If you want to move this summer, but you haven’t been able to so far, it’s not too late. Take advantage of the summer sun and quick home sales to get into a new home before the season is out.
Here’s how to start.
1. Get Preapproved
Whether you’re currently renting or you already own a home, getting a preapproval for the mortgage on your new home is the best first step. You’ll need to collect financial documentation such as pay stubs, bank statements, and tax information from the last two years, as well as a list of monthly debts and in some cases, references.
Why should you start with a preapproval? It will give you an idea of what you can afford in your location, and when it’s time to get financing for your purchase, the process will be faster and easier—critical for finishing your move before summer is over.
2a. Current Homeowners, List Your Home Right Away
While you’re getting your preapproval for your next mortgage, you should list your current home for sale. Summer sales tend to move faster (and sell for more!) than houses listed during other times of the year, so if you list now, you should be able to fund your next purchase and get into a new home before the summer is over.
Looking for the perfect listing agent? Your search is over! As your local real estate experts, we can’t wait to sell your home for top dollar on your timeline. Get in touch to get started.
2b. Renters, Take a Look at Your Lease
While you’re getting preapproved for a mortgage, you should look at the details of your lease. When does it expire, and what are the penalties if you want to vacate early? Also, make sure you give your landlord enough notice. Most lease agreements stipulate that you give at least 30 days notice, in writing, before you move out. Make sure that you understand the terms of your lease so that you don’t end up with any unexpected expenses when you move out.
3. Make Your Must-have List
Before you start shopping, you should make a must-have and a must-not-have list. Knowing what you want and don’t want in a property will help your real estate agent find you the perfect home faster. Your list should include desired amenities like location, size, number of bedrooms and bathrooms, and any other features you need your property to have before you’ll consider it. You should also know your price range (based on your preapproval letter), and anything that you absolutely don’t want. Try to be specific enough to narrow down the scope of your search, but flexible enough that it’s not impossible to find your new home.
4. Start Shopping With Your Real Estate Agent
Get in touch with an expert real estate agent in your area and tell them what your ideal timeline looks like. You’ll also want to provide the amount on your preapproval letter and that must-have list so they can get started finding you the perfect property. Once you’ve found a home that you want to buy, your agent will help you construct a highly competitive offer so you can close the deal quickly. You’ll be living in your new place before you can say pumpkin spice!
