A Few Things You Need to Know About Buying a Home This Summer
Are you planning on buying a home this summer? With these tips and advice from real estate pros you’ll be more prepared than ever!
Summer is usually where more people are house hunting due to warmer weather and longer days, hoping to close in on a house before the school year begins in late August. People think that since its summer they’ll be more houses to be sold, which is a myth! This year there’s actually less inventory than ever before. The reason for this is because investors are renting out the homes that they’ve bought, prices have increased so homeowners aren’t able to afford to trade, or homeowners are still struggling with their finances and can’t afford to sell. Selling a home is expensive and does cost money, which a lot of people fail to realize.
Tips When Buying a Home This Summer
- Finance ahead of time
- No one likes interest rates but it’s still cheap to borrow money. But it’s been said that sellers are more prone to consider buyers who are preapproved for a loan and have a letter, especially if it’s from a lender that’s well-known like Wells Fargo, Bank of America, or even credit unions. Its best to do that instead of filling out an application online.
- Be Realistic
- Be realistic with yourself on what’s most important to you and what’s non-negotiable which means something that you refuse to change or need in your life. Make a list of what you need, want, and what would be nice to have! Ask yourself, “Do I really need this?” Be able to differentiate what you can live with and live without.
- Don’t just find any real estate agent to represent you
- Usually when house hunting its best to get a real estate agent. You have to make sure your agent is legitimate and is credible, meaning that they’re able to provide information about homes right when they hear about it! Its not recommended to get an agent that’s representing both you and the seller, cause chances are they might have the seller’s best interest over you. Get someone that’s solely focused on you and your needs!