Thinking about buying a new home this spring? If so, you should know a few things before you get started. Spring is the typical time for potential home buyers to shop. However, for many, it’s not an option. If you’re the latter, here are a few tips to get you ahead of the pack.
If possible, get a jump start on the competition. Many spring shoppers start their search in late April or early May. Keep in mind that February, March and April are also great times to start looking. Once you factor in inspections, paperwork and closing schedule, you’ll most likely end up moving on-time.
According to a study by Zillow, homes on the market in May sell an average of 18.5 days faster. So, if you find a home you love, make an offer. Remember, many home buyers are competing for the same home for several reasons:
- School year has ended
- Vacation time for moving
- Certain careers have the summer season off—like teaching
- Career change
Beat the Interest Hikes
While the Federal Reserve recently boosted interest rates, mortgages are still fairly low. Plus, if you qualify for a fixed-rate mortgage, you’ll be saving thousands as compared to an adjustable rate.
More Buyers—More Inventory
While there may be more competition viewing homes, there will also be more inventory—at least in early spring. Most homeowners wait until spring to list. So, you may have more to choose from if you start looking fast.
If you’re thinking about purchasing a home this season, check with a licensed realtor. These professionals can help you navigate quickly and often know about homes that are getting ready to list. Plus, realtors work with other agents daily and can use their network to help navigate the best inventory.
For more on this subject read our recent blog “Your Home Inspection Reveals You Need Repairs, Now What?”
Thinking of buying or selling a home in the La Jolla area? As consistent top producers in real estate, Linda Daniels and The Daniels Group are your La Jolla housing specialists. Our team of local experts will ensure that you have a successful real estate transaction. Call us today at (858) 361-5561 or email us anytime by clicking here.