Buyer Questions | Sandy Erickson Team Blog

Thursday, October 5, 2023   /   by Brittany Aspenson


Buying a home, especially if it's your first one, is a truly remarkable feat. You’ve probably got a thousand things to consider and a million questions in mind. Where am I gonna live? What type of house should I buy? Which neighborhood is the best for my lifestyle? How much should I put as a down payment? How much mortgage can I afford? And the list goes on and on. 

Thursday, August 10, 2023   /   by Brittany Aspenson


When it comes to purchasing a home, it's easy to get caught up in the excitement of finding your dream property. However, it's important to consider the potential drawbacks of maxing out your budget for this significant investment. By buying a home that is within your means, you can maintain financial stability and preserve the ability to pursue other important financial goals. 

Friday, June 3, 2022   /   by Brittany Aspenson

Should You Buy a Home Before You Retire?

A few financial and logistical considerations before you retire. 

Every day in the U.S., around 10,000 people turn 65. As a result, many people are trying to make the right financial decisions before they retire. For example, should you buy a home before you retire, even if you own your home outright? Today I want to go over a few things you should consider before answering that question. 

The first thing you need to consider is your financial situation. Only 23% of retirees have mortgage debt, so they plan on using their equity to downsize. This is a great position to be in, but it can be difficult to get to your equity sometimes. 

If your equity is not sufficient to purchase your next home, or you’d rather not pay cash and have a mortgage, waiting until after you retire could prevent you from qualifying for a loan. Because of this, it might make sense to purchase your next property before you retire. The best way to do this is to use a home equity line ...

  buyer's, home buyer tips, buyer questions

Tuesday, May 24, 2022   /   by Brittany Aspenson

It’s Still a Great Time To Purchase a Home

I still believe it’s a great time to buy, and today I want to explain why. 

If you’ve been paying attention to the news, you know that interest rates and home prices are rising. As a result, many first-time buyers have asked me recently, “Should I wait until the market changes?” My short answer is no, and today I want to explain why. 

The first reason why you shouldn’t wait to buy is that interest rates will only continue to rise. If you check out the graph at 0:34 in the video above, you can see that our current rates are still low from a historical perspective. However, they’re likely to increase further to combat inflation. Interest rates have a huge impact on your monthly payment and what you can afford, so I recommend getting into the market now while they’re still good. 

"Homes are appreciating rapidly, so you’ll accrue equity fast."

Another reason not to wait is demographic trends. If you look at the gr ...

  buyer's, home buyer tips, buyer questions

Thursday, May 5, 2022   /   by Brittany Aspenson

Where To Find a Less Competitive Market

A few markets where buyers will face less competition for homes.

Many buyers are either uncomfortable or unable to compete in the many multiple-offer situations throughout our Twin Cities market. Today I wanted to talk about some of the less-competitive markets where you may have more time to make a decision and less pressure to offer so much over asking price. 

The first market to look at is the downtown condo market of Minneapolis and St. Paul. Minneapolis has 3.5 months of inventory, and St. Paul has 2.5 months, which is quite a bit more than most markets. The suburbs of these areas are more competitive, with just 0.9 months of inventory. Given that there’s more supply to choose from, you’ll have more time to consider your decision and make the best choice.
The prices in this market are good, too. The list-to-sales price ratio in Minneapolis is 99%, St. Paul’s is 100%, and it’s 102% in the outer suburbs. That means you won’t have to bid as ...

  buyer's, home buyer tips, buyer questions, finding the right home