Let’s answer some of the most difficult questions that plague potential buyers in the real estate San Diego market.
Can I afford it?
In order to get an educated answer to this question, it is not enough to simply check your bank balance. Rather, you need to meet a mortgage professional. He or she will ask a lot of financial questions, helping you to get a clearer image of your financial situation.
You need to know what mortgage you can afford, as well as how much money you actually want to spend on a property. What’s more, a mortgage professional will help you get pre-approved for a loan. Your offer for a real estate San Diego always looks stronger when backed by a bank.
How many properties to look at?
The first suggestion provided by a realtor is to determine the home value range you can afford, and then list all the homes in that range. Then you can take a look at all the homes, and make a sort of pro-con list for each one. So, the number can never be exact, as it depends on your financial situation and personal preference.
Should I have it inspected?
The answer is always yes, as open houses provide only a superficial look into the state of the home you are interested in. Who knows what lurks beneath the hardwood floors and marble countertops.
However, an inspection is necessary only when you have your heart set on a particular home. It would be a gigantic waste of money to inspect several homes throughout the buying process. Narrow down your options, then inspect thoroughly.
How much of a deposit do I need?
It is a general rule of thumb that all buyers should have a 20% deposit in order to buy a property. This is not always the case. Banks do prefer the 20% deposit margin, but they are also willing to provide loans to people who have smaller deposits. And with newly instated relaxed restrictions, more people will get the opportunity to secure a home with a 10-15% deposit.
How long is the process?
Luck, effort, and financial situation all factor in when it comes to finding the perfect home. There are people who find their dream homes within two or three months of beginning their pursuit. Others can spend a couple of years rummaging through the real estate market. There are simply no rules, the market is competitive, but never allow yourself to get disheartened.
Why hire a real estate agent?
Some people like to go it alone, and it is a commendable quality, but one that could cost you in the competitive real estate market. Buying a home is perhaps the biggest purchase you will ever make. The process is always overwhelming, but it gets easier if there is a trained professional at your side, ready to answer questions, provide guidance through the process, and ease all the worries. Always hire a real estate San Diego agent. They will make your life easier.
No one knows real estate San Diego better than us!
Home Sales San Diego is among the best and most trusted real estate agencies in the San Diego area. We can help you find the perfect home to fit all your needs, and within budget too. We provide the expertise, experience, and the enthusiasm, and we guarantee results. We’d love to lend you a hand.