Whether you’re buying or selling, the spring real estate market can be a hectic and fast-paced season. The National Association of Realtors recently conducted a new consumer survey that predicts home values will continue to rise over the course of 2017. After an impressive year for the housing market in 2016, 62% of current homeowners believe it’s a good time to sell. Spring is considered a generally favorable time for both buyers and sellers as the weather improves allowing homes to show well and more frequently, along with an uptick in inventory for buyers to browse.
So, if you’re thinking of listing your home in the spring, what are some things you can do to prepare? As always, first speak with a local realtor about what homes are selling for in your area, what price you’d like to list your home for, and some specific things that may need to be addressed (roof, HVAC, etc.) before listing. Aside from major home repairs, there are several DIY projects that you can do around your house that are low-cost, high-return improvements when it comes time to put your home on the market.
Simple tasks like deep cleaning windows, dusting baseboards, polishing floors, and tidying up around the yard or adding some landscaping can really make a big difference when a buyer visits your home. Other projects such as organizing and de-cluttering each room, replacing light bulbs where needed, and a fresh touch up of paint will help potential buyers envision themselves in their new home and make your house stand out among the others they have seen.
Buying in the spring? Time to do your research and get prepared! Heading into the spring market as a buyer can be an overwhelming experience if you let it. In order to make things easier, start by consulting a recommended local real estate agent and mortgage consultant. Express your desires and concerns honestly so that these professionals can provide you the best service according to your needs. Your lender will run a pre-qualification check to see what price range would fit your budget, share with you the different financing options available to you, and to let you know if there are any credit or financial areas you may need to work on and clean up before you purchase a home.
Once your budget is set, your realtor can then begin a listings search based on the criteria that you have shared with them allowing you to receive information on houses as soon as they come on the market. Searching for a home on your own will most likely be frustrating and confusing as not all information you find online can be deemed reliable or up to date. Be sure to schedule showings with your realtor anytime you see a house that looks appealing and be sure to arrive prepared! If you walk through a home and decide it’s the one for you, your agent can write a purchase contract before you leave the house. The market will become increasingly competitive in the spring, and in some areas houses will sell in less than 48 hours!
Taking these steps to get prepared for the spring housing market will certainly give you an advantage over many other procrastinating buyers or sellers scrambling to figure out what to do last minute. In the long run, it will most likely even earn or save you some extra money, too. The spring real estate season is quickly approaching, so now is the time to start these steps whether you’re buying, selling, or both!