergies. Taking the time to think through every detail will ensure that you’re happy with your home purchase for years to come.

Don’t: Sign anything you don’t understand.

Real estate legalese is complex enough to give anyone a headache, and it’s common to feel confused or overwhelmed when you’re trying to process it—especially under pressure. It’s totally fine (and recommended!) to ask an expert for help at this stage. Your real estate agent should go clause-by-clause through your purchase agreement to make sure you understand and feel comfortable with every aspect. Likewise, your lender should have no problem walking you through your mortgage paperwork so that you know exactly what you’re getting into.

When you’re coming up with your home purchase budget, you likely know how much you need for a downpayment and how much you can afford in monthly payments. But as a first-time homebuyer, you might not be aware that you’ll need around

of the home’s purchase price to cover closing costs. Last month’s median sale price in the U.S. was

, and at that value, you’d need between $12,000 and $24,000 for closing costs (in addition to your downpayment).

What are closing costs? They’re the fees associated with the real estate transaction itself. They include items like the deed transfer, title search, loan origination, home inspection, appraisal, and more. Some are paid for by the buyer and some are paid by the seller—and who traditionally pays for what depends on the laws in the state where you live.

Sometimes you can ask a seller to cover some or all of the closing costs as part of your negotiation—but whether or not they accept will depend on the competitiveness of your local market. If a seller has multiple offers on their home, they’ll likely take one that doesn’t ask for a seller concession. But if the home has been sitting on the market for a while and they’re struggling to find a buyer, you might be in luck. Ask your real estate agent their thoughts on including this in your offer.

FOMO can be strong during the home shopping experience, but don’t jump into a home purchase that doesn’t feel quite right because you’re afraid someone else is going to snag it. You should feel 100% confident that you’ve found the home for you—at the right price with the right terms—before you agree to buy it.

Remember those complete and detailed must-have list you made earlier? Stick to it. If you find that your budget and your list don’t align, then you can make adjustments—but don’t go for any house just because it’s available. You’re likely to live in the home you buy for several years at least, so you want to make sure it’s the right one. Ignore the pressure, and hang in there until you find that dream home.

Speaking of the must-have list—do you really need a fourth bedroom, or can that move into the nice-to-have category? Does the home need to be in exactly this neighborhood, or will a few streets over work just as well?

This isn’t to say that you should compromise on every item. But taking a clear-eyed look at each one and asking yourself, “Do I need this to be happy, or am I just being stubborn?” will help you narrow down the list to something manageable. One way to do this is to think of each item’s actual use. If you need a fourth bedroom because you work from home or because you frequently host guests, then it stays. But if you can’t say exactly why you want it, or you want it because you just do, consider moving it to the nice-to-haves so that finding your home in your budget is easier for you.

Ah—the budget. This is another area where being a first-time homebuyer can be challenging. First-time homebuyers don’t have the equity of another property to fund their home purchase, so budgets tend to be smaller—and that’s okay! But it’s important to understand the market in the area where you’re home shopping and be realistic about what you can get for the amount you have. If you’re preapproved for financing up to $500,000, you’re probably not going to have any luck shopping in a neighborhood of million-dollar homes. Additionally, if $500,000 is the average cost of a three-bedroom home in your area, you might have a hard time finding five bedrooms at that price.

Talk with your real estate agent about your budget and your expectations, and they can provide information about the market to see if anything needs adjusting.

You should get preapproved before you start your home search. Why? Preapproval: 

Gives you a clear picture of your budget.

Locks in your mortgage rate for a set period of time.

Lets sellers know you’re capable of and serious about buying.

Speeds up your financing down the line because the bank already has your documentation.

How do you get preapproved? Start by shopping around for quotes. When you’re ready to apply, you’ll need to gather a variety of paperwork, including tax records, pay stubs, bank statements, a list of your monthly debts, employment verification, and identification. If any part of your downpayment is a gift, you’ll need a gift letter verifying that the money doesn’t need to be paid back. You may also be asked to provide rental information and landlord references if you’re a renter.

Once you fill out the application, your lender will analyze your information and tell you whether or not you qualify for a mortgage. If you do, they’ll issue a preapproval letter that’s usually valid for 90 days. You can use this as part of your offer to show a seller that financing won’t be a problem for you—which makes your offer more competitive!

It’s normal to have questions throughout the home shopping process, and you should never hesitate to ask. Whether it’s a complex question about real estate laws, or a small detail about a house you went to see, your real estate agent can help. There’s no question too big or too small, and the only silly questions are the ones you don’t ask. It’s important to be as informed as possible so you feel comfortable and confident when you purchase your home—so ask away.

Do: Look into first-time homebuyer programs.

Most states as well as some counties and cities have financing programs for first-time homebuyers to help you qualify for a mortgage. These programs can include grants or forgivable loans to assist with your downpayment or closing costs, and they can also help you get a lower interest rate.

How do you find them? Take to Google, ask your real estate agent, or talk to your lender. Keep in mind that most of these programs have income limits, and many require you to take a short homebuyer educational session before you qualify, so start early.

Everyone should hire an experienced real estate agent when they’re shopping for a new home, but it’s especially important if you’re new to the real estate industry. An expert real estate agent will provide you with insight into the market, help you make a competitive offer, negotiate to get you the best deal, and ultimately, find you your dream home. They’re your guide for every step of a complex process, and you can depend on them to provide you with accurate information and help you make important decisions.

Don’t have a real estate agent yet? Get in touch. We can’t wait to help you buy your first home.

Our team has the local expertise and experience you need. We’ll find you a home you’ll love at the right price on your timeline. Fill out the form below to get started.

First-Time Homebuyer? Do This, Not That.

Spring is here! With warm weather on the way, it’s time to think about planting, cleaning, and upgrading our outside spaces. Which outdoor projects add the most value to your home? Check it out:

1. A top-of-the-line outdoor kitchen for entertaining

Outdoor kitchens shot to popularity during the pandemic, and they’re sticking around. Why? They’re versatile, fun, and great for entertaining. They take outdoor gatherings and backyard grilling to the next level, offering a full suite of cooking appliances, running water, and prep space in one convenient outdoor spot. Forget about running back and forth from the indoor kitchen to the backyard; with an outdoor kitchen, no one has to miss out on a minute of the party. Additionally, an outdoor kitchen can help you save money on utility bills—especially during their highest-use time in the summer. Cooking outdoors helps reduce indoor heat buildup, decreasing the need for air conditioning. 

, “CNN Money, About.com and Remodeling Magazine support that outdoor kitchens nationally return 100% to 200% of the improvement cost” when you go to sell later. Using the national average cost for an outdoor kitchen ($13,180), that means you’re adding anywhere between $13,180 and $26,360 to the value of your home.

For maximum value boost, think about universally usable features that every buyer will love. For example, is your outdoor kitchen easily accessible from your house? Did you opt for top-of-the-line appliances? Does it have tons of counter space for easy prep? Don’t overlook the basics like storage and functional plumbing. Opulent finishes and clever gadgets could improve your enjoyment of the space—which is important—but if your main concern is resale value, think well-designed and highly functional.

2. A luxe outdoor living space for relaxation

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