Tips for Successfully Buying a House Online

The real estate market is so hot, it sizzles. But how can you buy a house online without getting burned?

Yes, you read that right. The housing market is strong and interest rates are low, making buying a home extremely competitive. Properties are going so incredibly fast that buyers are resorting to making offers before they physically see them.

Why Are People Buying Houses They’ve Never Seen?

It comes down to demand. With homes getting dozens of offers within hours of going on the market, shoppers frequently don’t have enough time to schedule a showing before the property is under contract. This frenzy has driven them to make offers on houses without ever stepping foot inside.

How Can I Buy a House I Haven’t Seen?

This trend has shaken up the traditional homebuying process. However, you can take advantage of a few tips to help you make a good decision.

Know what you want. If you only have a broad idea of what you want in a home, you’ll have trouble buying one virtually. Narrow down your must-haves in advance and decide on how much PITI payment (which stands for Principal, Interest, Taxes, and Insurance) you can afford. When a home that fits your specific criteria hits the market, you’ll be able to confidently jump on it.

Scour the online photos. Photos and videos are the next best thing to being there. Look at the lighting, the size and layout of the rooms, the condition of the kitchen and bathrooms, and the size of the outdoor space. Photos will give you a good idea of what to expect from the house, such as the amount of renovations and updating you’ll need to do.

Study the specs. Look at the numbers available to you online. What is the square footage? Is the home located in a good neighborhood? Does it have enough bedrooms for your family? How old is the roof and the HVAC unit? You can get a feel for the home by reviewing the specs available to you.

Lean on your real estate agent. You’re going to need a savvy real estate agent in this market. They should be able to tell you about other homes they’ve sold in the area as well as the good and bad points. Is there lots of traffic or noise nearby? Is the neighborhood safe? Your agent should be able to fill in the gaps the photos and spec data left out to give you a complete picture to help make your decision.

Sure, it can be stressful to buy a home without physically seeing it first. Do your planning on the front end to determine the amenities you must have, study the house thoroughly, and trust your real estate agent to know the area. You will hopefully make the winning offer and be in your home before you know it!

Contact us today to get pre-approved for your mortgage loan.