Happy March! Spring is just around the corner, and so is the peak real estate season in Central Florida!
Last month we talked about ways to start preparing to sell a home. This month, we’re going to focus on what potential buyers should be doing now to prepare to purchase a home this summer.
Here are our 3 best tips to start getting ready now for your future purchase:
1. Organize Your Finances: This is the most important step. You can’t buy a home if you cannot qualify for a loan. We can recommend reputable local lenders that will provide the right guidance. You may need to save more money, increase your credit score, or improve your debt-to-income ratio. Do not make large purchases at this time. Be proactive about this, have a plan and goal before you start looking at homes.
2. Review Your Current Lease: If you are currently renting, make sure you understand your rental lease. Know when it ends so you can try to time your purchase properly. If you need to break your lease early, make sure you have a clear agreement with the landlord first and know how much it will cost.
3. Prioritize What You Want: In the current low-inventory market, you may not get everything you are looking for in a home. We will explore areas and home features with you based on your needs, budget, and preferences. But it’s good to think about your priorities in a home. This means knowing what you are willing to sacrifice if a 100% match isn’t available. This is personal and different for every buyer. For some, the location is paramount. For others, certain home features, such as a pool, is a must. Knowing your priorities allows flexibility in your home search and may help you achieve success earlier!
If you have questions or would like personalized guidance, we are always here to help!
Until next time, take care!