Buying a home this spring? The time to start is now.
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With the busy holiday season finally over, our attention along the Gulf Coast turns to Mardi Gras, warmer weather and all things outside!
The housing market also starts to heat up, so if you are planning to buy a new home, it’s a great time to get started.
Regardless of where you are looking to buy, here are some reasons to get started NOW rather than waiting until the last minute:
Property Listings Hit the Market Quickly
The holidays tend to be a busy time for people who are focused on spending time with family. This is the reason many potential sellers wait until winter is almost over before listing their homes.
As the weather gets warmer, people start house shopping.
Market data from a number of sources confirms that March is when home inventories start to increase
More inventory means there’s a better chance that you will find a home that fits your family’s needs, so get ready with a pre-qualification early on in the process.
If you currently own a home and are planning to sell yours as part of moving into a new home, this is the time to prepare it for listing.
Increased Competition For Homes
The coming of spring brings buyers like you out looking for homes too. You won’t be alone!
Increased competition could mean sellers get closer to their asking price. And, it’s not uncommon for desirable houses to sell within days of hitting the market.
What does that mean for you?
In short - you need to be ready.
No matter what, sellers take pre-qualified buyers more seriously.
There’s always a chance you may find yourself in a bidding war with other buyers for the same house.
Get Pre-Qualified Right Away!
Nothing beats a pre-qualification from Gulf Coast Home Loans when you’re ready to shop for a home!
Scheduling a consultation with a loan officer near you is a great first step!
Our team will help you understand your home loan options and discuss important factors including:
- Potential equity in your home that you’re selling
- Down payment options, especially if you’re a first time homebuyer
- Your credit & income
- Interest Rate options
- Taxes & insurance in different areas where you may be looking
No matter what, having a pre-qualification increases the chances your offer will be considered by a seller in a competitive spring market.
Be Ready To Move (Literally)
You wouldn’t expect your favorite sports team to show up for opening day without training. So don’t go shopping for a home without getting pre-qualified first!
The sense of urgency for buyers & sellers escalates as we head into spring.
Don’t make the mistake of finding the home you really want only to find out later the sellers accepted an offer from someone who was more prepared than you!
Gulf Coast Home Loans has offices in metro New Orleans & Baton Rouge as well as Tennessee, Texas & Florida. Click here to find a branch location near you!