Two words to describe buying a home over the last two years?

So what should you be thinking about if youre easing into this hot market in 2022?

Here are some important things to know.

A wooden house sits in a field with flowers around it. The house is attached to giant balloons.

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

But what if your car breaks down, or you have a sudden medical bill?

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Submit an offer quickly, and go in planning to minimize your contingencies.

It is a sellers market after all, so they have the leverage.

Did you know?

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Theyll do all the research, find the best options, and present you with the information.

Mortgage brokers can also helpbuyers with lower creditfind a lender willing to work with them.

In some cases, the seller might ask for that.

Thats a giant red flag.

The cost usually runs around $350 for an average size house, and only takes a few hours.

Skipping this important step could turn your dream house into a nightmare a few years later.

So, we repeat: Dont do it!

If thats the plan, then findinga good, trustworthy contractoris as important as ever.

You dont just want to jump in headfirst and hire your brother-in-law because hes a good handyman.

Also, confirm anyone you hire is insured and licensed.

Get references from other homeowners who have used contractors that youre considering.

Too many people skip those all-important steps and end up regretting it months later.

In fact, the 100% down payment was quite the thing in 2021.

In April, 25% of buyers paid cash,according to the National Association of Realtors.

The median down payment for September 2020 through February 2021 was 16%, according toRedfin data.

The pandemic kicked the market into gear.

That doesnt mean you have to put down 20%.

Its not a requirement.

But its something to consider if you have the margin in your finances.

Robert Bruce is a senior writer for The Penny Hoarder.

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