Expert Advice for First-Time Home Buyers and Homeowners 

There are indications the rate increases and the prospect of further rises are impacting housing market decisions with inventories (the number of houses for sale at any one time) increasing and a corresponding fall in homes listed for sale.

As always, there are whispers of a housing market crash, although the counter to this is the endless number of “experts” waiting to tell us that we’ve nothing to worry about.

We have asked expert financial and real estate bloggers for their advice to help first-time homebuyers and homeowners looking to sell. Here are their thoughts: 

Focus on your time horizon's goals, not near-term storms. It's also important to remember that the word mortgage translates to “until death.” 

Focus on How Long You Plan to Own the Home

As long as you are not overextending your finances to purchase, there is no reason to wait for a “better” market. Similar to trying to time the stock market and buy on the dips, that market may never come.”

Buying a Primary Residence is Not an Investment

With housing accounting for more and more of the typical budget, finding creative ways to decrease your housing expense is prudent. House hacking is how many Millennials are lightening their mortgage load each month.

House Hack for Financial Independence

An escalator clause tells sellers how much you're willing to spend up to, automatically increasing the amount you offer for the house in specified increments up to a specific price. If the house receives no other or lower bids, you're not stuck paying an unnecessarily high price for the home.

Use an Escalator Clause to Avoid Overpaying in a Difficult-To-Read Market

A home impacts your quality of living- positively and negatively. Having a place to live in the right location, with the right features to live fully, can be worth paying a premium.

Focus on Ideal Home, Not Market as Housing Under-Production May Keep Housing Stable

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