The summer buying season is still going strong, with more homes on the market and more competition for those homes. Here’s how you can have an edge.

Get Preapproved with a Trusted Lender

You can go house hunting without a mortgage preapproval letter in hand. But a home seller isn’t apt to take you as seriously as a buyer who does. Why take the chance of missing out on your dream home because you’re one step behind in the mortgage process? Preapproval puts you a step ahead.

Don’t confuse prequalified with preapproved. They sound the same; however, they are very different. Prequalification is usually a quick ballpark estimate of the loan you will probably get. Preapproval means your lender knows what you can afford and has conditionally committed to lend that amount.

Recruit the Help of a Reliable Agent

You might assume today’s wealth of online resources makes real estate agents unnecessary. But there is a reason about 90% of home buyers use agents: they can be vital. Trends. Pricing strategies. Unlisted properties. The intricacies of local housing markets. There are so many important aspects of home buying you won’t find on an app.

How do you find a good agent? Start with friends and colleagues. Top online resources include Zillow, Redfin, Homes.com, Trulia, Realtor.com, and the National Association of Realtors.

Be Realistic

About your budget. About your wants and needs. With the former, your lender can tell you exactly how much home your budget allows through the preapproval process.

Wants and needs? That’s up to you. One of the most effective ways to decide if a home is right for you is to make two lists. On the wants list, you’ll put things you can live without, such as a pool, a kitchen with an island, or an extra bathroom. The needs list includes necessities such as a good school district or number of bedrooms. Wants for some may be needs for others.

Don’t Hesitate

When a home feels right, it probably is. With preapproval, you know you can afford the house. If you’ve done your homework, you know the home fits your wants and needs. And the clock is ticking: on average, homes go from listing to sale in 33 days. So you’ve probably got days, not weeks, to decide.

Ready to get started? Connect with a member of the Decker Group online or call us at (972) 591-3097.