April 19 2019

5 Useful Tips for Buying a New Home in Spring

by Erin

As the weather is beginning to warm up, so are those home sales. There’s nothing worse than attempting to purchase your first home without prior knowledge of what steps to take. Grab your wish list and use these five tips to help you prepare to buy your new home this spring.

 

1. Get rid of your debt and clean up your credit 

 

The number one thing you need to do in preparation for purchasing your first home is to clear up your debt. You’ll find it much easier to save money toward your new home as you pay down your debt. You’ll also find that you’ll have better buying options with less debt and a better credit rating.

 

2. Make a wish list that’s realistic

 

You probably have a list already made up of all the must-have features and amenities that you just can’t live without in your new house.  The gourmet kitchen and spa-like bathroom you’ve seen on television may not exactly come in your budget or be in the neighborhood you’ve got your eyes set on. Make sure to do your research on both what you can afford and what the areas you’d like to live in have to offer. Think about revising your wish list and compromising in some areas. The home you select may not come with granite countertops or hardwood floors, but you can make it a DIY project and save a few dollars along the way.

 

Man in blue shirt holding a key

3. Hire a licensed real estate agent

 

Whether it’s your first time around searching for a home, or you are in need of an upgrade for your growing family, hiring a licensed real estate agent is always your best bet.  Do your research and find the best realtor for your needs. They are more equipped than you will be when it comes to tackling the hard stuff during the buying process.

 

It is also a plus to hire an agent that is a neighborhood specialist. When you have an idea of the specific area that you would like to move to, an agent that specializes there is truly beneficial when choosing the perfect home for you and your family. 

 

4. Get preapproved by a local lender

 

To ensure that you have a smooth loan process, make it a point to get preapproved by a local lender. Avoid applying for loans with online lenders or lenders outside of your local area. Offers that are received from a local lender will most likely get preference when purchasing a new home. This will also help in having a timely closing and smooth process. Local lenders have a better reputation for closing on time. They will also ensure that they give you the best service because they want you to refer their business to others within the local community.

 

5. Don’t hold off too long on making a bid

 

Making a bid on your first home can be a difficult decision. If you come across the perfect home during your search, try not to hesitate too long to make an offer. Your dream home may not be available for long. Home prices typically begin to rise during the warmer months, so there would be little change of the home you want decreasing in price.

 

As you make the steps to prepare to buy your first home, take these tips into consideration and always do your research as well as seek professional help to ensure that you’re making the best decisions for your investment.  

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