The temperatures across the nation are getting warmer, the dark, cold winter is fading away, and the sounds and smells of March Madness are in the air. The changing to the spring season means many folks are coming out of hibernation and looking into one of the hottest housing markets since 2008.
In addition to a housing market in the midst of a major uptick, interest rates are still at all-time lows, and March Madness is about to kick off the start to the summer selling season. Here are some ways you can get ready for the madness and get moving into the housing market.
Start Filling Out Your Bracket
Start by filling out your bracket of possible locations for your new home. If you’re looking to relocate to a suburb or possibly move to a new city all together, start doing your research now and make a list of places to start shopping.
Of course, there are the basics you should look at when determining location such as proximity to work, schools, public transportation, safety, etc, but consider looking at housing-specific factors as well. Do the locations in your bracket retain their home values? Are homes likely to fluctuate in price? What factors are affecting changes to the housing market?
All of these things are worth checking into as you prepare for Housing March Madness.
Build Your Championship Team
Success in the housing tournament is dependent on building a quality team of seasoned veterans around you and your family. Getting a solid team together will make your journey through the Big Dance far more successful than trying to tackle it on your own. If you’re in unfamiliar territory, having the right people around you will help ease your burdens.
Once you’ve determined the locations of your home purchase, shop for a quality realtor with a track record of getting deals done and working for their clients. Start by shopping online, looking at reviews, and getting as much information about a realtor before you meet with them.
Get prequalified for financing and find a qualified mortgage lender. Probably one of the biggest hangups on home purchases is getting financing approved and finalized. If you do the legwork up front, know how much you’re prequalified for, and have the paperwork in motion, you’ll knock this part of buying out of the park.
Be the Favorite, Not the Underdog
No matter how or where you start the search for your home or decide to settle down, take a winning mentality with you everywhere you go. Buying or selling a home is likely to be one of the more stressful events you’ll go through. If this is your first home, don’t worry. Instead, prepare as much as you can, do your research, and take care of as much in the way of planning as you can before you go to the closing table.
Remember to maintain a winner attitude, because the housing market is a revolving door of potential dream homes, and a house you never expected may be waiting on you just around the corner.
Get Started with Financing
We alluded to it earlier in this blog, but getting a head start on your financing is one of the keys to making your real estate transaction fruitful. Start by evaluating your personal finances: find out what you can afford, how much you can borrow, and find the right mortgage solution for you and your family.
Giving Tidewater Mortgage Services a call is a great place to start your home buying journey, and you can get prequalified the day you call. By speaking to a Tidewater professional, you can get help hammering down how much you can borrow and eliminate a great deal of the stress that goes into the buying process. Don’t let March Madness drive you mad! Call Tidewater today to get started with your dream of home ownership.
