Preparing to purchase a home in San Diego is an exciting journey and can also have so many steps that it becomes overwhelming. Fear not, we have you covered from the first moment that it becomes a thought, all the way to the closing table and beyond. For a simple start, read below for a list of 5 steps to help you get started on your journey to homeownership.
1. Know Your Budget
It’s important to know much you are comfortable investing into your monthly home payment. Take into consideration the actual mortgage amount, taxes, insurance, utilities and the ability to pay for fixes and repairs. We offer tools that will help you determine these basic aspects as a part of our San Diego Buyer Process.
This knowledge in conjunction with the pre-approval process will help you narrow down your search and ensure that you don’t end up looking at homes that are out of your price range. As well, it’s important to ensure we don’t skip viewing any homes that you may not have realized that you do qualify for. Understanding your budget, your lifestyle and what housing cost you are comfortable with can be different than what you actually qualify for in a mortgage. Which then takes us to the next step. . .
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2. Get Pre-Approved for a Mortgage
It’s important to get pre-approved for a mortgage before you start touring homes. This will help you determine what price range you can afford and will also show potential sellers that you’re serious about buying. In fact, many seller’s will not consider your offer if it is not submitted with a pre-qualified letter from a reputable lender. If you are in this very initial phase of the process, reach out as I can help connect you with good lenders so you can find the one that works with your needs and your style.
3. Research the Neighborhoods
Take some time to research the neighborhoods you’re interested in. Depending on if this is a primary or vacation home, you may consider factors such as proximity to work, schools, public transportation and other important lifestyle amenities. Key metrics to also consider could be price-point, style of neighborhood and proximity to important amenities and lifestyle factors such as your favorite gym or the beach.
4. Create a Must-Have’s List
If you are looking for homes in a market with lower inventory, you may not be able to get everything on the list you want, so it may be helpful to have a list of non-negotiables which are your must-haves. It’s important to note what cannot be changed, such as the property location, or may not be easily changed, such as the HOA rules around visiting pets.
There are also things that can more easily be changed such as the paint colors, adding an AC unit, a backyard pool and even many layouts can be modified as well.
When you have take the time to note your non-negotiables, it will be a valuable reference guide when touring homes. It’s rare to find the perfect home without investing some time and resources to make it a little bit more “yours.” Thus, it’s important to know what is and is not a deal-breaker so you don’t miss out.
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5. Hire an Experienced Agent
In fact, I would actually say that reaching out to an excellent agent should be your first step. A professional agent can offer time-saving resources, advice and contact information for key people that will help make your journey so much easier and less stressful.
Disclaimer: We do our best to source factual data from the best resources out there. However, it’s always advised for consumers to perform their own due diligence, confirm accuracy and consult a legal or real estate professional. All information is deemed reliable but not guaranteed.