Even in a buyer's market with plenty of affordable houses with little competition, buying a home is a stressful endeavor. This stress is amplified in today's market, where prices remain high and scant inventory leads to bidding wars. You can quickly become emotionally drained between finding a home that suits your needs and navigating a grueling loan approval process. Our REALTORS® can take some of the strain off your shoulders, but it's just as important to arm yourself with information to avoid buyer burnout.
Read on for some tips and tricks on navigating what can be both a stressful and joyful journey.
- Get Preapproval
Nothing is worse than finding your dream home, making a great offer to the seller, and losing out because you weren't preapproved. Getting preapproval comes with several advantages:
- You'll find out how much house you can actually afford, allowing you to limit your search to homes within your price range
- You get to stand out in a competitive market as sellers are likely to take your offer more seriously
- You have better bargaining power with a preapproval letter in hand
A great deal of homebuyer burnout comes from being outbid plus an extended closing process. Such issues are minimized when you have mortgage preapproval, which takes some of the pressure off buying a home.
- Lean On Your Real Estate Agent
The right real estate agent can help you deal with the stress of buying a house. They'll guide you through the process with an unbiased eye so you can find a home that suits you while staying within budget. The key is to partner with a reliable real estate agent experienced in your local market.
Ensuring your real estate agent understands your needs allows you to limit the number of walkthroughs. They're there to make buying a home easier and faster. So, communicate often with your agent so they can guide you through the rollercoaster ride.
- Make a Plan
When's the most popular day to debut new listings? You want to be quick with an offer, so it's important to be prepared and incorporate some flexibility into your schedule. In today's ultra-competitive real estate market, it's imperative to be as prepared as possible when you start househunting.
Seeing a house is no small venture. You have to be aware of the red flags and spend time scrutinizing the property. Finding your dream home shouldn't feel like a chore. It has to be a fun process, and that's precisely why you should plan out every aspect of the process.
- Identify Your Non-negotiables as Early as Possible
You can't possibly fall in love with every house. That's why it's crucial to note down your priorities and determine what features are important to you and your family. Some factors to consider include the house's location, neighborhood features such as a good school or park, the number of bedrooms and bathrooms, and the kitchen layout.
More importantly, you have to know what you're willing to spend on the house, which is why you should get preapproved before househunting. And on the plus side, your agent will appreciate the clarity.
- Get Your Money Right
For some buyers, the age and style of the home are non-negotiable. If you want an older home, you must also factor in repair and home improvement costs. In addition to your down payment, you'll also have to plan for closing costs, appraisals, and even inspections.
That said, you should be prepared to negotiate. Here's another place where finding an experienced agent comes in handy. They're on your side, so it's their job to get you the best deal possible.
Partner with Haring Realty
Hoping to grab one of these Mansfield and Ashland homes for sale? We're here to help you out, no matter how daunting the home purchasing process seems to be.
Contact us to connect with an experienced real estate agent and start your homebuying adventure.