Guide to Buying a Home in California: 6 Tips to Follow

Guide to Buying a Home in California Home Equity Loans Or Credit Lines in the Time of Need 2020 - World Executives Digest
Image Source: | Guide to Buying a Home in California: 6 Tips to Follow | When you’re ready to take the exciting step of buying a home, it’s important to do your homework first. The homebuying process can be complex and incredibly emotionally taxing. But don’t worry, we’ve got your back. We’ve assembled a list of helpful tips and tricks so you can buy a home in California with total confidence. Keep reading to learn more about buying a home in California.

Get the Basics Right

Before you make the commitment to buy a house, here are some questions you should be able to answer.

  • What’s my housing budget?
  • What are my financing options? For example, do I want a traditional mortgage or do I want something specialized like California veteran loans?
  • How much do I want to save for my down payment?
  • What closing costs should I expect?
  • Do I need to set aside money for moving?
  • Do I know what neighborhood I want to be in?
  • What natural disasters are common in the area?
  • Are there any major issues with the house?
  • How old is the roof?
  • How old is the HVAC system?
  • How old are the appliances?
  • What are comps in the area selling for? 
  • How long has the house been on the market?

Decide Where You Want to Live

California is a huge state with mountains, deserts, and miles of coastline. The people are as diverse as the land, so you have plenty of cools areas to choose from. Need a quick rundown of some cool cities in Cali? Here’s our roundup of our favorites:

  1. Sacramento
  2. San Jose
  3. San Diego
  4. Los Angeles
  5. Bakersfield
  6. Oakland

Obviously, where you live is dependent on what’s important to you. You should decide your ideal place to live based on affordability, safety, the job market, and culture. It’s a good idea to visit the areas you’re interested in because online reviews can only provide so much insight. 

Plan Early

It’s a smart strategy to get pre-approved for a home loan before you’re actually on the hunt for your house. Some sellers won’t even bother showing you a home unless you’ve already been pre-approved. 

So, make sure you give yourself a leg up and talk to lenders early on in the process. By doing so, you’ll have a competitive advantage. Speaking of competitive advantages…

Write a Letter to the Sellers

If you know you’re going up against stiff competition for a particular property, it might be a good idea to write a letter of interest to the sellers. To really drive home the authenticity of your intent, make sure it’s a handwritten letter that describes your vision for their home. As your writing or English teacher used to say, “show, don’t tell” when you’re writing your letter. 

Avoid talking about any of your major remodeling plans, which could lead your seller to not pick you in order to preserve their favorite parts of the home. 

Have a Flexible Mindset

The house-buying process can be incredibly emotional, but don’t get discouraged when things inevitably don’t work out. You might lose out to sellers who offered cash in hand. You might discover a house needs major repairs you can’t afford upon a formal home inspection. These situations and many others might unexpectedly occur and throw a wrench in your plans.

However, don’t let these setbacks get you down. Keep an open mind and don’t be afraid to be flexible about your new home wish list. 

Be Prepared for Closing Costs

The title transfer, escrow fees, and other related expenses can add up to a lot. Your closing costs can be thousands of dollars. So, make sure that you’re well-aware of what you’ll need to pay after you sign your paperwork. 

Conclusion: Buying a Home in California

The real estate industry in California is always hot. It’s no surprise why millions want to live in the Golden State. However, if you’re buying a home for the first time in California, it’s important to make sure that you actually do your homework before jumping in. Make sure your financing is squared away and know your neighborhood. With these tips, you can move into your California abode before you can say “Golden State Bridge.”