On the market for a new home in Cola this year? You’re not alone. Realtor.com recently ranked Columbia in the top 10 markets for 2020.
Across S.C., the housing market was strong in 2019 and looks like it will continue to grow in 2020. Both total home sales and new listings increased 4% in 2019, and while the total number of homes available for sale dropped 3.9%, median sale price rose 7.5% to $215,000.
Experts say inventory is low and demand is high, and continued low mortgage rates + a healthy economy look good for housing in 2020. TL;DR: Now is a good time to invest in a home in Columbia.
If you’re a new homebuyer on the market this spring (congrats on that huge, very adult step), we’ve rounded up 5 must-do’s before you buy your first house from the experts at The ART of Real Estate:
- Make sure you have solid credit. Having a high credit score will help you secure a loan with the best terms available. If you don’t know your score, see if your credit card company offers access to a free service, or check out Equifax, Experian or TransUnion.
- Crunch the numbers. Being realistic about what you can afford in the beginning will save you a lot of trouble down the road. Using a mortgage calculator is helpful but can also be deceiving since most calculators do not account for taxes, insurance, maintenance, or utilities. Be conservative with your numbers so you don’t have to sacrifice and stress.
See three more must-do steps to take before buying your first home. And congratulations on making this next step. Ⓟ
