Buying a house seems virtually impossible right now, but there are still advantages to homeownership. Consider your situation, and follow these tips if you want to buy a home in today’s wild housing market. (iStock)

The housing market is in a frenzy, with homes selling almost immediately upon being listed, often well above the asking price. Homebuyers are tasked with increasing their budgets or decreasing their expectations, even waiving standard contingencies like a home inspection.  

The state of the market is in part due to a housing shortage of nearly four million units, according to Freddie Mac. Home prices soared by 17.2% between March 2020 and March 2021, with no sign of slowing down. Plus, historically low interest rates make it an ideal time to take out a mortgage.  

Regardless of the cutthroat housing market, it’s still a good financial strategy to buy a house, as long as you plan to live there for a long enough…

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