Are you looking to buy a home in 2021 or 2022? It might seem like a daunting prospect at the moment as prices have skyrocketed and competition amongst buyers is strong. It’s a seller’s market and it may feel impossible to make the winning offer, especially if you’re stretching your budget.
However, there are ways to get ahead of the crowd so you can find your dream home and purchase it this summer. Here are some tips to get you started:
Make friends with real estate agents
The first and most important step is to make contact with professional real estate agents in your area. They are on your side as much as they are on the side of the seller and want to create a win/win situation so everyone walks away happy.
Sellers want a smooth sale and agents want to make it happen for them. When you get to know a few agents and tell them what you’re after, they will keep you in mind when new listings come onto the market. You may even be able to get in ahead of an advertised open home and have the chance to make an early offer to a seller who is in a hurry to move on.
Be real with your agent
Once you have made some good contacts, make sure you communicate. Let them know what you want and listen to what they have to say in advance. They need to know what you’re looking for so they can notify you about suitable homes and not waste your time by recommending homes that are outside of your budget.
Don’t be afraid to keep in touch with your agent. Follow them on social media and pick up the phone to stay informed about what’s happening in the area where you want to buy.
Widen your network
Online sources like local Facebook groups can provide a wealth of information when you’re in the market to buy. You never know, you may even find a home for private sale by reaching out and simply asking a few questions. Be careful though, as private sales can be risky if you’re not an experienced negotiator. Make sure you get advice from a professional before you buy a home through a private connection.
You could also consider using a buyer’s agent. This property expert will go into bat for you when you are buying a home and make sure everything is above board. They do the leg work and will negotiate on your behalf. Buyer’s agents do charge a fee for their services so you will need to work that into your budget.
Get your finances in order
As well as finding a good agent, getting pre-approval for your home loan from a lender is probably the best piece of advice to put you ahead when you’re shopping for a place to live.
Coming in with your loan pre-approved makes you a desirable buyer as it streamlines the process and makes it easier for everyone involved. This is especially important as we enter the festive season. Plenty of lenders will be on holiday in January and getting approval will be slower than usual. If you have pre-approval you can make an offer with confidence and beat out other buyers who don’t have everything in order.
Pace yourself, gather a team of professionals around you and you’ll be better placed to be the winning bidder this summer.
