As the flowers bloom and the weather warms, are you one of the many who will consider a home purchase in Austin this spring? With interest rates creeping upward and home prices increasing in our area, 2018 is shaping up to be a unique year in real estate. Let’s take a look at four crucial home buyer tips for the spring 2018 season:
– Prepare for the financial side of a home purchase. Get a jump on the mortgage pre-approval process so that when you find that perfect space, you can write an offer. Make sure that your down payment funds are ready.
– Put as much earnest money down as possible. While it also lowers your monthly mortgage payment, a larger earnest money deposit demonstrates that you’re a serious buyer.
– Act fast. Austin is one of the hottest real estate spots in the country. Be prepared to be in multiple offer situations, and come prepared with your very best offer from the get-go. And, remember, winning a bidding war isn’t always about the money. Think in other attractive terms to the seller, such as a faster closing, willingness to rent the home back to the seller for a short period, a 3-5 day option (also known as an “inspection” period), and a heartfelt letter to the seller.
– Heed the wisdom of your real estate professional. We work in Austin real estate every single day, and we know the ins and outs of neighborhoods, contracts, financing, and so much more. Rely on your favorite real estate professional!
As real estate heats up, you’ll find these spring 2018 home buyer tips handy, but if you have questions about Austin area homes, neighborhoods or real estate, reach out to us anytime. We’re always here for you.
Photo by Wesley Quinn on Unsplash