Are you prepared to buy a house this spring?
5 Tips for the Spring Home Buying Season
It's the second week of SPRING! If you're preparing to buy a home this spring or summer, you may want to consider these 5 things, to MAKE SURE you're fully prepared as a buyer. Especially in the Seattle market, if just one of these tips are overlooked, it could cost you losing out on a house you love...
START SAVING MONEY
- This is big! You don't want to be house rich and cash poor.
- Think about your downpayment AND closing costs. Typically as a buyer, you'll owe anywhere from 2-5% of the home in fees. Prepare for it!
- Plus, don't you want to still buy furniture? Moving expenses? Etc.
- On top of this-- you want to STILL HAVE A LIFE!
- Make sure you're financially prepared.
FIND A LENDER AND GET PRE APPROVED/UNDERWRITTEN
- Your offer won't even be looked at if you're not pre approved or pre underwritten.
- Choose a lender, figure out what program works for you, and get the pre approval/underwritten letter. Find a lender that has a GOOD track record of closing and closing on time!
- This will help gauge how much you can afford AND ensure you're fully prepared in this market.
- My advice, don't get excited or even begin searching until you have this conversation and letter.
CHOOSE A REALTOR
Find a full time realtor that has your best interest as a client.
Ask for references, post to social media, and meet with a few!
Especially in the Seattle market, it's paramount to have someone that can move quickly, is full time, and also has a track record of WINNING in competitive situations.
UNDERSTAND THE MARKET
Huge. What I do for my first time buyers is help build their gut -- see houses with no intention to write an offer, understand what you can get for your money, etc.
Seattle especially -- it's HOT! You need to act FAST.
You may need to waive contingencies... But how can you do this comfortably? Your realtor can guide you.
It's a hot hot market, especially in a sellers market like Seattle.
It's easy to get discouraged and even buyers fatigue!
Hang in there, as more inventory is coming. Spring and Summer are the best times, with the best options.
Are you thinking about starting your home buying journey? Reach out, we can help you.