Spring time is known to be the busiest time of year in the real estate industry. As the temperature rises not only do we see blossoming flowers and the signs of life returning to nature, we also see a dramatic increase in the number of homes hitting the market, as well as a larger number of potential home buyers looking to find their perfect match. Tips for selling a home is often covered, but if you’re a buyer, there are a few things you may want to do for success this spring.
It has never been more important to hire a real estate agent than in today’s market. It is crucial that you hire someone who is experienced in many types of transactions. You deserve to have a professional representing your best interests throughout the entire buying process. A buyer’s agent will help you with your home search, required contractual paperwork, negotiations, inspections, and any other concerns that may come up. A good tour guide understands market trends and how those trends will affect your personal real estate needs. Remember, it will cost you nothing to hire a buyer’s agent; the seller of your new home will pay their commission, so you have nothing to lose.
2. Understand Your Financial Profile and Get Pre-Approved For a Home Mortgage
If you’re looking to buy a house you’ve probably prepared a budget in order to determine how much you are comfortable spending on a new place. And while that is a good place to start, the reality is that the world of home financing has changed dramatically in recent years. Obtaining a home mortgage is harder today than it has been a very long time, which means you may not be qualified to borrow as much money as you think. Before you go out and tour any homes, you should meet with a mortgage specialist to determine an accurate budget and then follow the steps necessary to gain pre-approval for a loan. If you are pre-approved for a mortgage before you make an offer, you will not be considered a “wannabe” buyer. The result is that the home seller is much more likely to entertain your bid.
3. Prioritize Your Needs and Wants
Home buyers’ needs vary for many reasons. Families with children want to live near good school systems and they tend to want bigger yards and outdoor play areas. People who are devoted to their careers will pay more attention to the ease of their commute. Single people tend to seek out places that offer a certain level of entertainment and proximity to other unmarried residents. Likewise, retirees are concerned about the vicinity of local hospitals and perhaps, recreational activities like golf. As a home buyer you should have a solid understanding of your own needs. Make a checklist and prioritize the items on that list; what do you need vs. what do you want? Understand that your list will shift and change based on your budget constraints and market trends. And remember that when you buy a house, you are also buying the neighborhood.