Planning To Buy a Home This Summer? Here’s What You Need To Know

Planning To Buy a Home This Summer? Here’s What You Need To Know

Summer is always one of the most popular seasons for real estate. But if you’re planning on buying a home this summer, there are a few things you’ll want to keep in mind.

A recent video from realtor.com outlined tips buyers need to know if they’re planning to buy a home this summer—one of the most competitive real estate seasons in recent history—including:

• There are fewer choices—and higher competition. Inventory is at an all-time low in markets across the country. That means there will be fewer homes to choose from—and higher competition for the choices that are available.
• Make sure you have a Pre-Approval Letter from a reputable lender!  Know the difference between a pre-qualification letter and a pre-approval letter.  This will make a BIG difference with the strength of your offer.  Pre-approval letters are a MUST.
• Flexibility is a must. With low inventory and high demand, you may have to be flexible with the conditions of your home purchase—for example, by allowing sellers to stay in the home for a month or two after closing in order for them to secure a new property.
• Make the first offer your best offer. Most sellers are getting multiple offers on their home. So if you’re going to make an offer, make sure to put your best foot forward—and make your initial offer as high as you’re willing to go.

The Takeaway:

Bottom line? If you want to buy a home this summer, you need to be prepared for what’s happening in the market—and these tips will help you position yourself in a way that will increase your chances of successfully finding and buying a home.  We are here to help you with buying a home in Gainesville FL.