Are you in the market for a new home? Make your move today!
Like you, recently we’ve heard a lot about how buying a home right now can be complicated because it’s a seller’s market. We’ve also heard that many people, unless they absolutely have to make a move, are biding their time waiting for the housing market to lean a bit more in their favor before starting the home buying process.
The truth is that no matter when you buy, house shopping always comes with some extra stress. Instead of waiting to buy that home you’ve been dreaming of, we want to help you take that first step by providing you with some tips that can help you be more successful in a seller’s market. We are positive that you will ultimately get that house you want, but it’s critical you are on your “A” game.
- Make your best offer. The motivation to buy what we want for as little money as possible is deeply engrained in us. What that usually means is that when people see the listing price of a home they want, they wonder what they can really get the house for. Offering lower than asking price is a reasonable strategy in a buyer’s market, but in a seller’s market this may not be the best strategy. Instead, come in with a strong first offer.
- Don’t overanalyze the purchase price. Home buying is risky, so spending time agonizing about a purchase price in a seller’s market can cost you your dream home. If you find the home you’ve been looking for, in the location you want, and it’s in your price range, don’t wait to make an offer. Also, make sure you have your finances in order by obtaining a pre-approval for your mortgage loan.
- Work with an experienced agent. In a seller’s market, buyers will find a lot of upside in working with a seasoned agent. In fact, statistics show you’ll probably have a better chance of getting the home you want.
- Get pre-approved. We can’t stress this enough. It’s paramount to take the time to get pre-approved (or at the very least pre-qualified) for a mortgage loan. Taking this step, demonstrates to the seller that you have your financial ducks in order and that there won’t be any unnecessary delays in the buying process.
- Learn from your mistakes. If at first you fail, and your offer isn’t accepted, learn from those past transaction(s) so that ultimately you can buy the home of your dreams.
Are you ready to get started? Contact us today! Not in the market to buy a home, but are curious if you can save money on your existing mortgage payment? We’re ready to talk to you about the potential benefits of refinancing!
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