Tips for Navigating a Spring Housing Market | Trusted American Mortgage
When is the perfect time to buy a house? When you are ready, of course! However, there are certain times throughout the year when the housing market historically becomes more competitive or more saturated with housing options.
The spring season is typically one of those seasons, in part due to the weather as well as tax refunds burning holes in people’s pockets. While it can certainly be an exciting time of year to look for a new home, it does come with its own challenges. Check out our tips on navigating the housing market during the spring season below.
Tip #1: Get Pre-Approved First
This is our top tip for prospective homebuyers! Desirable homes tend to go fast in the springtime, so you want to give yourself every advantage possible when it comes to submitting an offer. The home you love could be long gone by the time you tour it, search around for a lender to pre-approve a loan and then come back with an offer.
This is where we can help! Our team can help you find the right loan based on your current lifestyle and situation, and we can help you navigate the financial piece of your home-buying process. Once you are armed with the pre-approval that you need, you will be able to jump on the house of your dreams with confidence.
Tip #2: Be Flexible
If you have ever purchased a home before, you know how stressful it can be during the process. If the home has a lot of interest in it, there could be multiple offers on it within the very first day that it hits the market. That can make it a bit trickier if you hold strict guidelines for the home you are searching for. This is especially true during a hot spring market!
Be open to exploring new neighborhoods or types of properties, and understand where you will have to be flexible in order to be successful in having an offer accepted. Choose the non-negotiables like number of bedrooms or the layout of the home, but keep an open mind about things like flooring, property landscaping or other things that can easily be changed over time.
Tip #3: Be Patient
All this being said, it might take a little bit longer than you originally anticipated for you to eventually find the home you want and for your offer to be accepted. Don’t be discouraged if you find a home that you love, only to have your offer not be accepted or even overlooked. There will always be more homes that come on the market, and the next best thing might pop up unexpectedly!
If you are flexible with your needs, wait patiently and are ready to make an offer immediately, you will be in your new home in no time at all!
Want to be ready for the spring housing market? Contact us at Trusted American Mortgage to get pre-approved today.