If you would like to buy a home this spring for the first time, you may be nervous. After all, prices have steadily been increasing as home values return, and mortgage rates are predicted to increase. Inventory is lower than average, so bidding wars are more prominent. As your local real estate team, we want you to know that we are here for you!
Just because it’s more of a seller’s market than a buyer’s market, that doesn’t mean now isn’t the time to buy. In fact, the sooner you buy, the better! With prices and rates on the rise, you’re more likely to save money if you buy soon. So, how can you find a starter home in the hot Houston real estate market this spring?
Here are a few tips to get you started:
1. Work with a professional. If you get caught in a bidding war, or the seller negotiates you into a deal that is over your head or over your budget, you may regret your decisions down the road. A professional realtor knows the neighborhood, can help you negotiate, and can make sure you’re comfortable with all agreements before you sign.
2. Get pre-approved. The best way to gain the interest of a seller is to start your home search as a pre-approved buyer. The more you know before setting out on your journey, the better you can search for Houston homes within your means. Once you find one that you love, a seller is more likely to choose you as the buyer if you are already pre-approved! It makes for a much faster process.
3. Be prepared for compromises. Because inventory is lower than average right now, you might not find a home that has everything you hope for, that’s in your price range. Whether it’s price, condition or amenities, compromising is part of the home-buying process. Make a wants vs. needs list to figure out what is absolutely necessary in a house you are looking to buy.
4. Be patient. Buying a house is a process, so mentally prepare yourself for many ups and downs as you search for a home. Don’t get too attached to any home until you know it’s yours. As your local real estate team, we will help your process go as smoothly as possible. Be patient, and don’t give up if you lose out on the first house you try to buy! Stick with it.
5. Write a personal letter. This is one method that could help you win a home over other interested buyers. Write a persona letter directly to the seller on why you fell in love with their home and why you are hoping to make it yours. To sellers, the offers are just numbers and dates on a paper, until you make yourself stand out from the rest!
When ready to buy a home, contact us,. We are here and ready to help you find the perfect starter home or dream home in this hot market.