During some seasons of the year, people are more likely to buy homes than other seasons. Spring home buying is one example of seasonal buying. In the spring, people tend to be more interested in moving and buying a home. This can make it more difficult for your to get the home that you want. With more buyers comes more competition. Often, that means higher sale prices. Fortunately, there are a few ways that you can prevent getting stuck behind the rush of springtime home buyers.
Tips for Avoiding the Spring Home Buying Rush
Don’t let the rush to buy homes stop you from purchasing your home in the spring. If you shop carefully, then you can avoid the rush and get a great deal on a home. Here are a few tips to get you started:
1. Understand Your Seasons
Spring is not only April through June. Although April, May, and June are usually the spring home buying months, that’s not always the case. Depending on where you live, the season could be longer or shorter. For example, spring buying in Sacramento starts in January. Meanwhile, spring home buying in Minnesota starts when the snow begins to melt. In most of the country, July and August is a time for vacations. For this reason, the summer months don’t usually come with many home sales.
Before you buy a home, it’s important to understand your local spring home buying season. This allows you to start looking at homes before the season starts. You can get one step over the competition.
2. Don’t Be Hesitant
When there are many buyers in the market, you need to be decisive. If you find a home that you want, then there is no time for contemplation. You need to be willing to buy as soon as you find the right home.
Waiting to buy your home means that someone else might make an offer before you. Then, you could find yourself in a bidding war. The price of your ideal home could skyrocket. You need to be competitive, and that means putting in an offer as soon as possible.
3. Get Pre-Approval
Before the spring home buying season starts, you can get pre-approved for a mortgage. This gives you another step up over the other buyers. When you include your pre-approval letter in your offer, a seller is more likely to take your offer. It shows that you are serious about buying and that you have the finances.
Getting pre-approved is simple. To do so, you need to talk to a local lender or mortgage broker. They can help you get the paperwork that you need. If you want a seller to take you seriously, then you should avoid using an online lender or a lender who is out-of-state.
4. Don’t Worry About the Type of Sale
Often, people focus too much on the buyer than the home. For example, many individuals shy away from buying a home under foreclosure. Likewise, they might exclude short sales from their lists of prospects. However, this can be a mistake. All that matters is the location of your home and that it meets your requirements. If you find a home that works for you, then the type of sale does not matter.
5. Hire a Local Real Estate Agent
One of the biggest mistake that buyers can make is to hire a real estate agent who is not familiar with the desired neighborhood. If you don’t work with a local agent, then it can take a great deal of time to find the right home. Your agent might point you to bad neighborhoods and undesirable locations.
On the other hand, a local agent can find you prospective homes quickly. She might find out about a new home on the market before any other real estate agents. As a result, you could be the first to make an offer on a perfect home. You could beat the rush of buyers.
6. Trust Your Gut
When there are many other buyers in the market, making an offer can seem intimidating. It’s important that you trust your gut and make an offer. Don’t worry about the other buyers or consider waiting. If you find a house that you love, then now is the time to make an offer. Waiting to put in your offer means that you could miss out on your home.
It’s also important that you trust your gut if you’re not sure about a home. If you have serious doubts about a home, then you should avoid putting in an offer. Don’t pressure yourself into settling for a home that you don’t love.
7. Familiarize Yourself With the Area
Before you decide to buy a home, get to know the area. Spend a few nights at a local hotel and explore the neighborhood. When you’re out exploring, talk to the locals. Learn which neighborhoods you love, and which you should avoid. Then, you can find a home in the right area before other buyers find it.