The homebuying process comes with a language all its own, and two of the terms you may have heard are prequalified and preapproved. While both can be essential parts of obtaining a mortgage and buying a home, you may not know what they mean. Check out the information below to learn how each term may benefit you during your home search.
Tips for Buyers
When you're first starting to look to buy, you'll quickly pick up on a few trends happening in the local market. For example, you might notice an over abundance of properties available for sale (indicating a buyer's market), or on the flip side, you might not find very much available (indicating a seller's market).
Either way the market may be heading, there are always a couple of extra tips you'll want to note when looking at homes.
New Places to Look for Your Next Home
For many buyers, one of the most challenging aspects of buying a home in 2020 turned out to be finding a home in the first place. Low inventory in many markets, as well as the struggles associated with local restrictions and virtual home tours, meant that some enthusiastic buyers found themselves unable to find the right space when they were ready to move forward with their purchase.
Don’t Make These Common Home Buying Mistakes
How to Know When It’s Time to Move
If you’re on the fence of whether to move or not, it’s crucial that the entire family sits down and makes a list of pros and cons. But sometimes, even that’s not enough, and you can be left wondering whether or not it’s the right time to get the moving boxes ready. These are some reasons to keep in mind as you prepare to make this life-changing decision.