Strategies for Buying a Columbus Home in the Fall
Purchasing a home in Columbus in 2023 can be a bit challenging with the continued low inventory and the mortgage interest rates remaining at a higher spot than anticipated. Some Columbus buyers have hoped that waiting until the peak real estate buying season of summer was over might help make finding. a home easier with less buyer competition.
If you are looking for a Columbus home this fall here are some great tips to help you in your home search.
Know What You Are Looking For
One of the best strategies for purchasing a Columbus home, and alleviating a lot of stress from feeling overwhelmed is to know what you want from a home. It's like shopping for a car or a kitchen appliance. Instead of just going out to a store that has the item you want, doing research on what type of fridge you want or the specific car you are hoping to buy will eliminate a lot of shopping hours because you don't need to waste your time looking at things that won't work for you.
Start by listing out what you need from your new home (the reasons why you are moving, for example, you need another bedroom for a growing family) and then include some features you would like to see in a new home but may not necessarily need. Then decide what location would be ideal and start doing homework on the Columbus neighborhoods you would be interested in living.
Next, look at what a reasonable budget would be for you. Go over your monthly payments, determine how much you have available to make on a home payment, and determine what home price range you would be able to afford.
All of this narrows down thousands of homes to less than hundreds. This way you are not wasting time looking at homes you would never want to buy or cannot afford. This saves a lot of time in your search and relieves a ton of stress.
Know the Market
Once you have a list of attributes you would like in your home and a loose budget idea, it is good to get acquainted with the current local Columbus real estate market to help you determine if your search criteria is realistic with what is available in the real estate market in your budget. You may have to adjust your search parameters a little bit to help you navigate homes you can truly afford on the market right now. The market can shift from season to season and home buying in the fall could make your dollar stretch further with less buyer competition. Knowing what is available to you in your market and specifically in the neighborhood/location you prefer helps to get your home search off on a realistic and more promising foot.
Hire Expert Help
No matter the time of year it is always a smart plan to have an expert local real estate agent helping you out. An agent will discuss your home-buying plans with you and help to discuss the current local real estate conditions to determine your best homebuying strategy for what you are looking for in a Columbus home. It is an agent's job to assist you in searching for homes that meet your search criteria and are within your affordable price point and in the neighborhoods you hope to settle into.
Agents often have insight into homes that are not yet on the market but may soon as well. They can find homes that the public does not have access to. They can also easily narrow down a search with their extensive knowledge of the homes in the area they work in. They will handle the paperwork and negotiate with the selling party on your behalf. It takes a huge burden off your shoulders and helps ensure you are making a solid financial purchase at a reasonable price. It's like taking your 6-foot older sibling with you to a three-on-three basketball tournament. Having the help you need makes the task so much easier.
Have Everything Ready to Make a Strong Offer ASAP
Be ready to make an offer as soon as you see a home you know fits what you are searching for. The best way to be ready to make a strong offer is to have a mortgage pre-approval. When you have already gone through the process of discussing your home-buying options with a bank you have a pretty solid idea of what a lender will agree to loan you. This gives you a solid foundation to put an offer in on a home and share with the homeowner that you have already discussed the possibility of purchasing a home for a pre-approved amount. Should you face a multiple offer situation this fall this will also help your offer to look more solid and favorable. Though there are fewer buyers shopping in the fall it is still the best approach to know what you can afford and make an offer as soon as you can.
For more information on purchasing your next dream home in Columbus please contact me. I am highly knowledgeable in Columbus area real estate and make it my mission to find homes my clients love within their affordable budget.