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3 Ways To Move Into A New Home In Less Than 1 Week
Buying a house can be daunting, especially if it's your first time. Perhaps even more so if you have done it before and now you need to sell your existing home before you buy a new one. Today, there are more options than ever and understanding which apply to your situation may make the task a little more simple.
One of the easiest ways to get started is to work with a local Realtor, who has gone through the process hundreds of times instead of only a few like most people will in their lifetimes. What do we know? According to National Association of Realtors® (NAR), people move an average of every 12 years, Zillow says that the median age for a first-time home buyer is 36 in the United States and, our life expectancy of 78 years researched by the Center for Disease Control (CDC) means that excluding investments and timeshares we conduct approximately 8 Real Estate transactions.
Wow, that was a lot of words in once sentence; but only to emphasize that a full-time Realtor® may go through that many per year or more. Since about 90% of people use a Realtor® to buy their homes and rarely have to pay anything out of pocket, it is often the first desired step as they should walk you through the entire process.
Regardless of where you are at in your home buying or selling process, the goal is to be educated on what options you have at your disposal. Here are a few ways to get you moving quickly after you have hired your Realtor®.
Method 1: Builder Inventory Homes
Did you know that builders sometimes have homes they have built, that are move-in ready? What happens is, there is a planned number of units for a development or section and builders try to find people to purchase the homes to offset some of the lot costs. Well as with anything, plans don't always go... according to plan.
A customer may come in and begin the purchase process, and a change in their lives forces them to cancel the transaction. It's not very easy to simply stop building a house. The builder then completes the home to that person's (or most people's) specifications.
These homes are known as inventory homes. Homes that are part of a builder's inventory that is able to be sold, usually move-in ready and are frequently tied to promotional offers.
Method 2: Quick Lending Methods
There are mortgage lenders out there that can help you move in 21, 17, even as little as 11 days! However, they need your cooperation. Remember, when you are asking to borrow hundreds of thousands of dollars, they will need to do their homework on you as well. Being open and honest when interviewing lenders will likely decrease your turnaround time to getting the money you need for your loan.
Over everything, cash is king. Having a pre-approval letter means you have done your homework and the lender will put their cash where your mouth is. When shopping for a home, having that letter is MUCH better than having a pre-qualification letter in the eyes of someone who is selling their property. A pre-qualification letter means you simply told someone how much money you had, with almost zero scrutinies. Be honest with yourself, would you be honest?
Ask me about lenders that have quick turn-around time.
Method 3: Lease or AirBnB
Emergencies happen, and both leasing and AirBnB offer viable alternatives as a creative and not always conventional quick solution. Both a lease or an AirBnB can apply to full houses. The terms are very different, but each offers a unique set of opportunities.
Leasing an apartment is not for every family. There may be restrictions on pets, limited space, or maybe you just want a fenced in yard? Finding a home for rent may work better, and gives you an idea of what it will be like to live in a certain neighborhood.
Which leads me to AirBnB... It is an amazing service. AirBnB is like Uber for your house or room. You can rent a space or an entire home, from a day to months at a time. Because AirBnB is an industry disrupter, lawmakers haven't been able to get a grasp on it yet. So you don't have to complete the same amount of paperwork you would if you were leasing a property through conventional channels.
Here's a video that explains it a little better.
What do you think, are there any suggestions I've missed?
I have lived a full life. One of my lofty aspirations is to have an impact on everyone I meet. One way I am able to achieve this is through Real Estate. Whether you are buying your first home, selling....
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