Like the game of chess, the homebuying process requires one to plan and think about strategy, from the very beginning of the game.
The following offers a few things for mindfully strategizing a strong game plan when beginning a home search.
Pre-Approval is the Best Opening Play To Make
It’s important to have a great opening play when you’re buying a home. The best move a buyer can make to begin a home search is getting pre-approved by a lender. Knowing this is an important step, it’s important to understand exactly what pre-approval is and what benefits it provides.
Freddie Mac says:
“The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan guarantee, it simply states how much your lender is willing to lend you. This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”
In the game of chess, a strong opening move signals to your opponent that you’re a serious competitor. As a homebuyer, your pre-approval letter signals to the seller that you’re a serious, interested buyer.
Homebuying is a Team Game
Every step you take to create your strategy as a buyer is important in today’s market. Why? Mortgage rates are still low, but increasing. Prices are going up. There’s a limited supply of homes for sale.
These are just a few key variables in today’s market you need to be prepared for.
That means leaning on expert guidance as you plan every move is more important than ever. Have a team of professionals – like your trusted real estate agent and a loan officer – every step of the way to make sure you make the right moves.
Connect with the Dennis Hartley Team today to ensure your winning strategy during the home buying process.
