4 Ways to Speed Up Your Home Buying Process

Buying a home can be slow; for some people, the process coupled with moving is stressful. Recent data reports that there were approximately 7 million home sales in the US in 2021. And Investopedia suggests buying a home can take at least 40 days or possibly more, depending on a few factors. But what if you can quickly get it done and enjoy your new haven? Here are four ways to speed up your home buying process. 

1. Have a must-have list but be flexible

What features are you looking for in your new home? Do you want a private backyard, walk-in shower, outdoor kitchen, or theatre room? While your realtor may suggest a few things for your new home, having your own list of necessities in the property can be useful. Real estate experts say most home seekers have a general idea of what they want, while others are specific about their needs. However, being flexible and narrowing down your must-haves can assist you tea h your goal faster. 

2. Work with an excellent lender

Getting the home you want can be challenging if you don’t have the financing. However, this is an internal part of the home-buying process. Therefore, finding the right mortgage brokers can put you in the fast lane due to their outstanding working ties and established reputations. Research shows robust housing demand and low mortgage rates as many buyers compete for the few available properties. Meanwhile, home prices in the US real estate market increased by 11.3% and 15.9% in 2020 and 2021, respectively. While you want to find the best rate possible, ensure to choose a lender with good customer service. It wouldn’t do you good to find a low rate if the lender can’t close it quickly. 

3. Consider auctions

Buying through an auction can be faster than using a real estate agent. You can also get one of the best deals since sellers price their properties to make a quick sale. You can request a catalog from the local auction house, look at the available properties, complete the necessary procedures and bid immediately. Buying through Property Auctions can be fast, so you want to get your finances in order before bidding. Successful bids are usually expected to pay a 10% deposit upfront and the rest within a few weeks.

4. Consider areas outside your dream location

The most sought-after areas in the cities or towns have low inventory since they are places everybody wants to live. Unfortunately, choosing an area with a low home inventory can drag your home-buying process since there could be others competing for the same property. Be open to exploring other homes outside your dream location to increase the chances of getting your offer accepted. Additionally, homes in the less popular areas can be considerably cheaper with less competition. 

The housing market can be a tough space for buyers. And while you don’t want to rush through the process, you want to consider the above tips to shorten your home buying process.