Buying a home is an exciting experience, but it can also be very stressful if you’re not prepared. Today’s market is all about the seller, and inventory is at an all-time low. Because of that, it’s more important than ever to appeal to the seller so you can have an advantage over your fellow buyer. But how do you accomplish that? There are a few things you can do to not only get a leg-up, but also better prepare you for closing day.
Prep Early
One of the most important parts of ensuring your homebuying success is proper preparation. Doing your due diligence as early as possible with not only get you in the doors of prospective homes faster, it’ll also give you an advantage when it comes time to make an offer. Getting pre-qualified before you begin your home search will help you figure out exactly how much home you can afford, which helps narrow down your options early. It’s also helpful to have all your finances in order before you go to look at homes so you can feel prepared to make an offer as soon as you find a home you love. Before you meet with a realtor, figure out your must haves and have-nots so they can more easily find options that fit within your needs. Getting the prep out of the way can help to expedite the homebuying process, and it’ll look good to a seller if you have everything in order before you view a home.
Be Ready to Buy
Before you view a home, make sure you do as much research as possible on the area it’s in, the specs of the home, anything you can find out without walking through the doors. This will help you qualify it before you step over the threshold and will answer some preliminary questions you may have. Keeping the process as convenient as possible for the seller will make you look more appealing to them and help encourage them to be flexible with you. Before you go to your viewing, also have a ballpark offer ready in case you fall in love with the home. Having an offer ready for negotiations can help speed up the process and shows your intent to commit. A lot of times, both the buyer and the seller’s realtor will be at the viewing, so this is a great way start negotiations in person, which can be easier than playing phone tag.
Be Flexible
It’s important to have your limits when you’re buying a home, but it’s also important to know what wiggle room you have. In today’s market homes are selling for far above asking price, so knowing what your ceiling is will help you determine if you can actually afford a home you’re viewing. In addition to being flexible on price, know which renovations you must have included in the negotiations and which ones you can deal with DIYing. If there’s a buyer ahead of you who wants no changes, you may want to consider narrowing down the list of things you want the seller to do before you move in. Staying flexible on these things will make you more desirable to the seller and can open up more options on the market.
Work with an Expert Team
The golden rule we preach at Flat Branch Home Loans is to always contact a lender as the first step of your buying process. An experienced lender will not only get you pre-qualified and help you ensure you have all the documents and finances you need for closing day, they’ll also help to connect you with realtors in your area who can help you find your dream home. We work with realtors around our community so we can help match you with one who will work to fit your needs. Having an expert team behind you throughout the homebuying process puts you ahead of your buyer competition because you have the resources at your fingertips to make your buying process as easy as possible.
The housing market can be daunting when you first venture into it, but if you follow these tips you’ll be set up for success and have a leg-up on your fellow homebuyer. Ready to start your homebuying journey? Contact an experienced lender at Flat Branch Home Loans today!
