Once you’ve made the decision to invest in a home, you might be tempted to start pounding the pavement right away. After all, there are countless online platforms that you can use to view active listings. In order to streamline this process and ensure that you get the results you really want, however, there are a few, important things that you should do first.
Understand the Full Costs of Property Ownership
It’s vital to make sure that you’re actually ready for this purchase. This is likely the biggest financial commitment that you’ll ever make and there are lots of hidden costs in home ownership that many new buyers fail to account for. Buyers will have to pay property taxes, HOA dues, home insurance, full utilities, maintenance and repair costs and in many instances, mortgage insurance. Use online resources to calculate the full costs of ownership so that you can make sure that you’re truly ready for this expense.
Build a Budget
Once you’ve calculated the full costs of owning a home for sale in Irvine, CA, start building your budget. Determine how much money you can afford to put down and how much you want to spend on your home overall. This is also a good time to start learning more about different mortgage loans so that you can determine which loan terms and features are best for you.
Getting Funding Approval
Competition for some of the top properties at each price point can be fierce. This makes it best to get a funding approval ahead of your first property tour. This way, you’ll have the financial clout to make a solid offer, should you stumble across your dream home right away.
Identify Your Target Neighborhood
Determine which neighborhoods and neighborhood features are most important to you. You can check out the median price range in this area and see if your budget is sufficient. You should also make a list of property features that are essential as a well as a list of desirable property features that you might be willing to do without.
Align Yourself with a Reputable Agent
Armed with a funding approval, a solid budget and a list of purchasing goals, you should be unstoppable. The next step on your home shopping list is to find a reputable agent. This professional can help you meet your goals by helping you identify budget-friendly homes in your targeted neighborhood. A good Irvine real estate agent will review your current purchasing plan and help you determine which aspects are feasible and which are not. Working with an agent will additionally connect you with a vast network of professionals who will serve as invaluable additions to your purchasing team.
Still looking for your dream home or dream agent? Look no further than Irvine Residential Living. We can help you identify buying goals, show you condos, townhomes, or houses for sale in Irvine that meet your financial needs and aesthetic tastes, and get you and your family settled in the neighborhood right for you. Reach out today or check out our inventory online.