Getting ready to buy a home can take time and effort. With so many decisions to consider and the constant bombardment of misinformation about the housing market, it’s understandable why so many potential buyers often feel overwhelmed and, many times, just abandon the process and resign a new lease. Don’t be that person! This year is a prime year to get into homeownership for many reasons, and we can help.

This spring season, don’t let the high demand of the residential real estate market cause you stress or prevent you from landing your dream home.

Here are five tips to help you navigate the home-buying process:

Tip #1: Get Pre-Approved

It is essential to get pre-approved before actually doing any shopping. Why? You wouldn’t go Christmas shopping without knowing your budget, would you? You need to know your budget (how much house you can comfortably afford) before you begin shopping. This is especially true during busier times like springtime when homes tend to move faster than usual.

A mortgage professional can give you an idea of how much house you can afford before diving into negotiations with sellers. This will also provide sellers more confidence in your offer since they won’t have to worry about financing falling through later down the line. In fact, in most cases, the seller’s agent will not even engage with you or your agent if you are not pre-approved.

Tip #2: Work With Real Estate Agent Early On

A real estate agent will be an invaluable resource throughout every step of the buying process. They have quick access to listings before they hit major online listings, and they can also explain how the bidding process works.

Agents are true professionals that bring a wealth of experience to the process and will guide you through the experience. They will work closely with you, asking you questions that help them guide them and you toward listings that should make you happy in the end.

Tip #3: Prioritize Your Needs

Before you start shopping, it’s important to know what your priorities are in terms of location, size, and amenities. Create a checklist that ranks these criteria in order of importance, and keep it handy when you begin looking at properties.

That way, if there’s something in particular that is non-negotiable for you and your family, you can quickly determine whether or not a given property meets those requirements without having to go through all its features one by one.

Tip #4: Know Your Numbers

Knowing your numbers is vital in the home buying process—not just in terms of budgeting but also understanding estimated monthly payments, private mortgage insurance payments (if applicable), taxes, etc.

A mortgage professional will be able to walk you through calculations so that you can figure out those numbers accurately and confidently going into negotiations with sellers.

If you do make an offer on a home and are hoping to fast-track the process once it has been accepted, make sure all your paperwork is ready ahead of time—this includes identification documents such as driver’s license or passport, W2s, pay stubs; bank statements; etc.

Once your offer is accepted, things move quickly! Having all your documents ready means less paperwork for both parties involved which makes for smoother transactions overall!

The spring season is traditionally busy for the residential real estate market, so make sure these five tips help guide you through this exciting journey toward becoming a homeowner! Good luck!

Tip#5: Start Early

The best time to plant a shade tree was ten years ago.

The best time to begin planning to purchase your first or move-up home is six months to a year before you would like to move. That may seem like a long time, but in reality, there are many moving parts to these transactions, and it takes planning to make it happen. No doubt you have a busy life. The last thing we want for you is a stressful transaction by trying to prepare you for homeownership if you are not ready in a short window of time. Let us help you plan. Reach out early so we can help you.

These are just some of the items that can complicate a transaction and must be planned for:

• Credit score/repair issues
• Saving for Down Payment
• Finding the Right Home
• Timing a move around a lease expiring
• Switching Employment

We will help you navigate these challenges and more to help prepare you for homeownership.

Nothing in life happens without a plan.

*Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.