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New year, new home?
Many are predicting that home prices wont drop in 2025 but theyll rise at a slower rate.
Also seethe home trends buyers are looking for in 2025.
But with home prices and interest rates high, its a difficult ask.
In fact, 49% of respondents cited staying in budget as their biggest possible challenge.
Going all-in on the house of your dreams or battling through a bidding war may seriously damage your finances.
Setting a realistic homebuying budget is an important step toward being financially prepared to own a home.
Figuring out your budget goes far beyond down payments, closing costs, moving expenses and other incidentals.
Mortgage Interest Rates
Despite recent rate cuts by the Federal Reserve, mortgage rates are still high.
The survey showed that 42% worry mortgage interest rates will pose a challenge this year.
You might be waiting forever for interest rates to drop to what you think is normal.
The biggest purchase in your life shouldnt be shrouded in buyers remorse.
Yet 34% of survey respondents cited this as their biggest potential challenge this year.
According toDiscover, the location of a house could be equally important as the actual house.
Gone are familiarity, routine and order things that we use to cope in our everyday lives.
And 29% of homebuyers cited competition with other buyers as their biggest potential challenge in 2025.
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