There are many compelling reasons why you might decide to buy a house in California. Not least the fact that the buying process is a relatively simple process.
If you look at new homes in Tracy CA, for instance, you will be instantly attracted to living in this part of the state. If you have decided that owning a home in California is what you want, here’s a look at the simple steps you need to follow.
Get your down payment sorted
If you will require a mortgage to help buy your home in California it’s a good idea to work out how much of a deposit you might need.
You will likely need a minimum of 3% of the purchase price as a down payment. Every mortgage lender has different borrowing criteria, but it is likely you will need at least $20,000 to be able to cover the down payment and related fees based on a typical purchase price.
Have your mortgage offer sorted
It’s a good idea to get yourself preapproved for a mortgage before you start looking around for a suitable house to buy.
You will be in a stronger position to have your offer accepted once you are viewed as a qualified buyer.
Find the right mortgage deal
It is important to remember that you don’t always have to proceed with the first loan you get approved for.
Once you find the property you want to buy, check whether you might be able to get a more competitive loan offer.
Get to know the property market
A smart move would be to get to know the local property market and learn about neighborhoods you are interested in moving to.
Al local real estate agent can often provide valuable insights and help you find a selection of properties that meet your criteria.
If you are buying a new property, you can also liaise with the selling agent and ask all the questions you need answers to.
Look at a few properties before making your final decision
Sometimes, you see a property that you just know will be your perfect home and decide to go ahead and buy. However, it often pays to look around at a few comparable properties and areas just to make sure you are happy with your choice and location.
Negotiate the final purchase price
The sale price might be negotiable. Check to see what the vendor will agree as a final price and you might be able to make some savings by paying less than the original amount being asked.
Arrange an inspection and appraisal
Even when you have had your offer accepted you still need to get through a review period before the deal can close.
During that time, you will need to arrange an appraisal for the lender. It is also advisable to arrange an inspection if you are buying an older home that doesn’t have any guarantees.
If you are buying a new home you will have the assurance of knowing that the workmanship is guaranteed for a period of time.
If you follow these easy steps you could soon be living a new life in the Golden State.