Many people feel that spring is the best time to buy or sell a home, and it is due to this belief that the market heats up this time of year. If you have strong desire to a buy a home in spring, here are key things you need to know.


Get Pre-Approved for a Mortgage
Serious homebuyers need to consult a lender before they go to open houses. Funding allows buyers to go forward with knowledge of exactly how much money they have to spend. Pre-approval means the lender has checked your credit and verified your documentation to approve a specific loan amount.
To be pre-approved you will need to provide documentation including your social security number, employment verification, good credit, proof of income, and more.


Hire a Realtor
For most people buying a home is the biggest financial decision of their entire life. The best source of information about your local real estate market is a Realtor. They have the expertise and know the nuances of the local market. This means they can answer questions you have about trends, taxes, and which areas where you can get the most for your budget.
In the search for your dream home you are going to need assistance. Realtors have local connections. A well connected Realtor will be able to refer you to trustworthy home inspectors, home staggers, interior designers, lenders and more.

Set a Timetable
Once you have found a Realtor, it is important establish a timeline for when you want or need to be in a house. This is especially true if there is a looming deadline such as relocation or the start of a school year. Often times the house buying process takes more time than a new buyer might anticipate. Those with a less stringent time frame may spend more time looking at properties than buyers on a tight deadline.
Be Open to Compromise
The internet has made it easier than ever to peruse for sale homes. While the availability of access is a good thing it has also increased expectations for the features of a house.
While you might want an open layout or a three car garage it is important to be realistic. For example if you want to live in the Burns Park neighborhood in Ann Arbor you will not be able to find a house if your budget is only $100K. This doesn’t mean your Realtor can’t find you a home in your price range. It just means you might have to adjust your expectations.

Be Speedy
It isn’t an easy time to be looking for a home in a hot market. For sale inventories continue to be a challenge for most price ranges and areas, particularly in the City of Ann Arbor.
If your price range is $250,000 or under you will feel even more frustration going into this spring than last as there are there are 36% fewer homes to choose from. With inventories so low, there is just not enough product on the shelf. Low inventories have pushed the average price per square foot up 10%. Going forward the inventory shortage in the under $250,000 range might continue through the spring.
Low inventory tends to lead to multiple offers and houses sitting fewer days on the market. This means in a hot real estate market if a home meets your major requirements you need to be ready to act quickly before someone else does.

After getting pre-approval, finding a Realtor and putting in an offer the most important thing you can do is be patient. Frequently buyers will feel defeated after losing out on a house. Don’t give up or get angry. Remember your new home is just around the corner.