In New Jersey’s highly competitive real estate market, where inventory levels are not keeping pace with buyer demand, smart buyers take steps to ensure they’re prepared for success when buying a home. Here, Team Nest Builder shares 4 tips for New Jersey home buyer success:
1. Be Prepared
“Homebuyers should talk with a lender, real estate agent, and a home inspector BEFORE finding a home to make an offer on.”
Being intentional, pre-approved, and prepared sets you up for the accelerated time tables that come with a highly competitive market. If you’re the most prepared buyer interested in a home, if you’ve already secured financial approval, and if you’re ready to move fast, your bid becomes that much more attractive to a seller.
2. Think Strategically
“Starter homebuyers don’t have a home to sell and can be flexible on closing dates compared to homebuyers who are also trying to sell at the same time.”
If you’re one of the many first-time New Jersey buyers looking for your dream home, know that being strategic and flexible about closing dates can help your offer stand out from the rest. But don’t fret if you’re a homeowner who has to sell your own house first – be upfront about your timeline with your agent and with any offers you make.
3. Seek Out the Ugly Ducklings
“Buyers might consider looking for homes that have been on the market for a while and investigate why. The reasons may be a deal-killer but all it takes is one ugly duckling to turn into a swan.”
Finding a fixer-upper or a home that needs a little love might be your best way to guarantee you’re able to find a home in the neighborhood you desire The worst house on the best block often goes for a steal and offers instant equity once you fix it up!
4. Learn From Your Agent
Your real estate agent is the expert, so allow them to teach you. Team Nest Builder offers new buyers a FREE, very helpful, 30-minute consultation explaining the home buying process--valuable information explained simply and quickly and at no cost to you--you have everything to gain! Team Nest Builder also offers an "area tour" to home buyers unfamiliar with the towns (or the price range) to which they’re considering moving---extremely helpful!
In New Jersey’s home buying market, full of bidding wars and tough competition, finding ways to stand out from the other home buyers by getting creative and smart improves your chances of having a new home to call your own!
Source: The Skinny on Skinny Inventory, Trulia