Are you looking to buy a home in California? We are here to help make the process a little easier and give you some tips on buying a home.
Buying a home is a big step and being prepared to do so is important. We have 10 tips to help you in the process, and you can find more detailed information at HGTV.
- Get pre-approved for a loan instead of pre-qualified. There is a big difference. A pre-qualification only states that you can start the application process. A pre-approval goes into the loan application process and provides detailed information on what you can afford and saves a lot of time once you find your dream home.
- Keep your money in one spot. When you are purchasing a home, the bank wants to see that you are stable. If you start moving your money around or making large purchases 3 to 6 months before you apply, you might not be approved.
- Don’t wait for the real estate market to turn. Buy a home when you are financially ready and when you find the home you want. You don’t wait to buy real estate, you buy real estate and wait.
- Get a land survey done. This shows your exact property lines and prevents land border disputes down the road.
- Buy a home that has the potential to increase in value. If you purchase a home that is the most expensive in the neighborhood, it will stay that way, and you will have a hard time finding a buyer in the future.
- Get a home inspection. The cost is around $400 but it is well worth it. The home inspector can save you thousands of dollars by finding things wrong that you might have had to fix a month after purchase.
- Don’t buy a home because you like the paint color. Emotions can cloud reasonable judgments. Make sure it is a good, solid investment.
- Do research on the neighborhood. Find out school districts, drive through at all hours, scope out the neighbors, and time your future commute.
- Prepare for costs that you might not be accustomed to. There will be property taxes, utilities, homeowner association fees, and maintenance repairs.
- When you find your home, bid right. Ask your agent to prepare a detailed analysis report including bid pattern of that particular neighborhood, comparing conditions of the properties, and identifying the specific school district because value can be different with different schools. Then work with a trusted and experienced realtor, who can negotiate for you the best terms possible.
When you are ready to purchase a home, we at Haylen Group are here to help you with all of your real estate needs! If you are unsure what your options are, call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.