Buying a home in Ohio can be an exciting experience, especially if it is your first time. But along with the excitement come challenges. Whether selling a house to move to a bigger one in the same city or relocating, selling and buying a property takes a lot of work. So here are some tips for a successful and stress-free closing.
Tips for House Sellers
- Choose the Right Time to Sell the House
To start, you need to know that the real estate market lives by its rules. There would be peak time with higher demand when you can close a deal faster. Ohio real estate agents state that the best month to sell property is June, with recording quick time for closing. On the other hand, the worst month to post your listing would be January, as most people are recovering after the holidays. In winter, it takes longer to find suitable buyers. Still, there are plenty of investors looking for estate all year long.
- Hire an Agent With Expertise in Your Neighborhood
It’s crucial to hire professionals that know your area and are successful in closing there. Search for local Cleveland realtors that have expertise in the neighborhood you’re located in and worked in your price range. That way, you can assure they’ll know how to present your house to target the right buyer and would be able to advocate for you during negotiations.
- Get Your Home Ready for the Showings
It’s the art of making your hard presentable and attractive to the right buyers. Yet before, you should make sure that the property is in the right state for selling. Fix any problems you might have with plumbing or leaking roof. Some sellers even update their kitchen and bathroom appliances to be able to raise the price. If you’re still living in the house, ensure it’s tidy for the showing, there is no odor, and your pets are safe and not stressed out by the visitors. A good realtor knows how to target the right buyer by showing off special features and using trendy decor and nice smells to associate your house with a cozy home.
- Set the Right Price
The price you set for the house depends on the location, neighborhood, size, type of property, state of all essential systems, and the season. Don’t price your home too low. After all, real estate is an investment, and you should profit from the sale. Consult with the local agent to find the best-fitted price for your specific situation.
- Trust the Agent With the Process
There are many things that a professional realtor can take care of for you. Starting from presenting your house best way possible and consulting to paperwork, signings, and closings. Those people are professionals, and their job is not to make the selling worry-free and beneficial for you.
Tips For Buyers in Ohio
- Set Your Non-negotiables List of Requirements
In the property buying process, there are “need-to-haves” and “want-to-haves.” The first ones are your non-negotiable requirements. Think about the neighborhood lifestyle and accessibility, the size and type of the house, amount of bedrooms and parking spaces, and the size of the backyard. Some buyers prefer only newly-built houses while others want a pre-loved house with history.
- Don’t Neglect the Help From a Realtor
Buyers’ real estate agents could be beneficial, and many people are missing out on a stress-free house shopping experience. If you’re new to the area, they could introduce you to the market, consult regarding any questions, help set your requirements, and advocate for your budget and needs during negotiating with the seller. Realtors take care of all the signing and can guarantee you won’t be screwed over. Its security everyone needs to make sure you’re getting a great deal.
- Take Care of Your Financing Situation
Figuring out your mortgage and financing options is a must-do before starting the house search. Make sure you have enough saved up to a 20% down payment. During the peak season, buyers ready to provide down payments right away are more attractive to sellers. Keep in mind to have your mortgage pre-approved letter before house shopping. To get pre-approved, you must present your total income, personal debt history, and cash reserves. After receiving a pre-approval letter, ensure not to mess up your credit history by getting additional loans or late payments.
- Enroll in First-time Buyers’ Programs
For some people, getting loans or saving enough money for a down payment could be challenging. There are governmental programs in each state that help first-time buyers get access to funding and loans. Some operate on a national level, and some have particular requirements to enroll, like being a military hero. However, the most common programs are orientated toward low-income families and first-time house buyers. If you’re in that situation, learn more about the Ohio Housing Finance Agency, the U.S. Department of Housing and Urban Development, and more.
The Final Word
Without a doubt, there is plenty of information, statistics, trends, and life hack you can learn about the real estate market in Ohio before you decide to sell or buy the property. The more you know, the better you can navigate the market and influence the success of the closing. Hopefully, with the help of the previously mentioned tips, you’re one step closer to buying your dream house or benefiting from selling your childhood home.