Purchasing a home is one of the biggest financial decisions you will probably make. It doesn’t matter if this is your first experience with home-buying, or if you are a seasoned pro, this is a decision to be made with a lot of thought and preparation. A few things to think about – Can you commit to staying in one place for a few years? You could lose money if you sell your recently purchased home sooner. Why do you want to buy? Are you a growing family, or are you downsizing and upscaling?
Before you start shopping for the home of your dreams, you need to prepare by doing several things. Check your credit rating. Several months before you start home shopping, get credit reports from all three major credit bureaus and go over them carefully. Note any discrepancies and clear them up. Do everything you can to raise your credit score and make yourself more attractive to lenders. Build a file with all the paperwork that is pertinent to the home buying process. Having all your “ducks in a row” will help you secure financing. If you don’t already have a lender, we can help you get things in order and refer you to a lender to suit your needs. You will need copies of; financial statements, bank accounts, investments, credit cards, auto loans, recent pay stubs, copies of leases for investment properties, 401K statements, life insurance, stocks, bonds, and mutual account information. Create realistic lists of “must haves” and “would like to have” for your home as well as a budget and neighborhoods you’d like to live in.
Now you’re ready to take a drive around the neighborhoods you think you’d like to live in. If schools are an important part of the home buying process, visit the areas where you want your children to attend school. Make a list of the areas you feel will best suit your needs. We can help you narrow down and focus your search in the areas that are optimally suited for you and your family. Then we will make appointments for you to see the homes, and walk through them to make sure they fit your needs, and are a good investment.
Once you’ve decided on the best home for you, it is crucial to have an experienced agent assist you in preparing the offer. They will help you avoid the pitfalls that may pop up, investigate potential expenses associated with the new property, and can help you draft your offer in such a way that you will have a leg up over other offers. San Diego is a great place to live and the right agent can help you realize home ownership in beautiful San Diego.