Home prices are rising and housing inventory is low. So how on earth are first-time home buyers supposed to break into the housing market?

Here are 5 Tips to Help You Find a Starter Home.

1. Have realistic expectations about the housing market.

Knowing the state of the housing market will help you avoid unrealistic expectations. Right now, we’re in a seller’s market and inventory is low. Competition has been strong this year and homes in the lower price range have flown off the market.

Get pre-approved immediately and find out exactly what your price range is. Those with tight budgets need to be realistic about what they can afford and the amenities that come with their budget.

This probably means forgoing the best appliances and marble countertops. You’ll need to remember that this probably won't be your forever home. This home is a comfortable, usually smaller, stepping stone to the home of your dreams.

2. Modify your wish list.

Keep open-minded about the size, condition and location of your starter home. Starter homes typically have fewer amenities, meaning improvements you make to your home will increase its value, which is very important when using your home as a launching pad for your dream home.

Alternatively, if you make the right renovations or additions over time, you might actually warm up to it as a forever home. Keep an eye out for older homes in well-established neighborhoods. These are less expensive, and you can pace yourself as you work on repairs and or make upgrades.

3. Don't worry too much about the location.

You don’t need to worry so much about location, size, and school district, especially if you haven't had children yet. Starter homes allow homeowners to build up savings and equity, making their future move into their preferred locations easier.

Because home prices in the lower price range are highly competitive, you may want to make a strong offer that is actually above the asking price and include the least amount of conditions as possible. You can also increase your chances of getting your offer accepted by giving the seller flexibility and time to move after closing, and also making a larger down payment.

4. Hire a great realtor.

With lots of competition, you need a tried and true realtor who can work hard and negotiate, and strategize on your behalf. Realtors have 

If you’re looking for a starter home in Sarnia-Lambton, our team can help get your foot in the door in the housing market. Call us today at (519) 331-3746.