If you are thinking about buying a home this year, you may not want to wait until May or June this summer to get out there and start looking! The spring home buying season has already begun. Here are some of the advantages to starting in spring.
It’s a great time to apply for a home loan. Mortgage rates have remained low, and lenders aren’t as busy as they will be during the summer months. They will be able to move through the process faster as a result. Take the time now to contact a reputable lender and complete the necessary steps to get pre-approved for a home loan. Getting pre-approved will let you know how much house you can afford before you start looking. You’ll also be able to make an offer when you find the right home. Sellers often won’t take an offer seriously unless the home buyer has been pre-approved.
You won’t have as much competition. By starting your home search in spring, you’ll have less competition from other home buyers who are waiting until summer to start. Many sellers are getting their properties ready for sale right now and plan to put them on the market in the coming weeks. Giving you the first pick at the perfect home.
In terms of inventory, this could be the best spring home buying season in years. The number of available homes for sale nationwide has increased from last year for each of the last several months according to data from the National Association of Realtors. That’s great news for home buyers! For much of the past two years, buyers have had to cope with an extremely low inventory of homes for sale. This year, buyers in most areas of the country will have more choices of available properties. So you have a better chance of finding the house of your dreams. Happy house hunting!