First Time Home Buyer Success Tips
Are you planning on buying a home in Southern California for the first time? If so, you’ve come to the right place!
In this article, we will share with you our time-tested success tips for first time home buyers.
#1 – Get Fully Approved for A Mortgage Loan Before House Hunting
Over the years we’ve seen some home buyers start house hunting without first getting fully approved for a mortgage loan.
Not getting pre-approved can lead to disappointment when you find a home that you fall in love with but cannot afford. This is why we strongly recommend that you get fully approved for a mortgage loan before you start house hunting.
You want to know what your payment and interest rate are both going to be, plus you should also know what your down payment and closing costs are going to be as well, that way there won’t be any surprises once you start searching for a home.
#2 – Make Sure That the Area and Home Match What You’re Looking For
Even though we live in the age of the Internet where you can essentially tour a home online, you should always visit homes in person to verify if the area and specs of the home (bedrooms, bathrooms and square footage) match what you’re looking for.
Ideally, you want to stay in a home anywhere from 4 to 7 years and enjoy living there.
#3 – Verify That the Home You’re Interested in Buying Can Be Resold for Profit or Rented
Last of all, but most important, before buying your first home in Southern California you should also verify if the home can be resold for a profit once you finally decide to sell it, or if it can be rented out to a high-quality tenant.
These questions are important to verify because you may not want to sell your home in seven years. It’s possible that you could want to turn it into a rental property to generate income, make a profit and ultimately buy a bigger home.
Let Us Help You Find Your First Home
Ready to get started with buying your first home? We can help! Contact Fred Sed Realty today by calling us at (800) 921-9231 or connect with us online.