Smart Ways to Buy a Home
Planning on buying a home in Southern California? If so, purchasing a home may be the biggest financial investment of your life and you can successfully purchase the home of your dreams if you follow these smart ways to buy a home.
#1 – Understand the Financial Aspects of a Home Purchase
Before starting your home search, you should get pre-approved for a mortgage loan and then understand all of the financial aspects of a home purchase which include your mortgage, interest rate, and out the door payment.
Once you understand the financial aspects of your home purchase you shouldn’t go over budget and purchase a home you cannot afford because many home buyers have done this in the last 10 years and it only leads to financial strain, or short sale, if you’re not able to afford your house payment each month.
#2 – Know the Location
Yes, location, location, location is still important in real estate, especially if you plan on renting out the home, because most people want to live in a safe neighborhood that’s close to everything, rather live out of the way and be faced with a longer commute each day.
To know more about the location of a home it’s best to use the Internet to review the area where the home is located since this will give you the ability to know the crime rate, review school ratings and verify which shops, stores or entertainment venues are in the area.
Besides reviewing the location online, if you actually live within driving distance of the home you should visit the neighborhood during the day and night, walk the neighborhood, and speak with the people living there, to get a good feeling for if it would be an ideal location for you to buy a primary residence or rental property.
#3 – Inspect the Area Where the Home Is Located
Besides buying a home that’s in a great location, you also want to buy a home that’s in a great area too. This is a caveat of Real Estate because, you can have a home that’s built in a great location but if it’s in a less than desirable area like right next to a major road, or backs to a highway, this could affect your long-term happiness while you live there and if you’re renting the home out, you may have a difficult time finding a long-term renter.
To learn more smart ways to buy a home in Southern California, or elsewhere in the United States, contact Fred Sed Realty, today, by calling us at (800) 921-9231 or connect with us online.