What to Know About Buying a Home in San Jose

 Congratulations on buying a home. Whether it’s your first time you’re buying or your 10th time, you probably don’t do this on a daily basis so understanding the logistics and how to go about wisely buying a home is definitely something to know. I want all my buyers to be well informed so they feel comfortable and confident purchasing a home.

Is it the right time to buy a house?What to Know About Buying a Home in San Jose

This is a very common question and whether you are in the market or considering down the line, it’s still an important question to pick the right timing. What about interest rates? The housing market? Is the buyers or sellers market? These are important questions that change as often as the market does but one thing remains; is it the right time to buy a house for you? Do you need to upgrade to a larger house? Downsize after kids have moved out are you looking for a low-maintenance home such as a townhouse or condominium or are you looking to expand and would like a little bit of acreage, a yard, or garden? Regardless of the reason you want to buy a house, there are a few steps to take to ensure you’re getting the right house at the right price.

What to do first,

Most potential buyers look at homes first and that’s natural. It can be exciting to look through a variety of homes, styles, and neighborhoods to find what you really like and while this is okay, it’s best not to get your hopes up because chances are that house might not be available when you are ready or you might not even be able to afford it.

One of the first steps before looking at homes (even though I know you’ve already done it) is to find out how much home you can afford. This means either going over your finances to discover you can pay cash or how much you need to finance.

If you need to finance the house you want to sit down with the lender and shop around for the best loan. Mortgage lenders and mortgage officers can typically pull from a pool of different mortgages to find the best rates and terms for your needs and budget. Lenders will look over your assets, liabilities, debt and income to determine how much you can actually afford in a monthly mortgage payment. This will be converted into the full price of the house giving you an idea of price range.

Once you know the price range of where you can afford, it’s easier to narrow down your search to the right type of house, size, and location to that price range.

Use a buyer's agent.

I always recommend using a buyer's agent rather than going it on your own. There are so many legalities to buying a home that you don’t want to be taken advantage of so having an agent on your side working only for you is really the best way to go. As your agent, I can send you a variety of properties that fit your search criteria and price, some of which may not even be on the market just yet. Using an agent definitely has its advantages.

After you’ve picked a few homes that you’d like to see closer, I recommend driving by to see if the neighborhood and the commute works for you. If you're ready to see certain homes, let’s set up a tour. I’ll contact the seller and will make arrangements to see the house up close. Once you’ve chosen a house that you love, we can inquire about making an offer.

After we’ve worked up a solid offer we simply wait for the seller to accept, reject, or counter the offer. After mutual agreement then we can move on to home inspection and finalizing your financing.

Never neglect the home inspection.

What to Know About Buying a Home in San JoseThe home inspection is a crucial part of the home buying process. Your spending hundreds of thousands of dollars so it only makes sense to learn as much about the investment as possible. You can choose any home inspector you wish but I do have a few that I recommend. These are qualified, reliable, and experienced inspectors that can offer tips and advice on the property. However, it is ultimately up to you, the buyer, whether you choose to move forward with the transaction.

Once the home inspection contingency is satisfied we can move on to closing. During this time I recommend packing up, finalizing any financing, and answering any questions from escrow, title, or your lender that might arise. Answering these questions in a timely manner will keep things moving along nicely.

Once you sign the final documents and the transaction closes you can receive the keys to your new home. I’d love to welcome you to the San Jose Valley and whether you’re buying in Almaden Valley, Blossom Valley, or downtown San Jose, I know that we can find the perfect dream home.

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