4 Tips for Buying in Ocean Springs!

So, you’ve seen the market hit an all-time low these past few years and you’re wondering when or even if you should consider jumping in to the uneasy waters. You love the Ocean Springs area and know you want to stay for a while, which is where I can help! Below are four tips for buying in Mississippi Gulf Coast in today’s market. These pieces of advice may seem “old school”, but maybe the past generations had it right!

1. Save Smart for a Down Payment- You may be leery of throwing all your equity into a mortgage in the case of an economic downturn. However, as the market continues to stabilize, the 15%-20% down payment can pay off! A higher equity, lower payments and better interest rates will set you up in the long run.

2. Borrow with Your Budget- It may be tempting to “go big” when you look at what you’ve been approved for by a lender. Yet, the best advice is simply: live within your means. Short sales and foreclosures are in abundance these days as many decided to bite off more than they could chew. Be smart about setting up a realistic budget.

3. Think Long Term- A safe bet is to buy for the long haul. Although the market seems to be improving, this is not the time to buy only to turn around and sell. Flipping an older home has been glamorized lately, but chances of making a fast dollar in real estate today are slim. Think through the long term plan and buy smart.

4. Understand the Mississippi Gulf Coast Market- The national averages are just that- averages. Our market, and every cities market, is unique. Feel free to ask me any questions about Ocean Springs and the surrounding area! I can give you insight into our housing, job market and area statistics.

As always, I’m here to help! I’d love to talk with you more about the Mississippi Gulf Coast area. There are a lot of great homes on the market, and my main goal is to help you find the place that fits your budget and lifestyle! Hope to hear from you soon!


Chester Harvey
Ocean Springs Real Estate
Ocean Springs Community News
www.ChesterHarvey.com

Chester Harvey, proudly providing superior real estate services to Mississippi Gulf Coast Communities.