Spring homebuying season is in full bloom. The market is competitive as demand for homes is high and we haven’t seen inventory rise to match it just yet. Buyers will have to move quickly and be prepared to make an offer. What can you do to make the most of your spring home buying process? Try these tips.
Go house hunting rain or shine
Although looking at houses on a nice, sunny day sounds ideal, touring homes on a rainy day can have its own set of benefits. For instance, check the basement for any water that may be seeping in from a heavy rain. It’s also a good opportunity to make sure the gutters function properly and that there aren’t any leaks on the windows and roof. Just make sure to take your umbrella.
Consider your options
Whether you find something move-in ready or plan to build from the ground up, there’s a loan option to help. With choices available for those who need options when it comes to down payment or those who have a lower credit score, having various loans to select from makes homeownership possible for more people. PrimeLending® offers loan options for almost every financial situation. We can even help you secure a new construction loan to build the home of your dreams.
Prepare to make an offer
One way to stand out from other buyers is by being prepared to make an offer the same day you tour the home you want to buy. This home affordability calculator can give you an idea of how much home you can afford. Take it a step further and make a confident offer by getting preapproved*. When you get preapproved for a mortgage with PrimeLending you can assure sellers that you have the financing to back up your offer.
Modernize a fixer-upper
In a tight housing market, affordable homes may get overlooked because they need to be repaired or modernized. If you’re willing to put in the work (or pay someone else to) purchasing a fixer-upper can help you afford a home and make it just the way you want. Renovation loans through PrimeLending help homebuyers make necessary and cosmetic updates to their homes.
Become a non-traditional homebuyer
Many times people hear “homeowner” and think they have to have a big, standalone home. However, going the non-traditional route can offer a more affordable way to own a home. Condos and townhomes offer just as much modernism as a single-family home but at a lower price point. For buyers who are looking to downsize or are new to homebuying and want to start small, condos and townhomes are a step in the right direction.
Whether you are looking for your first home or are searching for a new one, PrimeLending can help finance the right property for you. Our process makes it simple from application time to closing day. Get started with a PrimeLending loan officer in your community today.
*All loans subject to credit approval and identification of acceptable property. Conditions and restrictions may apply.