Deborah Deschamps' Blog
Want to purchase a home? Spring may prove to be a great time to acquire your dream residence.
Many home sellers add their properties to the spring real estate market annually. Meanwhile, homebuyers can browse a large selection of houses in spring and move closer to transforming their homeownership dream into a reality.
What does it take to secure a home in spring? Here are three tips that spring homebuyers need to know.
1. Browse the Housing Market Closely
Although many homes will be available in spring, it is important to find a residence that matches your budget and lifestyle perfectly. Thus, you'll want to browse the housing market closely and search for a property that you can enjoy for years to come.
Purchasing a house is a major decision, and as such, you'll want to allocate substantial time and resources to find a home in spring. Evaluating online home listings is ideal, and you should find out how long a home has been available, the home's age and other home information before you submit an offer on a residence.
Spring remains a popular season for open houses as well. Therefore, you may want to visit a residence to get an up-close look at a property and determine whether it fulfills your needs.
2. Submit a Competitive Offer
When it comes to submitting an offer on a home in spring, you should try to put your best foot forward.
Ultimately, submitting a competitive offer is paramount for a homebuyer. If you submit an offer that matches a home seller's needs, you can accelerate the homebuying process. On the other hand, a homebuyer who submits a "lowball" offer on a residence could miss out on a golden opportunity to acquire his or her dream residence.
Conduct plenty of research before you submit an offer on a house. By doing so, you'll be able to provide a proposal that corresponds to your budget and a home seller's expectations.
3. Work with a Real Estate Agent
The spring real estate market may be tough to navigate alone due in part to the sheer volume of properties that is available. Lucky for you, real estate agents can help you overcome any obstacles along the way and ensure that you can purchase your dream home quickly.
Hiring an experienced real estate agent can make a world of difference for a homebuyer. This real estate professional can keep you informed about new homes in your area and help you handle negotiations with a home seller. Plus, your real estate agent is always happy to respond to your homebuying queries and will do everything possible to streamline the process of purchasing a residence.
With a friendly real estate agent at your side, you can explore a wide assortment of high-quality houses and find a terrific residence in spring. Employ a real estate agent to minimize guesswork as you search for a home in spring, and you can discover your dream home in no time at all.
For many individuals, the homebuying journey often begins with getting pre-approved for a mortgage. Because if a buyer has a mortgage, he or she can enter the real estate market with a budget in hand.
Ultimately, there are many signs that now may be the perfect time to apply for a mortgage, and these include:
1. You're ready to upgrade from an apartment to a home.
If you're tired of paying monthly rent for an apartment, purchasing a house offers a viable alternative. And if you get pre-approved for a mortgage, you can move one step closer to moving from an apartment to a house.
In most instances, a home offers a significant upgrade over an apartment. Many residences are available in cities and towns nationwide that offer more space than apartments. Plus, as a homeowner, you won't have to worry about dealing with a landlord.
2. You feel good about your credit score.
If you have a strong credit score, you likely are a great candidate for a mortgage. In fact, you may be better equipped than others to get a favorable interest rate on the mortgage of your choice.
Understanding your credit score is a key part of the homebuying journey. You can request a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Then, once you find out your credit score, you can determine whether you are in good shape to pursue a mortgage.
3. A buyer's market is in place.
In a buyer's market, there usually is an abundance of top-notch houses and a shortage of buyers. This means a homebuyer may be able to get a wonderful deal on a house, especially if he or she performs a comprehensive house search.
To find out whether a buyer's market is in place, you should check out the prices of recently sold houses in your area. Also, you may want to find out how long recently sold houses were listed before they sold. By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and decide whether now is the right time to apply for a mortgage.
If you're interested in getting a mortgage and starting a house search, you may want to hire a real estate agent too. Because if you have a real estate agent at your side, you can receive extensive support at each stage of the property buying journey.
A real estate agent will teach you everything you need to know about pursuing a house. He or she will offer insights into the local housing market and ensure that you can conduct a successful house search. And if you ever have concerns or questions along the way, a real estate agent is ready to respond to them.
Want to launch a home search? Get pre-approved for a mortgage, and you can take the first step to acquire your ideal residence.
Ready to purchase a condo? No worries, as there are many terrific condos available in cities and towns nationwide.
As a condo buyer, you'll want to do everything possible to ensure you can buy a top-notch property quickly and effortlessly. Lucky for you, we're here to help you streamline the process of acquiring your dream condo.
Now, let's take a look at three tips to help you simplify the condo buying process.
1. Know What You Want Out of the Perfect Condo
Are you looking for a condo in a small town or a big city? Do you want a condo that features a community swimming pool, tennis courts and other deluxe amenities? And how close is a condo to your workplace? These are just some of the questions that you'll want to consider before you kick off your condo search.
An informed condo buyer will know exactly what to look for in the perfect condo. As a result, this condo buyer may be better equipped than others to accelerate his or her property search.
2. Understand Your Price Range
You know that you want to buy a first-rate condo, but what can you afford? With a condo buying budget in hand, you'll be able to estimate your monthly property expenses and plan accordingly.
Getting pre-approved for a mortgage may prove to be a great idea. If you meet with several banks and credit unions, you'll be able to learn about all of the mortgage options at your disposal. Then, you can select a mortgage that will enable you to establish a price range for your condo search.
In addition, don't forget to consider any homeowners' association (HOA) fees before you choose a condo. HOA fees cover property maintenance costs and will vary depending on the condo community. Therefore, if you fail to account for these fees before you purchase a condo, they may cause you to exceed your monthly budget.
3. Work with a Real Estate Agent
Take the risk out of finding a condo that meets or exceeds your expectations by working with a real estate agent – you'll be glad you did.
A real estate agent with condo experience understands what it takes to speed up the search for the perfect property. This real estate professional will go above and beyond the call of duty to help you find a property that you can enjoy for years to come.
Typically, a real estate agent will set up condo showings and keep you up to date about open houses. He or she also will help you submit offers on condos and negotiate with condo sellers on your behalf, ensuring you can manage any challenges during the condo buying process.
A real estate agent will even respond to any condo buying concerns and queries. That way, you can receive expert guidance as you navigate the process of going from condo buyer to condo owner.
Use the aforementioned condo buying tips, and you should have no trouble securing an amazing condo in the near future.
If you’re hunting for a new home, it can be tempting to make an appointment to view as many as possible. However, it can be a better use of your time to narrow down the search beforehand and eliminate houses from your list based on some at-home research. That way you can use those extra hours for fine-tuning your home search and make sure you visit only the houses that will suit your every need.
In this article, we’ll teach you some ways to research a home, neighborhood and town before you take the time to visit.
Things to Research about Your Potential New Neighborhood
So you’ve found a listing that looks nice. Your next step should be to find out as much as possible about the area the home is in to make sure it suits your needs.
A good first step is to head over to Google Maps to find out which amenities are in the area. Schools, banks, grocery stores, restaurants, hospitals, parks… the list goes on. This is also a good time to map out how long it will take you on average to drive to work from this house and to see if it will lead you through any high-traffic areas that might affect your daily schedule.
You can also research other homes in the area to see if the house is selling higher or lower than average. This will give you a question to ask the real estate agent if you choose to reach out for further information.
Another step to take on Google for this home is to look up statistics for things like neighborhood crime, ratings for the school district, and the state of local businesses.
Is the area up-and-coming with healthy businesses and low crime? If so, it could be worth pursuing further.
If you’re planning on having children or already do, the quality of the education could be of importance to you.
Finally, get an idea of the local tax rates so you know how much you’ll owe the government for your property and excise taxes.
Researching the house itself
If you’re comfortable with the town and neighborhood, there’s still some research you can do online before you schedule a showing.
See if you can find out if the house belongs to a homeowner’s association. Look up their rules and fees to see if they’re agreeable to you and your family’s lifestyle and plans for the future.
Look up the sale history for the home. If there are several recent sales, this could be a sign of problems with the home or neighborhood. Similarly, if the price has increased or decreased dramatically more than nearby houses, consider asking the real estate agent why this is.
Finally, see if you can view the number of days the home has been on on the market, commonly abbreviated as “DOM.” This will give you some insight as to how desirable the home and neighborhood are.
Once you have all of the information at your disposal, you’ll be in a position to decide whether or not to schedule an appointment to view the home.