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First Time Home Buyers Tips in Irvine, CA

First-Time Homebuyers Checklist

By , 9:00 am on

Buying a home for sale in Irvine is the biggest purchase you’ll likely make in your lifetime. Before taking the plunge, use this checklist to make sure you are truly ready for the commitment.

1. Decide If You’re Really Ready

Before committing to a 20-year mortgage, consider your current job stability, ask yourself whether or not you plan to live in the area for the foreseeable future (5 to 10 years), and determine whether or not you can handle the additional work of owning a home, like yard work, repairs, and HOA meetings.

2. Figure Out What You Can Afford

In addition to a monthly mortgage payment and a down payment, there are several recurring costs associated with owning a home. You’ll need homeowners insurance, private mortgage insurance if your down payment is less than 20%, plus you’ll be responsible for all the costs of repair.

3. Write a List of Must-Haves

There will be a lot of things you want, but what do you really need and what things are deal-breakers? If you aren’t very handy, don’t buy a house for sale in Irvine with a lot of projects that need to be done, even if it’s in the neighborhood you prefer. If you have a dog, maybe you have to compromise a view for a big yard. Knowing exactly what you want (and can live without for now) before starting the search will make it much easier.

4. Get Preapproved

A lot of sellers won’t deal with a potential buyer who hasn’t been preapproved, especially in a competitive market. Getting preapproved tells the current homeowner you are serious about finding a home and the bank will back up the offer you make.

5. Find an Agent

Irvine real estate agents are in your corner and can significantly reduce the stress you feel during this process. This is especially important for first-time buyers, who may feel like they’re in over their heads. An agent might also have insider info on listings that aren’t even on the market yet.

When you’re ready to start seriously house hunting, call (714) 454-6304. We specialize in Irvine and all its charming neighborhoods and can help you find your dream home. Reach out today!

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