First-time Homebuyer Guide – Owning a Home in Bel Air or Beverly Hills
Congratulations! Deciding to become a homeowner is already a big step in itself and no doubt you’ve already given this a lot of thought. Feeling a little overwhelmed? Buying a home need not be a complicated process and here are some things you can do to make it all easier.
Determine what your wants and needs are.
Do yourself a favor and make a list of the things that you need your future home and neighborhood to have and another list of the features that you’d like them to have, but can live without if need be. This will help you stay focused when you’re looking at dozens of homes later on.
Find out how much you can really afford.
If you’re financing your purchase, don’t just go with the maximum figure that a lender approves you for – a home is a major financial commitment and you will want to make absolutely sure that it’s a commitment you won’t have any problems meeting in the future. This means taking a long, hard look at your short-term and long-term financial goals as well as your budget.
Get pre-approved early.
This way you will know exactly how much house you can afford and knowing this will in turn help shorten the home search process. A pre-approval from a lender will also communicate to sellers that you’re a serious buyer.
Choose the right mortgage.
Everyone is different and there are loan products that are better suited to some than to others. Deciding what kind of mortgage to take will involve not only considering the offered rates, but also the term of the loan, whether or not its fixed-rate or adjustable rate, and so on. It’s best to consult your financial advisor and a mortgage professional.
Choose the right real estate agent.
The help of a knowledgeable professional is often invaluable, especially if you’re new to the area or to the real estate investment process. The right agent will be able to draw your attention to neighborhoods you may not have considered and provide you with access to listings that may not be available to the general public.
For a smooth and stress-free home purchase in the Westside, get help from luxury home expert Ambra Bisconti. Nobody knows the market better! Contact Ambra at 310-498-2151.