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Buying Your First Home? Why Now is the Perfect Time!
Ready to buy your first home? 2020 has been a year unlike any other, and there are unique opportunities available to anyone who is dreaming of becoming a homeowner for the first time. Interest rates are lower than ever, sellers are very motivated to find qualified buyers, and you can take detailed tours of available homes without leaving your current residence. Our real estate agents have all the details on why this is the perfect time to shop for your first home, and how you can prepare for this opportunity.
- A Unique Opportunity with Historically Low-Interest Rates
As of July 2020, interest rates for a 30-year fixed mortgage fell to an all-time low of less than 2.98 percent, the first time ever that rates have dipped below three percent. Lower interest rates make it easier to get "more home" for your money and help keep your mortgage payments lower over time. These record-low rates won't last forever, which makes this a unique opportunity to purchase your first home. - Tour Homes Online or In Person
Shopping for Bradenton homes for sale, but not able to tour homes in person right away? 2020 has seen a major surge in the use of virtual tours and virtual open houses, which allow you to tour homes from the comfort of your computer or mobile device. No matter where you currently live, you can now shop from a distance in your target neighborhoods.
Tips to Help Land Your Perfect First Home in This Unique Market
- Review Your Credit Report and Boost Your Score
Putting together a competitive offer for Sarasota homes for sale is much easier when you have strong credit. Request your annual free credit report from the three major bureaus at www.annualcreditreport.com, and ask your REALTOR® about opportunities to improve your score. Once your credit is looking strong, avoid opening new lines of credit or making large purchases until after you have purchased your home. - Start Saving for Your Down Payment
Making a larger down payment has two key advantages because it helps keep your mortgage payments down while also increasing the appeal of your offer to sellers. Saving as much as possible in advance will improve your purchasing power. - Research Loan Options and Get Pre-Approved
If you want sellers to seriously consider your offer, then getting pre-approved for a mortgage is a must. There are many different types of loans available, so it's wise to research what various lenders have to offer before making your choice. - Find A Qualified Real Estate Agent
Especially in this highly competitive "seller's market" if you want to land the perfect home, you need the right real estate agent. A good agent is especially important when shopping for your first home because they can walk you through all of the details of the purchasing process. Your agent can help you analyze the market, identify properties that fit your ideal specs, negotiate the best possible deal when you find a home, and act as a trusted advocate during every step of the process.
Ready to purchase your first home, but still searching for the real estate agent who will help you cross the finish line? Contact us to buy and sell homes in the Manatee and Sarasota, FL area.