Home Buying Tip – Buying in a Seller’s Market

home buying tip Buying in a Sellers market
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So we heard you could use a home buying tip or two? There’s no time to waste in a seller’s market and starting your home hunt can feel a little daunting. The truth is in this type of market,  finding a new home during low inventory and heaps of competition will require forward thinking and an agent you trust.  Your search will be a balancing act of calculation, patience and creativity. In order to survive the Wild West of home buying we have some tips to guide you through… and don’t worry, you’ve got this!

Follow the steps below to prepare for your search and buy your dream home!

 

Home Buying Tip # 1 : Create Your Home Wants/Needs List

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Getting together a list of top priorities will keep you focused and organized throughout your house hunting, even if you’re a first time home buyer. This home wishlist can guide you through your search of all the homes for sale.   Like number of ideal bedrooms, do you want a detached home or will you go for a town home if it’s in the location you want, how long you want to stay in this home ideally, do you need a big backyard, are schools important to you… etc.. this will help narrow down the field to see what you are looking for. 

Home Buying Tip #2 : Work With The Right Realtor 

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Buying a home in a seller’s market takes persistence and buyers prefer an attentive agent (and so will you!) Finding the right Realtor match will ensure that you are kept up to date on all the homes for sale during your housing search. Interview them before and make sure they know the market and will work hard and move fast to help you. Who you choose to represent you can make or break your home purchase – Looking in San Diego… maybe we can be a good fit for you? Learn about our Team

Home Buying Tip #3 : Get Together Pre-Approval and Funds

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To avoid all chance of heartbreak, get pre approved for a home loan early on! Buying in a seller’s market moves quickly, so having this step out of the way could mean all the difference to your home purchase.  To do an effective home search, you’ll need to know all of your parameters including budget and what you can actually afford on paper. When you find a home and write your offer, you’ll need to show that you are fully pre approved and that you have the cash in the bank for that down payment – make sure you have everything in order to show this. Ask your lender for a letter and ask your Realtor what you need to show “Proof of Funds” with your offer. 

Home Buying Tip #4 : Search For Homes & Preview Potential Winners

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Now that you have home buying help and set some goals, it’s time to see some houses for sale! Keep your wants & needs list in mind and take note of any adjustments that may need to be made to your list as you preview homes. You may have to adapt your list and communicate what you want with your Realtor. You can schedule time to see homes  with your Realtor, they will send you properties and you should also preview any open houses to learn the neighborhoods you are interested in. If you are interested in Encinitas check out homes for sale HERE.

 Home Buying Tip #5 : Write a Strong Offer 

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You found a home you love and now you are fully ready to write an offer! Congrats on making it to this point. Keep your home buying expectations realistic, but you’ll need to put your best foot forward. Your Realtor will guide you through this process.  You can also strengthen your offer by writing a letter to the owners explaining why you want and deserve the home. A family photo or story can set your offer apart from the rest during a seller’s market… being in the industry and seeing offers win out because the buyers showed who they are in a great letter does happen more than you would think … after all we are all human and it could help you edge out the competition if you can make that human connection. 


Now you’re all ready to go! Start today and you may be in your dream home sooner than you thought! 

Is the beach on your wants & needs list? Unsure of where to start? First-time buyer?

Contact us today and we’ll start searching for your perfect home!  Good Luck!

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