February 20, 2014 / By Trusst Builder Group
Just like the wildflowers that poke through the soil at the start of springtime, so do the homebuyers that awake after a long winter’s slumber. In the real estate business, it is no surprise that sales drop off during the colder months, but once spring arrives, the buying competition really starts heating up.
While this increased demand is good news for Trusst’s custom builders, for those considering buying a home in the spring, the competitive nature of the season can be cause for some frustration. Here, we provide you with some spring home buying tips to help take the stress out of the equation.
How Long Does the Spring Buying Season Last?
In Wilmington NC, the spring home buying season starts earlier than it does elsewhere in the country because our winter season is brief. While spring runs from April to June for most of the country, in North Carolina, the springtime buying season starts as early as late February/early March and lasts until June. The reason it ends in June (and the reason for springtime’s buying frenzy) is because most Americans take their vacations in the summer months of July and August, so they usually want to be in their new homes by that time.
How to Get the Home You Want
If you wait until spring to start looking for a new home, then you have to be prepared to battle because odds are you aren’t going to be the only one interested in the property. This means that you need to know what you want in your new home before you even begin your search.
Make a list of your must-haves so you can narrow your searches for more accurate results. The more accurate your search results are, the quicker you make a decision and the faster you will be able to make an offer. When you find the right property, make an offer as soon as possible.
Don’t get caught up worrying about homes that are in foreclosure or in short sale. If the home meets your family’s needs, make an offer. When buying in the spring, it becomes more important to focus on the home and not the owner.
How to Improve Your Buying Odds
Shopping for a home in spring means that you have to make your offer as attractive as possible to the seller because they will be comparing your offer with others. You can improve your odds by getting pre-approved for a mortgage from a local bank or lender. Avoid applying for pre-approvals online as you may get approved by a lender that is out of state. When it comes to picking an offer, the seller (and their agent) will usually place offers from those with pre-approved mortgages from local lenders at the top of the list.
Ask your agent for any suggestions to make your offer as attractive as possible. This can be anything from giving the sellers an extra day or two to move out or to taking on the cost of a necessary repair.
Be Prepared to Pay List Price
Unlike buying a home in the winter, when you can be a little bolder with your offers, in springtime, you may have to be prepared to pay list price for the home you want. Don’t worry about how much more or less comparative homes on the market are priced. If you find a home that meets your needs and you can afford the price, then make the offer – even if it is list price.
Let Trusst’s Wilmington NC Custom Builders Build Your Dream Home
Despite the huge influx of homes put up on the market every spring, you are not always guaranteed to find the home that your family needs. So why not let Trusst Builder Group’s Wilmington NC custom builders build your family the home of their dreams? Trusst is a leading builder in several of North Carolina’s most prestigious planned communities and we’re an on-your-land builder, so we can build your new home wherever you decide to purchase land. Call us today at 910-371-0304 to schedule a professional consultation. Also, visit our Facebook page to see our latest tips and advice. We can help you get into the home of your dreams this spring!