Buying an Orange County home is an exciting and life change experience. This is especially true if you are someone who has been renting for a while and is ready to jump into the Orange County real estate market.
In the first part of this three part series, we’re going to cover the top home buying tips that you need to know for buying an Orange County Home. These tips will provide you with the foundations that you need to start the home-buying process.
What Can You Afford?
The first tip to buying a home in Orange County is to ask yourself what kind of a Monthly-Mortgage-Payment you can really afford because, just because it’s a great time to buy a home, that doesn’t mean that it’s the right time for you to buy a home.
To factor in how much of a mortgage payment you can afford you should factor in things like your bills, debts and cost of living expenses that you have to pay every month, before your mortgage payment and then the money that’s left over is what you can afford.
Save At Least 20 Percent For Your Down Payment
Yes, you should save at least 20% for the down payment on your home and more, if possible because, a larger down payment means that you ultimately will have a lower monthly mortgage payment (depending on your credit) and this will ultimately make your life a lot easier in the years to come.
To learn more great tips about buying a home in Orange County, call Fred Sed & Associates today by calling (949) 272-0125.