Category: Tips on Buying a Home

Homes for Sale in Mission Viejo for All Tastes

Posted on | by Cuselleration

If you are looking to at homes for sale in Mission Viejo California, you’ve made a great decision. It’s one of the biggest planned communities ever built in the USA. It’s a beautiful and popular tree-lined residential city and is recognized by the National Arbor Foundation.

As far as homes for sale in Mission Viejo go, you will discover that there are quite a few ways of going about buying. With nearly 32,000 Orange Country homes being sold and bought last year, it is important to know the best way to go about it and the best people to talk to; who can help you with the best methods and professionalism to find your perfect match.

Experience Matters

 When looking for a realtor, it’s important to find one with experience. We have well over 25 years of property experience, and our expert knowledge of all the neighborhoods will professionally find the right home for you, whether you are buying or selling. In fact, getting a realtor to search for your home is really the best way to find a home. They have the expert resources to get down to business with you to find something for you that you never dreamed was possible.

Know What You Want

 It’s also a lot easier if you know generally what you have in mind because then the real estate agent can immediately rule out and narrow down the search for houses that fit your requirements. Realtors who have been in the business for years will plan with you; they will ask you questions that you might not even have considered or thought about; things like your future ideas and plans.

Research the Market

 It’s a smart idea to start your search concerning homes for sale in Mission Viejo by going online. Before the internet came along, people searching for houses would look in the classified notices of the local newspaper or pamphlets and then phone the owners or agent to make an appointment to view the home.

Today, looking for a house online has made things so much easier and much more intuitive. Today, around 92% of people looking to buy a home will start their search online, but they usually don’t look further if a listing doesn’t compel them to look inside, which means adding pictures.

Listings with images are much more likely to be viewed with interest by buyers and followed up on.

How Much Will I Pay?

 Once you know exactly the house and the neighborhood you want to live in Mission Viejo, you have to ask yourself whether you can afford the homes for sale in Mission Viejo. Some people say you must find a house that shouldn’t cost more than 3-5 times of your annual income, but that’s not always the case.

Things have changed a lot today, and people are using their homes to do their business from, giving them the opportunity for growth. If you know for sure that you are going to be much better off in the not too distant future, don’t skimp on the type of home you buy now.

You will just have to convince the bank when you apply for your loan, but it might be worth a shot.

This brings us to applying for credit for your mortgage and getting approved. Sometimes banks are not convinced no matter how you can guarantee them of better days ahead because life just happens and sometimes things don’t always work out as we planned.

Approval by a bank when considering buying homes for sale in Mission Viejo is, therefore, an important consideration, and you might have to try several banks to get approved for credit for the mortgage on your new home.

How to Choose the Right Realtor

The correct real estate agents will know all the ins and outs of buying real estate, and if they don’t, you need to find someone else. That means once you and they have found your ideal place, you will need to have the home inspected and evaluated.

This will reveal whether you are overpaying or worse if the house might be hazardous. A thorough inspection will reveal if your house is safe. Then you will have the power to bring down the price if you want.

The seller will need to repair the faults before the deal is done. After that, an appraisal of your new home will give you an excellent idea of what your house is worth and if the price is reasonable.

When thinking of homes for sale in Mission Viejo, it is no wonder many people dream of having a finger in this pie; especially if it’s, for example, at Mission Viejo Lake with the beautiful homes surrounding the lake.

Make it Happen with One Call!

Want to find homes for sale in Mission Viejo? It’s so easy with the Kovacs Connection on your side! If you need any advice or tips, feel to call us at 949-350-0146, or you can email us as well at Debrakovacs@cox.net. We have plenty of tips to help you and several services to offer!

3 Ways to Find A Property in Mission Viejo

Posted on | by Cuselleration

It’s not hard to find a property in Mission Viejo if you know what you’re doing. Unfortunately, most of us don’t! That’s more common than most people think, but we’re going to arm you with some information to make your home search much easier.

Searching Online

First and foremost, we suggest looking for homes online. This works for you in two major ways; you’ll see what the advertised prices are and get a feel for what home styles are are available in the areas you’re looking. When trying to find a property in Mission Viejo, we suggest looking at an MLS site (multiple listing service.)

The huge benefit to searching MLS is the granddaddy of home information. In fact, they contain information that no other newspaper or online listing will have. You can sign up for emails through an agent, but even these emails won’t be very detailed when compared to the information that an agent will get from the website.

This is just the way it is, but you will be getting a more inside scoop on what is available than you would on other consumer websites. This brings us to our next big tip…

Get A Realtor

Hiring a realtor is going to be the number one way to find a property in Mission Viejo, for the exact reason that we just talked about. They have access to resources that the average person just doesn’t. The other important thing they can do for you is help you find a home by your preferences.

Knowing what type of home you like and what you require from your home is a crucial step in the process. Not knowing these details is ok, that’s why getting a real estate agent is so important. Talking about the styles you like and the needs of your home will allow them to narrow the search scope so that you’ll only be looking at homes that are a good fit.

Another important thing to consider is your plans for the future. You may not have any plans cemented in your head yet, but a realtor knows the questions to ask to better place you in a home that will fit the needs of your future household.

If you don’t have kids but are planning to, or you plan on getting an English Mastiff and are looking at homes without a yard, your realtor can steer you in a direction better suited for your family down the road.

Be Honest With Yourself

Being honest about your wants and needs is the most important thing about the home buying process. It is, of course, important to be able to make enough to pay the mortgage, but if you know in your heart that you are going to be spending big on lavish trips or shopping for a wedding, that might be something you want to do before signing a mortgage. The last thing you want to do is set yourself to fail.

Another thing that happens often is people get wrapped up in a good deal and don’t consider the possibility that they might be unhappy in that home. Getting a home at a steal is incredible when it happens.

But, if it doesn’t fit the needs of your future household or catch your interest, then maybe your should pass. The only time we think that it is a good idea to go ahead and get a property that you aren’t interested in living in is if you’re planning on flipping it or renting it out.

Lastly, don’t buy a fixer-upper home if you don’t have the know-how or capital to fix it up! It might be fun to find a property in Mission Viejo at a huge discount, but if you’re planning on doing a “Do It Yourself” renovation, and you have no experience in DIY home repairs, you may want to rethink the situation.

Buying product to fix a home can add up, especially if errors occur and you need to buy it a second or third time. Also, if you haven’t done a home makeover and are hiring someone to do it for you, just know that quotes on the home renovation tend to always be under the actual amount and they don’t typically stay on schedule.

That’s just the nature of home improvements because once you start, you generally find more issues than you thought were there at the onset. Do yourself a favor and be honest with yourself and your expectations before going all in!

We Can Help!

If you’re still trying to find a home in Mission Viejo and need a little help from a professional, please call us at 949-350-0146 or email us at Debrakovacs@cox.net and we can discuss your future dream home!

How to Get the Best Realtor in Rancho Santa Margarita

Posted on | by Cuselleration

Whether people are buying or selling their first or tenth home, they always want to know who the best realtor in Rancho Santa Margarita is. Unfortunately, the answer to that question is not easy. The reason it is so difficult is that there are no specific criteria to judge who is the absolute best in real estate.

Take two different real estate agents, one has the quickest sales, and the other has the highest customer satisfaction in a given town. Each is qualified in their own way, and both of their clients are likely satisfied. So, can you say one is better than the other? No, because the one that is the best depends on what qualities you are looking for in an agent.

In other words, you need to figure out what characteristics matter the most to you and make your choice based on your criteria.

What is Their Specialty?

Some realtors are great at selling homes, others at finding and negotiating the best price for your perfect future home, then there are buyer’s brokers, dual agents, discount brokers, and e-brokers. What does all of that mean?! Let us help.

Realtors

Regular realtors typically make their commission on the sale of a home, which means they will often keep quiet about any problems with the property and try to sell homes as quickly as possible. This is great if you’re selling because that means that they have your best interest in mind.

Buyer’s Broker

For buyers, a buyer’s broker is probably the better option. This means that they will be on the buyer’s side, and they will do everything in their power to find you that perfect home you’re looking for. As a buyer’s broker, they will actively search out any problems with a home to ensure that you aren’t buying a lemon.

The thing to be conscious of is that you will either be paying them a commission based off of the price you buy the home for, or an hourly wage for their help. The best thing about hiring them is they will keep everything you say confidential.

Dual Agents

Dual agents can work for they buyers or sellers and typically work in a conventional real estate office. This means that confidentiality that you get with a buyer’s broker does not apply for them. That doesn’t mean you can’t trust them, but it does mean that information you give them about your interest in the home can potentially be shared with the owners.

To save yourself from being represented by an agent that is helping you buy, and the owners sell, look for a Split Agent. They may do the exact same job as the dual agent, but they don’t represent both parties in any transactions.

Discount Brokers

Discount brokers will typically save you money, but you will be trading your time for it. Discount brokers don’t charge as much on commission, but they also don’t offer the same level of marketing resources that a conventional realtor would.

E-Brokers

E-brokers don’t own a location, which saves them a great deal on renting a business property and allows them to charge less. This means that you will be doing the majority of the legwork yourself, like finding homes that you might like, and they will just set you up with someone to show you the homes you’re interested in.

Knowing what you need, what you’re willing to pay, and how much time you’re willing to spend to save money are the main things to consider when choosing a realtor type.

Don’t Let an Agent Buy Your Listing

The best realtor in Rancho Santa Margarita will not tell you that they will sell your home for much higher than their competitors or what the market price is at the moment. A realtor that makes these promises is trying to push the buttons that make you act without thinking.

Going with them will only benefit themselves because the promises they made you are false, and you will be stuck with someone who is willing to stretch the truth just to get business. If they are willing to lie about something like that, what else will they lie to you about? These are the realtors that make you feel like real estate is a shady business; stick with an honest realtor, and you’ll enjoy the entire process!

 

Interview More Than One Candidate

Now that you’re armed with the information you need don’t just pick the first realtor that seems ok. If you want the best realtor in Rancho Santa Margarita, you’re going to need to interview a few to see who fits your needs.

You’ll want an agent that can do the job, but also one that fits your personality and does things ethically. You ought to consider seeing them in action at one of their open houses if the interview goes well. You might be between a few agents, even after interviewing several, but going to an open house might just be the information that you need to make the right decision.

Let’s Get Started

Getting the best realtor in Rancho Santa Margarita is easy, just give us a call at 949-350-0146 or email us at Debrakovacs@cox.net so we can help you today!

Popular Styles of Homes for Sale in Coto De Caza

Posted on | by Cuselleration

Looking at homes for sale in Coto De Caza isn’t hard if you know what you want. Not everyone does their research before going out and looking for a home. Figuring out your top styles of a home will significantly reduce the amount of time you will spend looking at homes that you won’t be happy with.

The types of homes out there all have their perks and pitfalls. Just how smaller homes are more energy efficient but have less space, different styles are better suited for your needs than others. Many of the styles came from a historical origin, and others serve a purpose for the environment they were created in.

We’ll talk about some common styles and why you should be considering them for your next home purchase!

Cape Cod

Now, this may seem a little out of place seeing as it is named for a style of home made popular on the other side of the country, but it’s the beautiful design that makes it suitable for Southern California as well. Many sought after homes for sale in Coto De Caza are actually considered this style.

Cape Cod style is known for having steeply slanted roofs and larger than average chimneys. This was inspired by cottages but adapted for the harsh winters in Cape Cod way back in the 1600’s. The purpose of the original design may not be necessary in SoCal, but the other features make it an attractive style to build anyway.

What features?

Tons of windows! Windows both on each side of the door, and directly above them on the second floor. They are also known to have cedar shingles, but that isn’t absolutely necessary to be considered a Cape Cod.

If you’re looking for a home that feels quaint while never skimping on space, you should consider the Cape Cod style in your search.

Contemporary Vs. Modern

Contemporary homes are very well-liked and actually different from the Modern style homes. While they are similar in aesthetics, the contemporary style is fit for the future.

Contemporary homes for sale in Coto De Caza are going to be much more energy efficient than their Modern counterparts. They will utilize windows intuitively for getting the most out of the sun’s natural lighting. They will also use the newer technologies in lighting, plumbing, and possibly even allow for the addition of solar panels.

In addition to being energy efficient, they are built with more eco-friendly and sustainable materials. Being contemporary basically means using safer quality materials that will save you a lot of money down the road.

While Modern and Contemporary have several similarities in the way they look, both internally and externally. The difference comes down to whether you want to pay a little more for a more earth friendly home built with nontoxic materials.

We think that going Contemporary if you’re leaning in that direction, is an excellent choice that may just make you money if you decide to sell in the future. Many home sellers have to do costly repairs before the home is ready, but you might save yourself the trouble by going with the more sustainable materials.

Spanish

Unlike the Pueblo Revival style, which is inspired entirely by the indigenous natives of Northern and Southern America, the Spanish style pays homage to European ancestors. The Spanish style does incorporate a bit of the Native American architecture and blends them with a Mediterranean design.

The bulk of the Spanish style best resemble the old missions, of the 20th century. They usually have arched porches, arched corridors, clay roof tiles, bell towers, and square pillars.

Many different layouts exist, but they will frequently have many of the previously mentioned features as well as quatrefoil windows that take on the appearance of flowers. Quatrefoil windows have the appearance of a four-leaf clover, having four circles coming from a central point.

This is one of the best parts of the style because so much can be done with these types of windows. If you’re looking for a little inspiration, you can take a look at examples from history by googling it. This kind of window was very popular in older European churches, and many still stand today!

Let’s Talk

We’ve covered a few of our favorites, but there are so many other home types out there to choose from. If you’re still trying to figure out what styles of homes for sale in Coto De Caza are right for you, please call us at 949-350-0146 or email us at Debrakovacs@cox.net and we can give you more information on everything this beautiful town has to offer!

How to Locate the Top Realtor for Finding a Home Near You

Posted on | by Cuselleration

Getting the perfect new home isn’t an easy task, which is why you need to hire the top realtor for finding a home in your area right away. But just how do you find the top realtor when each and everyone claims to be so great?

There are a few ways to separate the best from the rest that we think will really help you out with your search.

A Long Time in Business

It may not be the absolute best marker because it is unfair to the newer realtors who might be incredible, but it is effective. Real estate agents that have been in business for a long time are successful; otherwise they would be out of business.

There is one obvious drawback to using this method we should mention, however. It isn’t just the company they work for that you should be paying attention to, but the realtor themselves. If they work at a big national real estate company, and they have been a realtor for 12 years, that doesn’t necessarily mean they’ve been with them for 12 years.

Find out if the realtor you are considering has been with the same company for a while or if they have been bouncing around from place to place. It may just happen that they are new to this company and could have a poor record previously.

The opposite may also be true, but find out through casual conversation how long they’ve been around at their current company.

In the smaller realty companies, particularly with the name of one or more realtors in the company name, it’s usually a pretty safe bet that if they share the name is on the door that they are good. The only way to get your own realty company is by making a good amount of money doing exactly what you want them to do in order to afford to get their business started.

The Credentials to Prove It!

When it comes to finding a home, a top realtor will likely have gotten some awards along the way. When you meet with them in their office, all you will have to do is look around. Most will have their license and awards posted all around on the walls.

Those that have quite a few awards on display usually have a good deal of skill, as they don’t just hand them out to everyone. Don’t get us wrong, if they don’t have awards all around that isn’t necessarily a bad thing. But having some awards is undeniably a huge bonus!

You may also want to quickly walk around the room and take a look at all of the awards. We’ve never heard of anyone putting up fake awards to impress potential clients, but these days you can’t be too careful.

While you’re taking a look around, check to make sure the license is real and everything is up to date. Again, it doesn’t hurt to be careful.

Ask Your Friends

We know you’ve probably heard to ask for a referral a thousand times, but we suggest only asking specific friends for their recommendations. Who do we think is the best to ask? The friends of yours who have bought and sold a house at least once if not multiple times.

Knowing people who upgrade their home every few years or that flip homes is a great source of information. If they have a trusted realtor in your area, you can be pretty sure that they are at the very least up to the challenge.

The friends that don’t live in the area might be able to ask their realtors opinion about who to go with in your area. The real estate world may seem huge, but for the most part, it’s actually a pretty tight knit community. This is great news for you!

Since everyone knows each other, it is a pretty sure bet that your realtor will either know the top realtor for finding a home in your area, or know who the best is. This is an excellent way to slim down the competition without having to do a lot of legwork.

You may want to ask your parents or your neighbor with the house slightly better than yours, but if they haven’t done multiple real estate transactions, don’t bother. They will usually point you in the direction of their real estate agent, and they might not even know if they actually did a good job or not.

Still Not Sure?

The top realtor for finding a home in your town will likely be the top at selling homes as well. That’s because they will usually be the best, and have the best team working with them.

If you’re looking for the top realtor for finding a home near you, call us at 949-350-0146 or email us at Debrakovacs@cox.net or realestatebyrana@gmail.com and we’ll help you get a home today!

Finding Beautiful Homes for Sale in Rancho Santa Margarita

Posted on | by Cuselleration

Shopping for new homes for sale in Rancho Santa Margarita doesn’t have to be as difficult as it may sound. We have compiled a list that you should check off as you from open house to open house to find the right home for your needs.

Location

Location, as they say, is everything. When considering all of the homes for sale in Rancho Santa Margarita, don’t take its physical position as the only piece of information when determining whether or not to buy.

The distance the home is from your work, or at the very least the nearest freeway, is something to consider seriously. Few people want to be so close to the freeway that you can hear the cars, but you don’t want to drive 30 minutes of streets to get to the highway you need either.

Having children means figuring out where you need to live to get them in the district that you want them in (if you are even looking into a public school.) Another thing to consider is how close you would be to city parks, and anywhere they will be for reoccurring extracurricular activities. If you are steps away to their school but 45 minutes away from their piano teacher, you might want to look somewhere in the middle of the two.

Size

When it comes to homes, size definitely should matter. This goes both directions though. You want a house large enough to accommodate the needs of your family, and possibly for the event of a growing family.

When looking at homes for sale in Ranch Santa Margarita, don’t just go with the bigger is better mindset. Especially when it comes to the square feet of your property. If the home is huge, but you have no yard for your dogs and children to play in, you may want to reconsider. The same can be said about the opposite situation, a 2-bedroom home for five people probably won’t cut it, even if you have all the backyard you could ever want.

Finding something that meets the needs of everyone, and allows some space for fun and hobbies is the way to go. Take everything into account about the house, the activities your family enjoys, and even the plans for the future before blindly signing a contract!

Cost

Of course, the price matters but for more reasons than just the actual price of the home. Buying a dream home is an amazing feeling, but only if you can truly afford the dream.

Making the necessary payments on your mortgage, property taxes, homeowners insurance, car payments, car insurance, field trips for the kids…getting the idea yet?! Things come up, and life can be expensive. What we want everyone to do ahead of time is figure out if buying the home and still having a life are possible.

Owning the dream home, but not being able to afford to do go out to dinner or the movies is not fun. If you have to work extra just to go camping in your own backyard, you have a major issue!

Having the right amount of money for everything that your family wants is vital, so finding a home that allows you to have activities still is essential. If you can’t afford the house you truly want, don’t worry! You can always sell your home down the road and use the money to secure something better.

When in doubt, ask yourself the most important question: do I really want to be living on a budget for the next 30 years?

Get Help

Going about buying homes for sale in Rancho Santa Margarita alone is a mistake unless you are a realtor yourself. For the majority out there who are not, get one!

A good realtor will be able to help you find something that will allow you to continue to live the life that you have imagined for your family, without running the risk of putting you in the poor house. Let’s face it, we all overestimate how well we can handle a financial situation, but realtors have the foresight to make sure that you can manage the mortgage along with all of your other expenses.

Don’t just sit around looking at realty websites, hoping that you can someday own a home. Call The Kovacs Connection at 949-350-0146 or email us at Debrakovacs@cox.net and we can help make your dream a reality. We know all of the homes for sale in Rancho Santa Margarita, and we will match you and your family with the perfect house immediately!

Pros and Cons of Buying Foreclosures

Posted on | by Cuselleration

Everyone has seen a sign at some point in their life on a foreclosed home. While it may be a sad situation for the previous owner, you can’t help but think about the possible benefit to yourself of buying this home and selling or renting it. The question is: “is it worth it?”

Foreclosures come in all shapes and sizes. You can find pristine homes with huge ceilings and vast acreage, and you can find homes the size of a broom closet that are in total disrepair. The fact is, buying a foreclosure is more often than not going to require some work on your end to get the property in an inhabitable state.

Still interested? Great! We’ve compiled some pros and cons to help you with your decision.

Pro: Financial

You stand to earn money from your purchase if you plan on selling or renting the property. You may need to put some repairs into it to get it attractive to buyers or renters, but a big payout from flipping or a steady monthly rental income both come with a huge bonus: more money!

However you go about it, foreclosures are an excellent way to get a home under the market value and use that to make you a lot more money. Just be sure to do your research, everyone is still trying to make money, and you can easily overpay if you aren’t careful.

Con: Repair Costs

The huge benefit of buying a foreclosed home will be totally lost if the repairs needed amount to thousands or hundreds of thousands of dollars. This is why you always need to get the property inspected before you buy.

Homes that look great can have serious foundation problems, or the owner could have been doing patchwork for years on the roofing. Whatever the case, the property may look fully functioning, but without getting an inspection, you may stand to lose money.

Be careful, get inspections and realize that a home that needs multiple repairs might just turn out to be a money pit if you don’t have the funds necessary for to get the property functional.

Pro: Upgrading From Your Old Home

Finding a foreclosure in a better area of town, a better town, or just a better home on your block at a low price is a tremendous opportunity. This will allow you to upgrade your lifestyle immediately, and who doesn’t want that?

The added bonus to this scenario is, if you already have a home, you can spend a minimal amount of time fixing it up and sell it for above your purchasing price. Then you can use this money in a number of ways like creating a nest egg, buying and selling more properties, or just pay down your new mortgage (as long as there is no penalty for doing so, in other words, get this kind of mortgage.)

The benefits of this situation aren’t just financial; they can be felt by your entire family when you move to a better town. You will likely move to a cleaner city, it will probably have better schools, and it might just have better services provided by the city.

For example, many more well off towns hold events for its inhabitants like the Christmas event in Manhattan Beach. Also, better cities hold more opportunities because the people around within them are usually more successful.

Upgrading your home may just set you up to change your career and improve your entire family’s life.

Con: Speaking of That Mortgage

Most lenders aren’t fans of offering standard loans on foreclosed properties. This is due to the value and the condition of the house.

The value may be extremely low because of the condition it is in. This is a double strike against you getting a mortgage.

Why?

Most mortgages need a home to be of a particular value to qualify, and they also have to be in above a certain level of condition to be eligible.

This is fine for the non-fixer-upper properties, but those needing extensive work will require an extensive search for a mortgage lender. Unfortunately, the laws require that foreclosed properties be sold as is, so there isn’t a chance to improve the quality of the home for them to sell it to you in order for you to find a mortgage lender with less stress.

Don’t let that stop you though! Foreclosures are still a great opportunity.

If you’re looking to purchase foreclosures and need help, please contact us by calling us at 949-350-0146 or emailing us at Debrakovacs@cox.net and let’s talk about your options today!

Photo Credit: Pexels-Photo

First Time Home Buyer Help That Works

Posted on | by Cuselleration

The real estate world can feel like a big and scary place; this is why we always offer the first time home buyer help. Going in guns blazing will only cost you a lot of money. It’s great to have enthusiasm, but it’s even better to some knowledge and research to back your every move.

Here are some tips that will help any first time home buyer seem like an expert and get you a great deal in the process:

Home Markets, Where Are They?

“This home is only $300K? That’s great! We were considering spending much more. Where do I sign?!” Stop, breathe, let’s go about this slower.

Had you researched the neighborhood, you would have realized that this home is only worth $225K and you were about to overpay big time!

Do your research.

Have you ever been looking at homes in an expensive area, such as the Hamptons, and then compared the same size houses in the middle of rural Ohio? You might not be shocked to see the price difference to be several million dollars, but they are in entirely different states, so the price difference makes sense.

The same thing happens between bordering cities, and even neighborhoods within the same city for reasons such as accessibility to freeways and malls, nearby schools, or even the crime rate of the area.

Doing some research will ensure that you don’t make a huge mistake and overpay for a home in an unsafe neighborhood.

Can You Even Pay That?

First, you want to figure out what your mortgage would be; you can easily find a mortgage calculator online to help you determine what your monthly payment would be.

Next, you want to factor in the closing cost, depending on the home, it is not unusual to pay upwards of $15K on closing costs. If you weren’t expecting to pay this on top of the price you agreed on for the home, you might just be in big trouble.

Then figure out what your monthly expenses as a household would be. In other words, add up the internet, gas, electricity, expected grocery bill, and any other monthly expenditures you incur and add them to your mortgage payment.

Now you’re getting much closer to what you’ll be spending every month, of course, try to have some financial wiggle room in case of an emergency.

Last, figure out your budget. With all of the expenditures added up, what will you have left over? Is it enough to live comfortably, or will you be risking a missed mortgage payment every time you take the family out to a monthly dinner?

If you can barely make everything work and don’t have much leftover for savings and fun, you might want to consider a different home. There is no shame in choosing a different home in order to avoid a foreclosure down the road. In fact, the smart move is to take this into account and travel towards the more affordable home.

You can always sell your home and upgrade down the road!

Get Your Money!

You likely don’t have the money for the house upfront, so you’re going to need to get a mortgage to be able to afford it. Well, you should take a few steps first.

Checking your credit is ground zero in the loan process, if you don’t know it, find out immediately. If your credit is good, move forward, if it isn’t you might want to consider taking some action over the next few months to raise your credit score.

The interest rate a good credit score can get you will save you tens or hundreds of thousands of dollars. It is crucial to try to have your credit at its absolute best when applying for a loan.

After you get a better credit score, it’s time to choose a lender and get preapproved. You actually have several options. Big banks, most credit unions, and even the government offer mortgage loans.

Each of these institutes will have its perks and pitfalls, so be sure to shop around and try to get the best interest rate you possibly can. If you’re able to take your time, between an increased credit score and some careful shopping, you can easily save yourself $100K over the next 30 years of your mortgage.

This just happens to be one of the most overlooked tools for first time buyers, don’t be like the rest of them. Take it slow and push for the absolute best deal, your bank account will thank you some day.

If you’re a first time home buyer and need help that will get you into a great home quickly, please contact us by calling us at 949-350-0146 or emailing us at Debrakovacs@cox.net or realestatebyrana@gmail.com and we can help you today!

Photo Credit: Shutterstock/Jirsak

5 TIPS FOR BUYING A HOME

Posted on | by Cuselleration

Looking to buy a home? Here are five essential tips for making the process as smooth as possible.

Get your finances in order.

Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house.

Find a house you can afford.

As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.

Hire a professional.

While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.

Do your homework.

Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.

Think long term.

Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future.