If you are a buyer in today’s housing market, chances are you have already felt the effects of the low housing inventory; multiple offer situations, canceled showings, or just not having enough homes to choose from. To say the least today’s market is competitive, and as a buyer, you must come prepared and ready as well! Now, let’s see what you can do to become a competitive buyer in today’s market.
Meet with your Lender First
Before you start looking at homes, you are going to want to obtain your mortgage preapproval. Having your preapproval completed and ready to go will allow you to move quickly on homes you are interested in putting offers on.
Know What You Want
With homes going quickly on the market today, knowing what you need in a home will benefit you. When you can narrow down what neighborhood you like, how many bedrooms and bathrooms you need, and other home features, you will not waste time looking at homes that do not best fit your needs.
Be Prepared for Multiple Offer Situations
Chances are, there will be more than one offer on the home you want to put an offer on too. So, being able to present a strong offer is going to set you apart from the other buyers. Understanding how the process works and keeping your budget in mind will help maintain a competitive edge in these situations.
Buyers in today’s housing market have their work cut out for them, but by working with your trusted REALTOR® and communicating your concerns, opinions, and frustrations, you will be in your new home before you know it.
Blog By: Haley McCarty