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Shopping for a Home in 2021 – With out Money

This put up could comprise affiliate hyperlinks. Click on right here to learn my full disclosure.

If you happen to’re shopping for a home in 2021, you may be feeling discouraged. Money consumers and lack of stock are driving up the costs of houses, and it’s so powerful to compete once you don’t have a money supply (for effectively above checklist worth usually). 

2021 has been a loopy yr of shortages. There’s a scarcity of houses, a scarcity of automobiles, a scarcity of froth to make sofas and recliners…

Neglect the bathroom paper scarcity of 2020! That is critical enterprise! You understand precisely what I’m speaking about in case your lease is expiring quickly, and also you’re nervous that your landlord could resolve to promote the house. 

Leases should not available both, so what are you able to do? 

We moved to Florida final yr proper because the pandemic was shutting all the things down. We determined to hire for a yr or so earlier than shopping for a house. We needed to deal with an enormous quantity of debt we’d accrued earlier than we jumped into residence possession.

I additionally thought it was a good suggestion to get to know the world in order that we may study which neighborhoods flood throughout heavy rains and hurricanes and that are safer for teenagers.

The true property market exploded in my small city, very similar to the remainder of the US, however the distinction was we’ve some huge cash coming into this seashore city, which implies a number of competitors for residence purchases with money.

I shared awhile again why we selected to not use Navy Federal Credit score Union for our mortgage and what the method was like previous to closing with Quicken Loans aka Rocket Mortgage. 

Lengthy story quick, Rocket Mortgage saved the day. We had been capable of purchase the right home for us inside our price range (a price range about $50k larger than Navy Fed was prepared to lend us). 

We closed Could 26, 2021, and we’ve been engaged on the home ever since. However how had been we capable of scoop up this residence earlier than anybody else had an opportunity to even see it?

I turned buddies on Fb with just a few Realtors in our native market. Typically, God simply supplies precisely what you want once you want it. 

Considered one of my Realtor buddies despatched me a message on Fb letting me know that she had a list coming in the marketplace in per week. 

It might have been unlawful for her to point out us the house previous to itemizing it, so she waited till she listed the home, and we seen the property half-hour after the itemizing went stay within the MLS!

We submitted a suggestion that morning, and it was a powerful supply (over asking worth), assured the home would appraise for extra.

We had been mistaken. 

I used to be devastated when our residence appraised for $20,000 lower than we had provided! Yikes! However the sellers agreed to cut back the worth by $17,500, and we had been capable of shut on time! 

Right here’s one other cool proven fact that I have to share with you.

Navy Federal Credit score Union’s RealtyPlus Program

Once we first utilized for a mortgage by Navy Federal (as new members who’re non-military), we had been capable of take part in a consumers’ rebate program. 

If you make the most of one in every of Navy Fed’s RealtyPlus companions, you obtain a rebate deposited into your Navy Federal financial savings account 10-14 days after closing. 

The perfect half?! You don’t must finance your own home by Navy Federal! So after closing, we obtained $1,750 again. 

Now, as a former Realtor, I’ve to let you know that this cash comes straight out of the consumers’ agent’s fee, however it’s best to NOT really feel unhealthy about that. 

These brokers who take part in referral packages are prepared to pay the payment to obtain purchaser leads. This can be a purchaser and fee that they’d not have in any other case procured, in order that they’re pleased to do it. 

You possibly can study extra concerning the RealtyPlus program right here

Shopping for a home in 2021 with out money is feasible. You’ve simply gotta have just a little religion and lots of persistence. Don’t make a hasty determination that you simply’ll remorse! 




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