Everyone want to time their home purchase “just right”. Ideally, there will be plenty of well-priced listings, low interest rates, and a slow-moving real estate market where the buyer has plenty of time to decide on an offer.
The reality is that the current market is a fast-paced environment where the best homes move quickly and serious homebuyers need to be prepared to act when they find the right home.Fortunately, starting your home search the right way can be easier by following these Five Simple Tips:
1. Find a lender and Get Pre-ApprovedIt’s very important to know what you can afford before you start your search. By getting pre-approved, you show how much you can afford to borrow. You also demonstrate to sellers that you are serious when you write your offer. These days, most buyer’s agents won’t commit their time to showing you homes or negotiating on your behalf if you don’t already have pre-approval. And usually, sellers won’t consider offers from buyers who aren’t pre-approved.
2. Research NeighborhoodsEach community will have its own personality and advantages; before you spend time looking at homes, choose the right area for your lifestyle and family needs.
3. Make a List of Features you ‘Must-Have’ and ‘Like-to-Have’There is a difference! You may NEED 4 bedrooms, but you may WANT a fenced-in backyard. Make a list for each and rank the items. When it comes time to start house-hunting, you will have your priorities in order.
4. Be Flexible & RealisticPrepare yourself that homes for sale may not meet every expectation you have. You may not find a home that has all the features you want. This is where your 'Must-Have' and 'Like-to-Have' Lists will come in handy.
5. Hire a REALTORLocal REALTORS are helping people buy and sell homes every day, so they are your best resource when it comes to the home-buying process. They know the local real estate market, what types of homes are available and have access to new listings as soon as they are posted.
If you’re thinking about purchasing a home, it is essential to take the time to prepare for success. While you may not be able to avoid all of the obstacles on the path to owning your own home, you can certainly reduce their impact by being prepared. Following these simple tips will prepare you for your home search.