There’s no denying that winters in Edmonton are long, and when spring comes around there’s an energy and excitement in the air that just can’t be beat. The real estate market also revs up in the spring and in order to take full advantage of it and get that home you’ve been dreaming of, you’ve got to be prepared.
Even though there are more listings to choose from in the spring, there are also a lot of serious buyers and the competition can get fierce. I’ve outlined 5 of the most important tips to help you get a jump start on the spring housing market.
1. Are you ready to move?
Although it’s fun to “see what’s out there” when it comes to looking at homes, many people find that they aren’t actually ready to buy. This may be due to financial limitations or because of personal circumstances, health issues, concerns about moving the kids’ schools, or simply that life is too busy to pack up and move at the moment.
2. Do you know what you want?
Knowing your ‘must haves’ for your future home is critical to being able to move quickly in a hot housing market. If you ponder over a home too long, others will swoop in and put an offer in.
3. Are you pre-approved?
Getting your mortgage pre-approved is an important step for any serious home-buyer. Your mortgage broker will assess your finances and let you know how much house you can afford. Further, your pre-approval helps you best compete in a busy housing market.
4. Is your down payment ready to go?
Knowing how much of a down payment you need as well as the various options for your down payment is a critical step to buying a home, especially if you’re a first-time home buyer. Be sure to talk to your broker about your options and make sure your money is easily accessible.
5. Do you have a trusted Realtor?
If you’re serious about the spring housing market and understand the potential for heavy competition, then you’ll want to work with a trusted Realtor who knows exactly what you want and will negotiate for you when the time comes. A good Realtor doesn’t just help you find your dream home, they are there of alert you to potential concerns and get that offer on the table, as well as explain the entire home buying process.
This season, get a jump on the hot spring housing market – it’s a great time for buyers and sellers in our region! Before you start house hunting, be sure to connect with me. It’s my job to help get you financially ready to buy that home. If you don’t think you are ready to buy a home just yet, I’ll help you create a financial plan so you can save up, consolidate debt, or improve that credit rating.
Tatum Neufeld, BComm
Mortgage Broker • Mortgage Tailors