LEXINGTON, Ky. (FOX 56) – The pandemic, historically low-interest rates on mortgage, and large numbers of people looking to own homes have made the house-hunting process much more daunting.
Despite the uphill battle, realtor David Watkins with eXp Realty said there are ways to make the process just a bit easier. It’s especially challenging for families looking to spend $300,000 or less, which is seen as a hotbed for buyers. Watkins encourages buyers to go into the search with an open mind when it comes to listing features that they’d like in their home.
“I’ll take the list of things that they are looking for and say, just so you know, we will definitely look for all these things, but be prepared to make sacrifices,” Watkins said.
Watkins said getting mortgage pre-approval before going on the search will make sellers more comfortable with your offer.
“Getting pre-approved with a mortgage company before you start house hunting. Second of all, work with a realtor who knows what they’re doing. There’s a lot of tips and tricks that we know to make your offer and to make the seller more confident in your offer,” Watkins said.
Benjamin Pumpelly is now the owner of a house but getting there brought plenty of hurdles. It took Pumpelly a total of 9 attempts to close on a house. Getting the win was a cause for celebration.
“We didn’t have much hope going into it. When we were driving through the neighborhood, we made the offer on the home and we were like, ‘it’s just going to be another where we get rejected. Don’t get your hopes up.’ when our realtor let us know we got the contract, we definitely popped some champagne. And we had a confetti gun,” Pumpelly said.
Pumpelly said it’s all about patience, and the willingness to get back up after getting rejected on an offer. Also, be willing to make sacrifices. A home may not check every single box on your list. Pumpelly said at the end of the day, you’ll learn what your list really needed.
“Whenever you go into the market, I’d say go into the market patient. Go in eager and hungry to make multiple offers and don’t be afraid of rejection. On top of that, I would say one thing you can do on the front end is definitely get pre-qualified or pre-approved prior to viewing a home,” Pumpelly said.
For more information on how to make the house search easier, David Watkins can be reached at (859)-420-5500.