With everything moving so fast in the world today, how in the world would you have time to buy a house if you are a busy person? It would be quite the struggle, and someone with a tight schedule is bound to miss out on several of the best opportunities. Today homes are flying off the market left and right. So what is one, like yourself, to do when you want to buy a home?
Before I give my recommendations, I want to you get a clear understanding of what’s going on in our current real estate market. To simply bring things into perspective, in a “normal” real estate market, there is about 6 months worth of inventory available for buyers to choose from. Currently, in the Dallas area, there is about 1.5 months worth of inventory. This means, as a buyer, you must act fast. Most buyers are competing against each other. Like the old saying goes, “the early bird gets the worm.”
Here are a few tips that I would suggest you implement immediately if you plan on buying a home in this market, especially if you are a busy person.
Apply For A Home Loan
First, get your financing taken care of ahead of time. It’s so typical for buyers to want to find a home then apply for a home loan. This way of doing things will leave you high and dry in a competitive real estate market. Apply for a home loan before you begin searching for a home. The reason you want to get a pre-approval ahead of time is because, once you find the home, you can quickly send in an offer and not wait on a pre-approval letter. Let’s face it, you need to know ahead of time what price range of homes you should be searching in anyway. To get a better understanding of the different types of mortgage loans, check out my other posts on FHA, Conventional, USDA and VA home loans.
Find An Experienced Realtor
Next, find an experienced Realtor who is on top of everything. Be selective of the agent you choose. Just because they are a “top producer” does not mean they are equipped for the job. You need a good Realtor who can step in, on your behalf, when you aren’t available. They are going to need time and energy to work for a busy person. There are certain things that you, as the buyer, will need to do; but your Realtor can help with what they can. In real estate, time is of the essence and a great Realtor will make sure you are taken care of.
Use Real Estate Technology
Lastly, leverage technology. There are so many apps available that virtually let you be anywhere at any time. If you can’t make it to a showing, send your agent to preview the property for you. They can record video or stream live video to you. Make use of different applications like Skype, FaceTime, and even Snapchat. I’m on all three of those and my clients love it. When it comes to the paperwork, most documents can be signed digitally right from your smartphone. It can happen very quickly. This will save you many meetings with your real estate agent.
One thing that I decided to do was create a digital first-time homebuying course. I offer this for free and it’s a series of videos that explain how to buy a house and the different home loans. I thought this would be perfect for busy people who want to buy a house.
To wrap things up, before you decide to postpone your home purchase or wait for that slower time, try these 3 things. If you decide to wait, it could cost you. Once you do get to the closing table, it will be the greatest feeling ever. There are definitely ways to make the home buying process convenient for you and your busy schedule.