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3 Tips for Beating the Spring Home Buying Rush

Posted on: in [ home buyers, Home Buying Process ]

3 Tips for Beating the Spring Home Buying Rush

April showers not only bring May flowers but they can also signify a home buying rush!  Even though people are buying properties year-round, spring is the time where folks get their home buying fever.  In order to buy your dream home before someone else snatches it up, you’ll need to get ahead of the game.  At the Northeast Iowa Regional Board of REALTORS®, we offer these key tips to prepare you for this important step in your life:

1.) Check Your Credit

 Look at your credit report and fix any issues before it can become a potential issue.  By paying off what you can, you can get pre-approval so that the home buying process can continue to flow without hiccups.  Being able to go house hunting knowing you already have pre-approval will greatly speed up the process because you won’t have to backtrack and figure out what you can afford after you’ve already found a home you love.  By preparing your finances, you will have the upper hand in negotiations when you find the perfect property.

 

2.) Learn About the Local Market

Do your homework by looking at areas you’re interested in prior to moving.  Are there any new developments or amenities planned such as a new school or roads?  These will have an impact on the value of the home.  Also, make a list of your needs and figure out a budget that best fits your situation.  Additionally, one of the key resources to finding the perfect neighborhood for your family is securing an agent to help you and we know the perfect ones!  Even if you have already bought a home, you will need to know what changes have occurred in regulations and current market conditions.  This is where speaking to an agent from the Northeast Iowa Regional Board of REALTORS® will come in handy.  Since so many properties are for sale in the spring, this is the perfect time to ask questions and look at several different options.

 

3.) Research the Mortgage Market

Take some time to look into the mortgage market and talk to home loan and finance experts.  Your agent can help connect you with them as well.  The more advice you receive the better choice you will be able to make when it comes to deciding on the right mortgage and interest package along with whether you should go for a fixed or variable loan.  Homeowners should also allow for at least a one percent increase in interest rates.  All of the knowledge you gain from talking to these professionals will help you learn new changes in the market and may assist in negotiating a good deal on a loan. 

Spring is the most advantageous time for you to schedule your relocation, so we hope these tips help you beat the rush!  At the Northeast Iowa Regional Board of REALTORS®, we strive to make your home buying and selling process smoother and more effective.  If you’re interested in getting involved in the home hunt or if you have any other property needs, contact us today.