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This resulted in a limited supply of houses on the market.
However, according to Redfin, the lock-in effect may be coming to an end in early 2025.
Thus, this is a good time for potential homebuyers to get financially prepared.
According to real estate experts, hereshow to prepare for buying a home.
A higher credit score can save you thousands over the life of your mortgage, she said.
This is the biggest monthly payment you make, and it can dramatically impact your credit score.
Closing costs, moving expenses, andpotential repairs or upgradeson your new home can add up quickly.
A mortgage preapproval is more than just a formality.
Knowledge is power in a competitive housing market.
Build Relationships With Key Stakeholders
Finally, Godur said, dont underestimate the power of relationships.
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