HOW TO PREPARE FOR A HOT SPRING MARKET
Homebuyers are facing some of the most challenging housing market conditions in almost a decade, including lower inventory, higher interest rates, and heftier prices than this time last year. Not to mention, the “spring market” is traditionally the time when the greatest number of home buyers are hunting for homes, so even if you don’t plan to buy until May or June, it’s smart to start preparing today so that you don’t fall behind.
If you’re looking to buy a home this spring, here’s what you should do to prepare for the fast-paced and competitive market:
1. Get pre-approved and set a budget.
I’ve said it before and I’ll say it again — speaking with a lender, setting your budget, and getting pre-approved is always the first step, especially in this market!
2. Talk to your agent NOW.
With such low inventory, it’s important to start the conversation with your realtor about your home search sooner rather than later. Your agent can educate you on the current market, set expectations, and start looking for homes that fit your criteria (on and off the market).
3. Get yourself in the right mindset.
You’re going to need to act fast, and be prepared to make a strong offer. While some areas may be a little less competitive, it’s better to be prepared to put your best foot forward. Don’t get desperate, the right home WILL come, so lean on your agent for advice when it’s time to submit a competitive offer.
4. Be flexible!
Don’t narrow down your search too much. Consider homes that may need a little TLC, or don’t have central air. Open your search to different neighborhoods and home styles. The more flexible you are, the more options you’ll have.
I love helping buyers find and secure their dream home, while making sure the entire process is as exciting and fun as possible! So if you’re thinking of making a move, I would love to help! Send me a message to get a FREE copy of my homebuyer guide, and let’s grab coffee to chat about your goals.