If you are a first-time home buyer, use the guide below for helpful
hints and tips and learn how to avoid common mistakes when buying your
first home in Inland Empire, CA.
- Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.
- Pre-Approval: While knowing how much you can afford
is the first step, sellers will be much more receptive to potential
buyers who have been pre-approved. You'll also avoid being disappointed
when going after homes that are out of your price range. With
Pre-Approval, the buyer actually applies for a mortgage and receives a
commitment in writing from a lender. This way, assuming the home you're
interested in is at or under the amount you are pre-qualified for, the
seller knows immediately that you are a serious buyer for that property.
Costs for pre-approval are generally nominal and lenders will usually
permit you to pay them when you close your loan.
- List of Needs & Wants: Make 2 lists. The first
should include items you must have (i.e., the number of bedrooms you
need for the size of your family, a one-story house if accessibility is a
factor, etc.). The second list is your wishes - things you would like
to have (pool, den, etc.) but that are not absolutely necessary.
Realistically for first-time buyers, you probably will not get
everything on your wish list, but it will keep you on track for what you
are looking for.
- Representation by a Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.
- Focus & Organization: In a convenient location,
keep handy the items that will assist you in maximizing your home
search efforts. Such items may include:
- One or more detailed maps with your areas of interest highlighted.
- A list or file of the properties that your agent has shown to you.
- Paper and pen for taking notes as you search.
- A camera to snap pictures of homes you have toured to help you remember your favories and features you really liked.
- Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
- Be Objective: Instead of thinking with your heart
when you find a home, think with your head. Does this home really meet
your needs? There are many houses on the market, so don't make a hurried
decision that you may regret later.
- Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
- Include inspection & mortgage contingencies in your written offer.
- Have the property inspected by a professional inspector.
- Request a second walk-through to take place within 24 hours of closing.
- You want to check to see that no changes have been made that were
not agreed on (i.e., a nice chandelier that you assumed came with the
sale having been replaced by a cheap ceiling light).
All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please contact us directly to discuss any of these matters in further detail.