Whether you’re planning to buy or sell this year, there are some real estate resolutions that buyers and sellers can, and should make. Here are a few to consider:
Buyers: Clean your Financial House and get it in order. Planning to buy a home takes time and effort. Plan to meet with a Mortgage Broker early in the new year. Know your credit score, and any potential credit issues that might make getting a loan difficult. Knowing in advance will give you time to correct any problems or to know what you’re facing. Your Real Estate Agent should be able to recommend a local Mortgage Professional.
Sellers: Your home is a product. Start now clearing out the clutter by donating or getting rid of the things you no longer need. Consult with your Real Estate Agent and come up with a list of improvements that need to be made. Start getting bids now to help spread out the cost of the repairs or upgrades.
Buyers: Start Early. A buyer needs a couple of months to learn and research the market and understand home values in the area they are interested in. Your Agent will most likely show you a number of houses before you make your first offer, and you may make several offers before getting a contract on your dream home. Being an informed buyer by doing research prior to starting your search will help this process move more quickly and help you to make a decision faster, which could be very important if inventory is low and houses aren’t staying on the market long.
Sellers: Know your exit strategy. Planning to purchase while trying to sell at the same time can be tricky and stressful for any seller. A few things you need to be able to answer- Can you afford to close on the new home before selling? And if so, for how long? Do you need to sell the property first? If so, will the potential sale price support a home purchase in the neighborhood you want to be in? If not, what other areas should you be looking in? Is short term housing an option? Can you afford to purchase, then sell? What can you be doing in your current home to insure a quick sell once you close on your new home. Lots of questions and having a plan in place ahead of time will help make the process less stressful for you and your family.
Buyer and Sellers: Hire an Agent now. Hiring a real estate agent early in the process will allow you to have an expert on hand as you start to putting your plan together. A good real estate agent doesn’t just show and sell homes: They can be your strategic adviser, even well in advance of any actual transaction. Thanks to their years of experience and market knowledge, a Realtor’s opinions, thoughts and ideas can save you a lot of time and money.
Thank you to our site sponsors, Sophia Leece and Scott Boudreaux with LAH Real Estate. For more information on what’s happening in the Birmingham Housing Market, or to schedule a free home buyer/seller consultation, you can reach them:
Sophia Leece, 205.895.9120 | sleece@lahrealestate.com
Scott Boudreaux, 205.835.9787 | sboudreaux@lahrealestate.com
