5 Real Estate Tips From Barbara Corcoran To Know Before You Buy Your Next Home

It’s housing market deja vu that no potential homeowner asked for. Several issues buyers struggled with last year — including high asking prices and a low (though gradually improving) inventory of available homes for sale — are spilling over into 2025.

Could there be any relief anticipated for this year? “Shark Tank” star and investor Barbara Corcoran recently sat down with Yahoo! Finance to share her insight on what she’s seeing in the market, as well as her advice for buyers.

Here are her five tips on what potential buyers should know before buying a home in 2025.

Corcoran said this is the most important tip for buying a home because this is where buyers find the best value.

Ideally, buyers should look at the houses that have been sitting on the market for a while and not just listings which have recently arrived on the market. According to Corcoran, everyone will rush to go see the new listings. The savvy buyer conducts a search based on homes that have been on the market nine months or longer.

“Those [sellers] are having second thoughts,” said Corcoran. “They’re thinking of taking a lower offer and are ready to move, and that’s where you want to put in your low offer.”

According to Corcoran, most buyers don’t like to shop for homes during the winter months or around Christmas because they think it’s a bad time of year for real estate. The reality is it’s actually the best time to find and buy a house.

“You’re not going to have any competition out there, and sellers are going to be more likely to take your bid,” said Corcoran.

Many buyers don’t want to purchase fixer-uppers because it takes a lot of upfront cash, but Corcoran said you can always get a construction loan to help cover costs. Buyers that are willing to invest in a fixer-upper and wait a few months for the loan will be able to add an incredible amount of value to the home.

Buyers that do this can create a small unit in their home’s basement or the back of the house, which Corcoran said can help offset your insurance costs.

Corcoran said you’d be “crazy” not to check out if you’re in a high-risk area for natural disasters like wildfires, hurricanes or tornadoes before buying a house.

“Right away, you’re going to increase your insurance cost probably by close to 20% or, in some instances, 25%,” Corcoran said.

The silver lining of buying in a high-risk area is that it tends to scare off a good chunk of the competition. Brave buyers willing to take a risk might not just be able to buy a home, but could potentially make a lower offer and purchase a house for less than its asking price.