Maximize Your Buying Power For CT Homes For Sale | CTReal Blog

If you?ve read the news in the past few years you know that now is the time to get into the Connecticut real estate market. Prices and interest rates are low and now inventory is growing rapidly. It?s a great time to be trying to maximize your buying power.

What do you mean maximize my buying power, I can afford what I can afford?

That is true, but where, how and why you choose to spend that money can truly impact your future growth potential.

Let?s start with the where. Where are you going to spend the mortgage that you have been pre-approved for? Since our main objective here is maximizing your buying power, you?ll want to focus on locations that are traditionally quality locations, but that are still limping back to full value. You won?t want to focus on a town/city that has prices that have risen or stabilized. You?ll want to look at CT towns that have traditional been very strong real estate markets, but that have been slow to come back.

Now I bet you want me to tell you what markets these are right? Well, that?s not my area of expertise. A CT REALTOR? could really help you in this area as they have their fingers on the pulse of the market.

Now you?ve figured out the where, let?s talk about the how. Again, this is an area that you REALTOR? can truly help you with, but if you want to start on your own, a good place to start is by taking a look at what has sold in the towns you?re interested in. You can do this by searching Connecticut recently sold properties and then narrowing them down by properties that have sold in your price range. This will give you an idea of how much home you will be able to afford in the location of your choosing.

Finally we want to talk about why. This is a critical piece to puzzle and one that most people forget to consider. Why are you looking at CT homes for sale?

An investment property?
A retirement home?
A family home?

Knowing the answer to the question why is often overlooked, but it is very important. The answer to why will inform the types of property you?re looking for and where you?ll want to buy.

Let?s say for instance you and your spouse are just starting out and you?re not quite ready to start a family so you think you?ll look at smaller places that are closer to the action. The mortgage you qualify may not buy you a home in the center of it all that will also give you enough space to grow your family. Are you prepared to move in five years? Does it make financial sense to turn around and move again?

These are all questions you have to answer. Keep in mind that your buying power diminishes if you don?t take the time in one location to build equity.

What ways have you found to maximize your buying power? Share them in the comments below.

herman cain harry potter and the half blood prince city of ember city of ember virgin diaries kevin smith kevin smith