How to purchase a home … as seamlessly as possible.
Buying a house is one of the largest financial decisions anyone may ever make in their lifetime (not to mention the emotional piece). It is very important that you go in to the process knowing what to expect.
Making the right choice for you and your family will be so much easier once you are informed.
That’s where we come in!
It’s our job to help you navigate through the entire transaction.
There is so much happening behind the scenes. This really is a process that you should have professional help and advice on.
The social media and all the Real Estate websites make it look easy to do it on your own. You may be thinking you’ll be saving money by not using a Real Estate Agent. The truth is, our combined years of experience will be a huge value to you. The best part about the buying process is the seller pays the commissions (using a buyer’s agent is FREE for you!).
Ultimately, it comes down to this. You wouldn’t want to invest blindly into the stock market. Real Estate is the same thing. We are here to help you make a wise investment and make it easier on you.
There is nothing wrong with looking at houses on-line to get an idea of what you want and where you want to be. Before you do, come have a conversation with us and we can steer you in the right direction. Best of all is that our service is FREE! The key is hiring the RIGHT real estate team that knows exactly what they are doing.
Step 1: First things first.
Knowing what’s involved in the whole transaction will aid you in being ready to make decisions and take action once you find your dream home.
Buying a home is not an impulse decision. You NEED to to know what to expect and have the tools in place when you are ready.
Step 2: Money
It always comes down to money. At this stage you should have a working knowledge of what you can comfortably afford in a monthly mortgage payment. Factor in all of the additional expenses associated with owning a home and work from that number. Getting pre-approved will definitely help to create a budget for you. Keep in mind, just because you are pre-approved for a certain amount doesn’t mean that is what you should plan to spend.
There is more to home ownership other than your mortgage payment such as property taxes or homeowner association dues that are also payable on a monthly basis. Nobody likes being house rich and cash poor so this is the very first place you should start.
Feel free to use this mortgage calculator to get an idea of what a mortgage costs you. Go ahead and play around with some numbers.
Step 3- Tax Deductions
There are many tax benefits in owning a home. This isn’t our area of expertise, so it’s important that you speak to a Licensed Professional. This information will be beneficial in making decisions about your investment.
Step 4-The fun part! Let’s go shopping!
You will need to sit down and really think about the things are important to you in your home purchase. We want you to have a realistic expectation when you start looking. We’ve been doing this for a long time, and it’s virtually impossible to get everything you want in your house … no matter how much money you have. It’s important to figure out what are your “must have”, “nice to have” and “can live without.” This will help us narrow down the search criteria.
Here are the 3 things we need to know before we can start setting up your customized search.
Price– What is your desired monthly payment? We suggest figuring this number out first so you can determine where your comfort level will be. Based upon what you would like your total monthly housing payment we will reverse engineer a comfortable price range for you.
Location-The So Cal lifestyle comes in all shapes and sizes. What’s most important to you in terms of location?
Amenities- What kind of house are you looking for? How many bedrooms and baths? What about condition?
Determining what is realistic and what is not up front will save you the most amount of time and aggravation. Buying a home is simply a process of elimination. It is up to you to decide what you can live with and without.
Buyer Closing Costs
When you buy a house you will have more than just your down payment and initial deposit. You will need to pay for the inspection and there will be some closing costs involved. These are all things that you need to consider and plan for.
It is important to understand all of these closing costs and what they mean for you.