The 5 Things You Need to Do When Buying A Home this Spring
The spring market is upon us! As the market gets busier and more listings hit the market, buyers need to be prepared on how to navigate this particular market. Here are a few tips on how to prepare to buy a home this spring.
This is a great place to start! Begin by getting connected with a local, reputable lender to start this process. Lenders will be able to give you perspective on your ideal home search price range or steps to improving your credit to get the pre-approval. The pre-approval will also allow you to be prepared to write an offer when you fall in love with a property.
Have a Non-Negotiables List
Make a list of criteria you MUST HAVE in your home. List 5 to 10 items, from location, to the number of bedrooms, bathrooms, garage, yard space, finished basement, square footage, etc. The list will focus your home search and give your realtor a clear idea of what you’re looking for.
Be Ready to Write
With the amount of competition in the Spring market, you cannot be indecisive with your decision & should write as soon as you’re sure about a home. Do your best to get comfortable with a purchase agreement before writing one with your realtor to ensure you can submit your offer in a timely manner. Don’t hesitate, because the market moves quickly and competition gets more intense when inventory is low.
Chances are, you’re not the only one who loves the home you’re writing an offer on. Increase your chances by making a change in inspections, limiting contingencies, increasing your earnest money deposit, etc. Take specific guidance from your realtor on how to make your offer irresistible to the seller.
Don’t get discouraged if your offer wasn’t accepted, this is a competitive time in the market & there’s going to be other opportunities. The spring market is often the time of year with the biggest increase in new listings entering the market, so keep your eyes peeled & watch for opportunities your realtor sends your way.
We’re ready to tackle this spring with you, contact us today for a free buyers consultation.