If you bought your current home anytime before the last 18 months, let me tell you…things have changed! The sheer competitiveness of the current real estate market means you need to have your ducks in a row when you’re ready to purchase your next home. These are my recommended steps to make sure can move quickly and make compelling offer.
1. Enlist local talent
The first step is to meet with a real estate broker. If you’re looking to move to a new area, you should make sure to pick someone who knows that area. Local expertise is going to give you a huge leg up when you’re looking to buy your next home. If you don’t know anybody who fits that bill, you can do a simple Google search and check out their reviews, to make sure they are a good match for you.
2. Make sure you’re the first to know
Homes are selling really fast right now. So the next thing I do is set my clients up for a listing alert. This ensures you’ll be the first one to know when a new listing hits the market that fits your criteria. Identifing these homes as quickly as possible and booking a visit right away is crucial.
3. Get a head start on financing
Now is the best time to meet with a mortgage specialist. Because in today’s market where home are being sold within days, you need to move very quickly. And getting your pre-approval organized before you start seeing homes helps your mortgage broker move faster and gives you a head start. Your real estate broker can make a recommendation as they have a lot of different mortgage specialists and brokers that they work with, and can refer them to you because they know they get the job done.
4. Build your expertise and confidence
My final suggestion is to see as many houses as possible because you really get a sense of what your money will get you. This is a great step. And that way when the right home does come up, you’re able to act confidently.
In summary, I recommend the following steps to increase the chances of finding your dream home:
- Meet with a real estate broker who knows the area
- Set up an alert to be first to know about new listings
- Secure your mortgage with a pre-approval
- Build your expertise by looking at as many homes as possibel
This is #AskPete. If you have any real estate questions, feel free to send them and I will get you the answers. Or stay up to date on the latest tips for real estate buyers and sellers by clicking the YouTube button below: