If you’re planning on buying a home next year, the time to start your search is now. Many buyers will wait until the spring market is in full swing, at which point the market is very busy and you may miss out on your dream home. Get started now on buying a home in the spring and learn what to expect in today’s market.

Starting Your Spring Home Buying Process Now

What to Expect

Two-thirds of home buyers have to search for more than three months when buying a home. Inventory, as it relates to the number of buyers, will likely drop in the spring as more people start searching for properties. Interest rates will also likely rise in the first half of the year, so it’s best to lock in lower rates now.

How to Maximize Your Efforts

With low inventory, be prepared to act once you find the perfect property. Get preapproved for your loan so you’ll be ready to send in your offer as quickly as possible. Prepare for the possibility that you’ll need to raise your offer or make other concessions for the seller to compete with other buyers, as it’s not uncommon for homes to sell with multiple offers. Being able to show that you are already approved for a loan will make your offer more desirable to the sellers, and locking in lower rates now may mean you can afford to make a more competitive offer.

If you’re ready to start looking for your next home, Justyna Johnson at Edina Realty is a top realtor in Woodbury, MN, and the surrounding areas. She’ll help you jump start your spring home search so you can move into your new home on your ideal timeline. She’ll also guide you through every step of buying a home, from getting a “Trustimate,” to showing you properties from multiple listing services, to negotiating on your behalf. Contact her online or at (651) 501-2345 to schedule a consultation with this trusted local realtor.