Spring is right around the corner and with it comes the most active time of year for home buying! The spring real estate season is known for an influx of new listings and open houses. With low interest rates and declining inventory, there is much buyer competition. Follow these tips to set yourself up for success during the busy spring real estate season!
1. Research
With a competitive market, it is important to know what you want. Assess the value of other homes in the area and see what the community has to offer. Keep in mind public transportation, schooling and education systems for children and local attractions.
2. Be Committed
As a home buyer, you must be prepared for what the market has to offer. It is crucial to be working with professional agents who are fully invested and will educate you and assist them in your purchase process. Make sure financially and emotionally that you are ready to purchase a home.
3. Set Your Budget
As a buyer, you should begin your search below your max budget. In doing so, this will provide flexibility for when you’re competing with other buyers.
4. Find a Real Estate Agent
It is important to partner with an experienced, local realtor. Always stay accessible to your real estate agent and keep in touch. The real estate agent will assist you in searching for the best home at the best price.
5. Have Your Financing in Order
When searching for a home, being pre-approved is a must. Make sure you’re in contact with one of our professional Jersey Mortgage Loan Officers so they can work with you and guide you to beginning your purchase journey!
Requirements for Mortgage Pre-Approval:
- Personal identification
- Proof of income
- Proof of assets
- Credit Verification
- Employment Verification
- Debt statements
Bottom Line:
Buying a home at any point of the year can be stressful. As long as you prepare for what to expect this spring real estate season, you will be able to close a deal on your dream home!
