There are several things you need to look for in a Boise loan officer, including their level of expertise and their willingness to help you purchase your dream home.
Thinking about purchasing a home in the gem state? If so, there are a few things that you need to know in order to pounce on the home of your dreams in Boise, ID. In this article, we will go over everything you need to do to make your home dreams in Boise a reality.
In This Article:
- What Can You Do To Secure The Home Of Your Dreams In Boise, ID?
- Why Is It Important To Get Pre-Approved If You Were Serious About Purchasing A Home?
- How Differentiating Yourself From Other Buyers Will Increase The Likelihood That Your Offer Is Accepted?
- What Are Some Other Tips That Can Help You Get The Home You Want And Need?
There is no denying that the real estate market in Boise has been setting records. In the current month alone, home sales have jumped 17 percent and are projected to keep going up as we approach 2021.
As a first time home buyer or even someone really excited about a certain house, it is important that you do everything you can in your power to get the home of your dreams at an affordable price.
Right now, like much of the rest of the country, the housing market here is definitely a seller’s market. As a buyer, then you need to be savvy and ready to pounce on the home of your dreams, and here are a few tips and how you can do just that.
Know What You Need — and What You Can Live Without
For starters, even though you may know that you have always wanted a two-story, four-bedroom, contemporary home in Boise with an open floor plan in a great neighborhood, you need to ask yourself, is this what I want, or is this what I need?
Obviously, if it is the home of your dreams, there are definitely things you want present. Nevertheless, you should have a clear idea of your must-haves and what you can live without, especially if what you want is not necessarily in the budget.
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You can do other things to ensure that the Boise dream home you have in your sights becomes your home includes staying on top of listings and communications with your real estate agent, loan officer, lender, and so on. Here, the goal is to be as available as possible so that you do not miss out on your dream home simply because you are not the best at checking emails or returning important calls.
Remember working with a real estate agent, a knowledgeable loan officer, and a reputable local lender are all important because these individuals, along with an expert mortgage company, will help facilitate your home dreams and have your best interest in mind.
Get Pre-Approved — Not Pre-Qualified — for your Loan
In addition to making your must-have list and staying informed about what is going on with the housing market and your future dream home, you should speak with your lender about getting pre-approved and not pre-qualified for your home mortgage. Though these terms sound identical in a way, they are not. Getting pre-qualified is more of a soft check, if you will, of your credit, finances, and your overall ability to purchase a home.
In contrast, pre-approval is a similar process that is backed up by your lender. A pre-approval letter from your lender or even multiple lenders is a bargaining chip for you as a buyer. Since you will likely be competing with other buyers for your dream home, showing that you have been pre-approved for a loan by a reputable local lender will show the sellers that you are serious about purchasing their home.
Moreover, being pre-approved shows that you are an extremely strong buyer. Note, when a pre-approved buyer makes an offer on a home, it is the next best thing to an all-cash offer for most sellers.
Know the Neighborhood
Yeah, another way to ensure that you can lock down your dream home in Boise is to know the neighborhood. Obviously, you can stumble upon what appears to be the greatest house, but that feeling may be short-lived if you find out that the home is located in a less than appealing or wrong neighborhood. Consequently, you should also be looking for the best neighborhood for your needs.
On another note, you should make it a point to check out the prices of the other homes in the neighborhood, remember you want a good deal and should not necessarily have to pay more than you can afford for the home you have always wanted.
Be the First in the Know, and Then be Ready to go
Despite having a real estate agent, you should be the first to know when it comes to available listings, so you can be ready to go. Of course, an expert agent should be keeping an eye out for homes that meet or match your criteria, but sometimes it pays to also look at listings at the same time just in case. What’s more, you can easily sign up for services offering access to multiple listings in the Boise area. When you sign up for such services, local listings that check all the boxes on your must-have list are automatically sent to your inbox, which means you do not have to spend hours scouring the internet.
Differentiate Yourself from Other Buyers
Besides being pre-approved, You may want to consider making your offer a little less informal and doing something to catch the attention of the sellers. For instance, some buyers that are ready to pounce on the homes of their dreams in Boise send personalized letters to the seller. Personalized letters help to give the seller a better idea of who you are and why you want their house, which could be a serious tie-breaker for sellers with multiple offers on the table.
Make an Offer Close to — or Above — the List Price
When you finally do come across the home that you have always wanted in Boise, it is important to refrain from lowballing the seller. Instead, it is in your best interest to make an offer close to or even above the listed price. Here, the goal is to not spend a lot of time going back and forth with the seller during negotiations, as this may ultimately backfire and cause the seller to go with someone else instead.
Keep your Offer Clean
Last but not least, you should keep your offer free from any stipulations, requirements, and so on. The reason this will help you stand out and hopefully secure the home of your dreams is because the offer is straightforward and easy for the sellers to consider. That said, this is only your initial offer, so if there are things you want to request or make a part of the sale down the road, then speak with your agent and see what they can negotiate once your offer has been selected or accepted.
Ultimately, these are just a few things you can do to make it easier to get the home you have always wanted in Boise, ID.
Ready to Apply For a Mortgage in Boise, Idaho?
Are you curious about mortgages, or are you ready to apply for one to buy a home? If so, Sammamish Mortgage can help. We are a local mortgage company in Idaho, serving the entire state as well as amazing neighborhoods in Boise, including North End, Highlands, East Ends, Southeast Boise, Hidden Springs, Depot Bench, and Barber Valley. What’s more, we offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. So, what are you waiting for? Contact us today with any questions you have about mortgages.