This market is crazy, to say the least since the beginning of the pandemic, we have seen a significant increase in housing prices and demand. People are scrambling to sell their homes, and others are looking for a new home. The housing market is hot right now for sellers. But how do buyers increase their chances of buying their dream home in this market? Well, we have some tips for you to increase the odds! Giving yourself an edge in this competitive market means you have a better chance of securing your dream home.
Many of these tips are simple! They are things that you can easily do to make the house buying process more straightforward. We understand that purchasing a home is complicated, and there are many moving pieces that need to come together simultaneously. So, getting these simple things out of the way gives you the time and space to handle the larger issues that may arise. In this type of market, our house buyers need to do everything possible to make the process easier.
Get Preapproved
The first tip we give all potential homebuyers is to get preapproved. Being preapproved is a crucial first step in the home buying process. The first step to preapproval is finding a mortgage lender and getting preapproved for a loan. Preapproval means that when you are ready to buy a home, the lender has already agreed to a mortgage amount and a loan type. Mortgage lenders will work with you to get you the mortgage that best fits your situation. Once you have gotten preapproved, this makes your realtor’s job much more manageable. When you find that perfect home, you will be ready to make an offer. The realtor will let the buyers know that you are preapproved, which increases your chances of your request being selected.
Have Your House Ready to Sell
If you are already a homeowner, selling your home can be one of the most challenging steps. Ensuring that your house is ready to go on the market while shopping for another home is overwhelming. The timing must be perfect to make sure that your family is moving into a new home and your old home sale has been closed. One tip is to have your home as close to ready for the market as possible. Preparing your house may mean making repairs or increasing the curb appeal. You can also begin to pack and prepare for the move. Learn more about how you can prepare to move.
Be Financial Prepared
Being financially prepared is the first step, but there are some things to think about while preparing to buy a home. While you may already be preapproved, it is not a bad idea to continue saving your money. Buying a home is most likely the largest purchase you will ever make, and it can be costly. Ensuring you have enough funds for the down payment is a no-brainer, but you will also need money for your mortgage insurance, house insurance, property taxes, etc. Some of these will be included in your mortgage, but ensuring that you have backup funds will provide some peace of mind.
Choose a Realtor
Choosing the right realtor is one of the most important things you will do while buying a home. Picking your realtor is a crucial step. You need to find an agent who knows the area like the back of their hand and will listen to you when you describe your wants and needs. While you can use apps like zillow.com and realtor.com to search for houses on the market, you will need a realtor who can find off-market deals or know of homes that may pop up.
You need to find a realtor who is the right fit for you. They will be helping to facilitate the biggest purchase of your life, which is no small task. So, you need someone who will listen and guide you throughout the purchase. If you are looking to purchase a home in East Central Indiana, check out our available agents who will give you a competitive market advantage.
Be Ready To Go Attend Open House
Being ready and able to go to an open house at a moment’s notice is so important. During the duration of your preapproved loan period, which is usually 30-60 days, we would suggest clearing your calendar. Having an open schedule ensures that you can attend an open house at a moment’s notice. Open houses give you the chance to view a home you are interested in with no pressure from the seller’s agent. Open houses are the perfect time to see if the home is a fit for you. Give yourself an edge in this competitive market by having an open schedule.
Get More Information
Each of these tips are things that you can do to make sure that you have that an edge in this competitive market. At American Heritage Realty, we don’t want our clients to struggle to find a house for months. That is why we give them all the tips they need to succeed. If you are interested in purchasing a home or selling a home in East Central Indiana, learn more about American Heritage Realty. We have been in operation since 1977, and we have the expertise and technology to help you buy a home or sell a home. Get to know us!