There’s more to buying than just making an offer—here are a few important things you’ll need to keep in mind when house-hunting.
Do The Research
Make sure you get familiar with market trends and values in the area in which you are looking to buy. Although your real estate agent will have this knowledge, you will find it much more of a cohesive experience if you have a clear understanding of the local market and reasonable expectations.
Don’t Rely on Online Listings
Real estate sites are useful, but are no substitute for actually being shown a home. The first offers are usually the most successful, so you may want to take advantage of sites that can instantly send you updates when new homes are placed on the market that fit your specifications. It’s crucial to see the homes as soon after they are listed as possible.
Have Your Finances in Order
Make sure you get pre-approved for a mortgage before you dive into the process, so that your home loan amount is already determined in advance. Some lenders even offer the opportunity to become fully approved—doing so if you are able to will be a definite advantage when competing with other buyers. Many real estate agents will not allow clients who are not pre-approved to submit offers.
If you find and fall in love with a home that’s just been put on the market, especially in a hot area, chances are someone else may very well close the deal before you even make an offer. Being prepared financially will have you ready to take immediate action once the right property comes along.
Choose a Realtor You Can Trust
Chances are, you’ll have much better luck with a realtor who is very familiar with the area you’re looking in. Having an experienced, savvy realtor on your side is absolutely essential to those searching for the perfect home—they will work on your behalf to find a property, make sure all inspections and loose ends are tied up, and help you have a competitive edge in today’s fast-moving world of real estate.