Creative Strategies for Finding Homes

With a continuing decrease in mortgage applications and record low inventory, it seems that many buyers are exhausted and opting to sit out of this early summer sales season. Some prospective homebuyers are getting creative with strategies to find homes, here are a few:

Joining Forces

Many aspiring homebuyers are unable to afford homes on their own in 2022. Some have been partnering with family members, friends, and significant others to get their foot in the door and increase buying power. While this may not be the most ideal option for some situations, it gives you an opportunity to become a homeowner and have more flexibility when looking to purchase homes. Many millennials and younger homebuyers also are using gifts from parents and other family members as a way to cover part of their down payment cost.

Fixer Uppers

Not everyone will be able to purchase their dream home in todays market and that's okay, but its better to start somewhere. Some buyers have opted to find homes in good areas that need some work and can be improved overtime. Try finding the worst house on the best street and taking time to improve it at your own pace. This also gives you the opportunity to really make the home yours, and continue to add unique improvements as is financially feasible for you. Everyone is fighting for the homes that are perfect right now, but with the right mindset and patience you can make a number of homes perfect for you in the future.

Search Smarter

Think strategically about when and where to look for homes during the hot home buying season, it can make a difference when finding the right home and getting the right price. Also try to utilize technology as much as possible. Tech like virtual tours, interactive floor plans, augmented reality staging, and home valuation tools can help save you time and money when searching for homes.

While it may seem like a tough time to buy a home, there are plenty of ways to be creative and make it work for your situation. Don't give up on becoming a homeowner quite yet, get creative and find a realtor that is willing to do the same. If you are in a situation where you can't quite secure financing, consider Crescent's Lease Purchase Program. We will get you in the home of your choice and give you up to two years to secure financing and make the home yours! Crescent also works with the agent of your choice or sets you up with one of our well versed preferred agents to find you the perfect home. Start your journey to homeownership today!