As Orange County Realtors, we frequently encounter first time home buyers who have concerns about purchasing a home in Orange County.
Let me ease your mind by saying, the concerns you have as a first time home buyer are completely natural, and almost every home buyer, no matter where they live in the world feel many of the same feelings you do.
In today’s post were going to cover the top concerns that first time home buyers have so you can be better prepared about what concerns might come up for you if you’re planning on buying a home in Orange County for the first time.
Is Buying A Home In Orange County Really A Good Investment?
Yes, buying a home is a great investment, especially if you’re buying one in Orange County. Home values have risen as much as 22% here over the last year and they are only expected to continue rising in 2014 and beyond. Even though Real Estate prices have appreciated so much, many areas of Orange County have consistently held their value better than most other areas in the state due to mild weather, a good job market, and many schools that are among the best in the state.
There Are So Many Homes, What Should I Buy?
Good question! The home that you purchase should be based on the mortgage that you get pre-qualified for as well as other things like: square footage, bedrooms, bathrooms, amenities and how close you want your home to be to schools, shopping etc.
I’m Afraid I Won’t Be Able To Get Pre-Qualified For A Mortgage
Almost everyone has the initial fear that they won’t be able to get pre-qualified for a mortgage loan. The reality is that there are so many types of mortgage loans available today including: HUD, FHA and VA that you stand a great chance of qualifying for a mortgage loan in today’s world than you may have a few years ago. Not to mention, you may qualify for a federal tax credit as well. Talk with your mortgage lender about this as it may help increase your purchasing power.
What If I Don’t Have Enough Money For A Down Payment For A Home?
This is another common question and the reality is that you don’t have to worry about this either because, there are many options that you can turn to for getting into a home without having to pay a lot of money for a down payment that you can’t let this concern stop you from searching for a home for sale in Orange County. Here’s a post we recently did on Down Payment Options.
To learn more about what’s available on the Orange County Real Estate Market contact Fred Sed & Associates today by calling us at (949) 272-0125.