Although our South Florida readers don’t have to worry too much about the difference between winter and summer like the rest of the country, they will still likely notice that spring and summer bring about the real “house hunting” season, much as it does everywhere else. By spring, prospective buyers have settled into the new year, filed their taxes and are beginning to look for the right piece of real estate.
With spring right around the corner, what are some of the first steps for prospective homebuyers in South Florida? Well, much like most other real estate transactions, the first step is usually to answer one very important question: How much can I afford?
Every person’s financial situation is different, but figuring out what the buyer can afford is crucial, because it can immediately help to narrow down the search for a home. After all, there is no need to waste time looking at homes that are outside of the buyer’s price range. A subset of this step can be to get pre-approved for a mortgage. This process will help prospective buyers assess their finances, as well as starting the home search confident in the fact that they will be able to secure financing when they are ready to move forward with a purchase.
These first steps can be a bit stressful, but they are likely to lay the groundwork for a much more enjoyable and smoother search for a new home. And, with house hunting season coming up quick, now may be a good time to get started on these first steps.
Source: HUD.gov, “Buying a Home,” Accessed Feb. 6, 2016