So you’ve decided to move to Portland…
We can help. Recently, Portland’s housing market has shifted in favor of sellers. Buyers are lining up to get their hands on a house in the area. Prices have fallen by close to 30% since their peak in 2007, and mortgage rates are low. Because the prices are stabilizing, buyers aren’t quite so concerned about their new home losing value right away.
As a result, buyers are fighting over a limited supply of homes, and sellers are in a prime position. This article offers some tips when considering buying a house in Portland.
1. Get your finances under control. Determine how much you can afford to spend on a home. Most real estate sales involve bank or credit financing, so you’ll want to research the loan options that are available to you. Once you get approved by a mortgage broker or loan officer, you will have an easier time finding a negotiating advantage.
2. Hire an agent. This is a big decision, so don’t take it lightly. You want someone to be your advocate and negotiate for you. They can inform you of local issues like schools, zoning, neighborhoods, and taxes. Because sellers will almost always pay the buyer’s agent fee, you really can’t go wrong hiring one.
3. Find the home you want. Never underestimate this step in the process. Buying a home is a huge decision, and you definitely don’t want to move to a place in which you don’t actually want to live. Make sure it’s the right neighborhood for you, and be sure that the house meets all your requirements. Consider your storage and living space needs. Will you want a big family? Do you already have a lot of stuff that needs to be stored? How much privacy from your neighbors would you prefer? All of these questions need to be addressed before you commit to a sale.
Once you’ve made your decision to move to Portland, start your search for the perfect home. Hiring a real estate agent can help you every step of the way, and they will act on your behalf to get you the most for your money and keep you protected from scams.
What do you find most attractive about living in Portland, OR?
Do you have a piece of property (house, lot, or land) you’d like to sell fast? Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. https://pdxrenovations.com/