Nicole’s 5 Buyer Tips for Buying a Home in Today’s Market!!!
Wednesday, March 29th, 2023Looking to buy a home can be an exciting but overwhelming experience, especially if you’re a first-time homebuyer. With so many options available and factors to consider, it can be difficult to know where to start. That’s why I’ve put together a list of 5 essential tips for anyone looking to buy real estate in the current market. Whether you’re a seasoned buyer or just starting out, these tips will help you make informed decisions and find the perfect home for you. And to make things even easier, I’ve created a video to accompany this post, so you can follow along. So, without further ado, let’s dive into the top 5 buyer tips for real estate!
#1. Get pre-approved for a mortgage.
This seems obvious, but you would be surprised how many people I meet for the first time who ask me to show them 5 homes that day, and when we get to the first home, I ask, so how much were you pre-approved for? and they say oh we haven’t gone to the bank yet 😲. In today’s competitive market, it’s essential to have a pre-approval in place before you start your property search. This will give you a clear idea of your budget and help you avoid wasting time (yours and mine) looking at properties outside your price range. It also gives you that competitive advantage of being ready to pull the trigger as soon as you find the property you love.
#2. Put your budget into a mortgage calculator.
Just because you are pre-approved for a certain number, doesn’t mean you want to pay that much. There are tons of apps that you can find that will calculate your costs. You basically put in the purchase price, and your down payment amount, and it will calculate at today’s interest rate, how much your mortgage payments would be. You should also factor in property taxes, insurance and some utilities to get a good idea of how much your costs will be every month. You might find that you don’t want to spend as much as the bank is giving you.
#3. Work with an experienced real estate agent.
A good real estate agent can be an invaluable asset in a competitive market. They can help you find properties that meet your criteria, so that you are not running around looking at homes that don’t have that walk-in closet or ensuite bathroom you want. They will negotiate on your behalf. And provide valuable insights on local market trends, like how to win an offer in today’s competitive market.
#4. Be prepared to act quickly.
With low inventory and high demand, homes can sell quickly in today’s market. Be ready to make an offer as soon as you find a property that meets your needs. This may mean being flexible on closing dates, offering a higher deposit, or being willing to waive contingencies.
#5. Stay focused on your goals.
It’s easy to get caught up in the excitement of a hot real estate market, but it’s important to stay focused on your goals and priorities. Don’t let the fear of missing out (FOMO) drive your decision making. Stick to your budget, timeline, and must haves to ensure you make a sound investment that meets your needs in the long term.
For more information feel free to connect with me at 519-591-7413 or nicole@therizteam.com
Nicole Shantz – Sales Representative | The Riz Team – Real Estate Professionals | Royal LePage Wolle Realty, Brokerage
Remember….Don’t put it on HOLD…call The Riz Team to get it SOLD!!!™
