The sizzling summer house-hunting season is off to a busy start! Before embarking on your search for a Vermont home, it’s crucial to be mindful of common mistakes that can impede your search and potentially result in regretful decisions. Familiarize yourself with these pitfalls to better prepare yourself this summer.
1. Not getting pre-approved
No matter the season, talking to a lender and getting prequalified for a mortgage before you start looking at Vermont real estate is essential. This will give you a better idea of how much you may be able to borrow, which will help you determine how much you can spend on a home. Tell your lender once you find a home you want to make an offer on.
2. Neglecting to establish priorities
Before beginning your search, clearly define your priorities and non-negotiables. Consider factors such as location, amenities, size, and budget. Knowing what you want will help you stay focused and avoid wasting time on properties that don't align with your needs.
3. Getting caught up in the summer frenzy
The fast-paced nature of the summer housing market can lead to rushed decisions. It's important to remain level-headed and not let the competitive atmosphere sway you into impulsive choices. Take the time to thoroughly assess each property and consult with your real estate professional before making an offer.
4. Forgetting about future considerations
While you are in a summer state of mind, it's essential to consider the property's suitability beyond the summer months. Think about its year-round functionality, potential for rental income, and how it aligns with your long-term plans.
5. Not working with a local real estate agent
Attempting to navigate the summer housing market alone can be overwhelming and potentially detrimental. Consider hiring a Vermont REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. They will provide invaluable guidance, help you navigate the process, and negotiate on your behalf.
By avoiding these common mistakes, you'll be better equipped to make informed decisions, find a home that meets your needs, and ensure a successful summer house-hunting experience. Ready to start your search for your Vermont home? Schedule a buyer consultation with a Vermont real estate professional today or start getting to know the real estate market in your desired area with our MLS Search tool.
