Top 10 Tips for First-Time Homebuyers in Blossom Valley

Tips to Guide You in the Home Buying Process

Buying a house in Blossom Valley

Buying your first home is an exciting time in your life! It is often considered by many to be one of the largest purchases you can make, and it can be a very stressful time. The key is to understand the process and be prepared.

Here are 10 tips for buying your first home in Blossom Valley San Jose, CA.

1. Reach Out to a Trusted Realtor

As a local Blossom Valley Realtor,  can help you get a game plan together for getting you into a home. A realtor can also be a great source of information and tools. An experienced real estate agent who knows the area you're looking to buy in especially well can advise you on market conditions and whether homes you want to make offers on are priced properly. Interview several prospective agents to get a feel for who may be a solid match in terms of personality and expertise.

2. Get Pre-Qualified

It is important to know how much you can afford and what type of loan programs are available to you. Speak to a lender about what you need to do to qualify to purchase a house.

3. Be Realistic

Look at your total expenses to determine a house payment you feel comfortable with. Don't forget to include real estate taxes, homeowner's insurance, and HOA fees when setting up a budget for a new house.

4. Create a Wish List

Determine what you are looking for in a house. Make a list of needs or must-haves as well as your wants. You may need to compromise so make sure you know what features are most important to you. Along with pinpointing your neighborhood, narrow down your preferences for the home itself. What type of house are you looking for? What can you compromise on? What are your dealbreakers?

5. Keep an Eye on the Market

A realtor can set you up with a market report to inform you where housing values are headed, how long properties are staying on the market, and more.

6. Keep an Eye on the House that is Listed

A realtor can also ensure you receive all the new listings in your inbox.

7. Save as Much Money as You Can

While preparing to purchase a home, be frugal and cut your expenses. Not only will you need the money for your downpayment and closing costs, but other fees will also be involved in buying a home such as a home inspection fee.

Jon Sexton of Benchmark Realty had this to say about saving money when dealing with the real estate market. 

"If you opt to shop for houses below your budget, you will have some leverage to go above the asking price in the event of a bidding war.  In budgeting, think about not just how much house you might be able to afford, but how much in recurring costs you can handle once you've purchased your home."

8. Know What Your Expenses are Going to Be

As your Realtor, I can provide you with the closing costs so you know how much it will cost you to purchase a home. Even when you see the home of your dreams, don't be afraid to negotiate the price with sellers. Consider offering under the listing price or asking for concessions, such as the seller helping cover some closing costs or repairs.

9. Choose an Area

Start checking out different areas in which to live. Drive through the community at different times of the day. Get a sense of the area before even looking at home interiors. 

10. Learn the Home Buying Process

We can can review the steps to purchase and close on a new home. Knowing what comes next at each step helps make the process easier. The home buying process can be a tricky thing, and to understand it, you first have to learn what it entails. First, I always recommend checking your credit by pulling your reports and fixing and monitoring your credit. Compare and shop mortgage lenders by comparing rates from at least three different types of lenders. Get pre-approved by a lender, telling you how much you will be offered for a mortgage. Lastly, look for downpayment assistance through local, regional, and national programs.

The Bottom Line

For a first-timer, buying a home can feel overwhelming and endless. Breaking down the process into steps and tackling them one at a time can help you stay focused and get the job done. Doing your research in advance and working with a trusted real estate agent can help you stay on track throughout the process. Let us at Homeowner Experience Real Estate guide you in finding your dream home to settle in the picturesque Blossom Valley San Jose, CA area today!

Post a Comment