While many people settle for apartment living, there is a strong number that keep the American dream of owning a home alive in Southern California. And in Santa Clarita, CA the benefits of owning a home is important to many citizens. Some of those benefits include simple pride of being a homeowner, reduced taxes, independence, community commitment and more. Simply put, homeownership is still the best long-term investment you can make. Therefore, I have some tips on buying and financing a Santa Clarita home.
Choosing the right agent ? Choosing the right Realtor? is much like a partnership. You want someone on your side that you can trust and have an open communication with. Buying a home can be stressful and having the right agent will relieve some of that stress.
* Trust ? You can find agents through family and friends who can recommend a Realtor? that they have used and were satisfied with in the past. You can also contact your local Realtors Association for recommendations.
* Professionalism ? Make sure you know what the agent can do for you. Ask for their resume listing their sales experience, education, services, etc.
* Communication ? You want to find someone who you can talk to freely and that will keep you well informed from beginning to end.
Assessing your needs ? You should do your homework when it comes to buying the best home for you and your family. Is the Santa Clarita area the right place for you? If you?re not familiar with the area, you can talk to your Realtor? about the neighborhoods you like and its surrounding areas. Some questions you may want to ask include property size, schools, shopping, amenities, recreation, etc.
How much home can you afford ? To find a home you can afford without putting yourself in debt, you should compute your income and debt. You will need to estimate your gross income per month and extras such as child support, bonuses, and commissions. Then, add in your monthly debt like credit cards, car loans, or child support. You also need to know how much cash you have available for down payments and other fees.
Getting pre-approval and securing a mortgage ? It will be extremely helpful to have a pre-approved loan certificate in hand when you find your dream home. It is also a powerful tool when it comes to negotiating an offer. Pre-approval is a much stronger tool than pre-qualification, especially in today?s market.
Make an offer ? When you have found your dream home, your Realtor? will get all the necessary paperwork in order. You should expect to pay earnest money with the offer, which can range from $1,000 and up. The contract will include all contingencies, move in date, any necessary repairs needed before moving in, interest rate and more.
Home Inspection ? A professional home inspection is needed to ensure you don?t come upon unexpected property defects that could cost you down the road. You should expect to pay between $100 to $500 for a professional home inspection.
Taxes & Insurance ? When you carry a mortgage on your home, you are required to have it insured. Therefore, you should choose a reputable insurance company to get the coverage you need. Some questions you may want to ask include coverage for roof damage, fire damage, water damage, mold coverage, earthquakes, etc. Property taxes can be paid annually or through an escrow account that can be setup with your mortgage company.
Terms & Conditions ? When you speak to your lender, it will help if you know the simple relationships between points, rates and time.
* Points ? These are the costs you incur at closing. For every one percent of the loan you put down, you lower your point ratio.
* Adjustable Rates ? An ARM is an adjustable rate mortgage that gives you a lower interest rate than the traditionally fixed loan. However, ARM?s expire after a certain time and you will then pay what the interest rate is at the time of expiration.
* Balloon Payments ? A balloon payment allows you to make a fixed payment before the balloon payment is due, usually for 5 to 7 years. At the end of the term, you can pay the loan in full or you can refinance your loan.
This real estate information is brought to you by: Kim Thompson ? Your real estate resource for Santa Clarita, CA and surrounding communities.
?
?
Thank you for reading our Santa Clarita Valley Real Estate Blog!
Written by Kim Thomson ? Santa Clarita Real Estate Agent
Kim Thomson Team For all your Real Estate needs, give us a call (661) 263-0441
Search for a Home in Santa Clarita What's My Santa Clarita Home Worth?
Leave a Reply
Source: http://santaclaritarealestatebuzz.com/2012/08/14/buying-and-financing-a-santa-clarita-home/
new hampshire debate rupaul meet the press steelers vs broncos chris herren jay z patsy cline
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.