July 20, 2016 1:13 am
(BPT)—Homebuyers traditionally face competition at the height of real estate season. Now, with market indicators reaching record post-recession milestones, competition is stiffer than ever.
To gain an edge as a buyer, real estate professionals advise:
Getting Pre-Approved – Getting pre-approved for financing will give you significant leverage in negotiations with the seller—and knowing exactly what you can afford will keep you on track if a bidding war ensues.
Thinking Long-Term – As a homebuyer, your decision regarding which home to purchase should align with your future expectations. Planning to grow your family? Consider a larger house in need of work instead of a completely updated two-bedroom bungalow. Looking to downsize? Consider purchasing a ranch home without stairs.
Researching the Neighborhood – Researching areas in advance can save you time spent hunting for houses that do not suit your needs. Do you need easy access to commuter rail and bus lines? Where will your children attend school? These factors, and more, will influence your home-buying decision.
Keep in mind that in addition to these tips, the best ally in a competitive market is a real estate professional. If you’re ready to purchase a home, contact your local real estate agent for guidance.
Published with permission from RISMedia.