Spring Ahead! The Perfect Time to Buy a Home.

For the first time in 30 years, potential home buyers have the advantage of very low mortgage rates combined with a vast inventory of homes and relatively lower prices. If you've considered becoming a home-owner, or buying another property, you have a great chance to "get ahead" this spring!
By acting now during the spring selling season, buyers have time to find a home, complete the sale and move in by summer. This leaves plenty of time to make changes and fully move yourself into your new abode while the sun is shining. Also, there is still time purchase a vacation or second home and enjoy the summer there.
The most seasoned investors and smart buyers are beginning to realize the perfect combination of low interest and low home prices and are out in the marketplace already! This is one more reason why it's crucial to have a strong team working for you and your best interests to efficiently find you the perfect property.
Get prepared and know your options to make your home buying experience successful.
- Plan a budget and start a fund for your down payment. Although it is possible to get a mortgage with only five percent down (or even less in some cases) you can usually get a better rate and lower overall cost by putting more money down.
- Do your homework to determine how big a mortgage you can afford. Your mortgage lender can assist you with this process or you can do the work yourself with online mortgage calculators.
- Retain a good real estate professional who is experienced, an excellent negotiator and knows the local housing market. A real estate transaction is complicated and is difficult to complete alone. In most cases, buying a home requires completing disclosure forms, inspection reports and mortgage documents as well as getting insurance policies and taking care of many details. Finding someone who can guide you through this process will help avoid delays and costly mistakes.
- Know what kinds of other professionals you will need to make to complete the transaction. Some of these professionals include a home inspector, appraiser, title company expert, tax advisor and various environmental inspectors and specialists.
- Determine your closing costs. From homeowner's and title insurance to well water testing, there are many costs, both large and small, that a homebuyer will be expected to pay at the signing. Your REALTOR and mortgage loan officer can provide an accurate estimate of these costs, so there are no surprises as the transaction approaches a close.
Remember, while it is a perfect time to buy a home, it's important to do things right. We want to ensure that the home buying memories you create this spring are positive ones!