Mortgage rates remain low, and lenders aren’t quite as busy now as they will be later on, especially during the summer months. The first step is getting pre-approved for a home loan. By applying for pre-approval, you’ll know how much house you can afford before you start looking at homes. You’ll also be able to make an offer right away on a home that’s in your price range. Most sellers won’t entertain offers from home buyers who aren’t pre-approved.
By starting your home search now, you’ll also have less competition from other home buyers who plan to wait to start the home buying process until late spring and summer. Many sellers are getting their properties ready for sale right now and plan to put them on the market in the coming weeks.
Home buying activity tends to climb throughout the spring, peaking in June and July. Many people prefer to move during the summer months for a variety of reasons. Many people can more easily take off a week during the summer months to make a move. Families with children in school typically want to have their moves completed by the end of the summer so their children can begin the school year in their new location.