March 25, 2024 | Buying
If you’ve been waiting for the spring selling season to kick off your home, this busy real estate season has arrived. Many homebuyers are in the market for a new home in the spring because it aligns with the current school year’s end and allows you to settle in a new home over the summer before a new school year begins. The days are longer, and the snow and ice storms are behind you, making it easier to travel to showings. And houses appear more vibrant and brighter, thanks to the greener grass, blooming landscaping and warmer sun.
Prepare to List Your Own Home
If you plan on selling your current home this spring, here are some suggestions to list your home.
• Familiarize yourself with market conditions and local home comparables
• Interview real estate agents and set a price you’re comfortable with
• Make any necessary home repairs
• Declutter the house
• Stage the home and have it professionally photographed
Research Neighborhoods
Often, homebuyers know precisely where they want to live. Other times, the ideal neighbourhood can be a big question mark. Once you’ve narrowed down your perfect area to several neighbourhoods, assess the benefits of each one, taking into consideration:
• Schools
• Commute times
• Nearby public service facilities, healthcare and recreational activities
• If the neighbourhood has a homeowner’s association
• Walkability and proximity to the town’s downtown area
• The age of the neighborhood
Understand the Market Conditions
The real estate market is ever-changing, so familiarize yourself with the local market conditions for the areas where you’re looking.
• Home comparables, to find out what similar homes you’re looking at have sold for
• How long homes are on the market
• If the homes are selling above asking price
Be Familiar With the Taxes
Knowing how much the taxes are for the areas where you’re home searching can prevent any surprises and disappointment after you fall in love with a home and learn how much the taxes are later. While the taxes fluctuate by home, you should have a general sense of the taxes for an area before you begin your search.
Get Your Financial House in Order
Whether you’re financing your purchase with a mortgage or paying all cash, you’ll need to have your financial house in order before you begin your search. Begin by determining how much you can afford and how much you want to pay, as those two numbers may differ. Cash buyers should consult with their financial advisor before making an all-cash purchase, and buyers who will be financing the house with a mortgage should meet with their lender and get a pre-approval letter.
Assemble Your Team
Working with a strong team of professionals can help you find the home of your dreams at a comfortable price. Working with our team, we provide local knowledge and experience which will create creative and competitive offers, to help make your offers stand out. Additional professionals to have on your homebuying team are a mortgage broker, home inspector and real estate lawyer – all of whom we can help recommend!