Hello everyone, Welcome to my October blog post (I'm a little late but better late than never).
I want to take a little time today to talk about buyer’s tips, more specifically financing and how it plays a role in buying a home. Financing is the number one complication for my clients in buying a home. Even if you do the math and think that you can afford the house, the bank may have a different story. That is why pre approval is so important to do before going out looking at homes. It will save the time of not only yourself but also the realtor that you are working with, the listing agent, and the seller. One important thing to remember is even though you are pre-approved up to a certain amount it doesn’t mean that you will be approved for every house in that price range, so make sure that you or your realtor lets your mortgage broker know what property you are interested as soon as you find it that way the process will complete much sooner and avoid the last minute rush. Also just because the bank tells you that you are approved to a certain amount does not mean that you should only look at that price point, you may find a home for less than your pre approval allows and still be comfortable, I know your wallet will be happy. Remember, financial complication may arise even after you are approved leaving you at risk, this is a great reason why you should work with a realtor who can recommend a mortgage specialist who is experienced.
That is all for now on buyers tips.
As you can see in the graph below, we are starting our decent of sales for the year in the month of October. This is normal due to the change in weather. If you are trying to sell your home you will notice a drop in showings during this time. If you are buying you may be in luck! Sellers may become more desperate to sell during this time of year and you will have less competition with other buyers. Another upside to buying a home this time of year is if you look at a house in the pouring rain and fall in love, you know you will love it even more in the summer. The rain and cold weather will also show defects in the house and yard that you wouldn’t notice in the summer, ie; water pooling in the yard and cold drafts coming through the walls or windows.
That is all for now. If you would like to leave a comment or would like to talk to me in person, feel free to hit the contact me button in the upper right had corner of this page. Stay tuned for next month’s update!