Irvine California is a wonderful location to settle down, raise a family or just be close to the action. Half way between Sand Diego and Los Angeles, Irvine California is located just off the beach with surprisingly affordable homes.
Buying a home in Irvine is not out of the realm of possibility as many first time home buyers might think. Lenders have gotten a little more strict when it comes to approvals but this is actually a good thing. You don’t want to get stuck in a mortgage loan you can’t afford now or in the future. You want to be prepared for what home ownership really means. Getting set up before you look at your first house is always a good way to go. Here are some first steps you should take if you are considering buying a house in Irvine.
Look over your finances with a professional
Even if you are not sure you can afford a home, sit down with a lender now and talk about your current financial situation. Many times if you are not ready, the finance officer will give you a plan to follow so that in 3 months, 6 months or a year you will be in a better place to afford a home. Don’t wait until you have it all together you talk to a financial lender or adviser. Knowing a good plan of attack ahead of time can save you confusion and time.
Know what you want to buy
This may sound obvious but many home buyers head out into the Irvine real estate market and don’t really have a clue as to what they need or want. If you have children will you need to be in a certain school district? What about bus routes? Close to your doctor or health care provider? Does walking distance matter? Then it comes to the logistics of the home itself. Think beyond number of bedrooms and bathrooms and consider the layout. Do you want to watch your kids in the back yard or have a front porch to watch the neighborhood? Do you need bathrooms on all levels or a one story home? Get specific and make lists of what you need, what you can tolerate and what you really want to avoid. This can help narrow down the search also to only those homes that will work for you.
Have cash funds available
You will need actual cash for earnest money deposits and inspections. Many times the closing costs can be built into the cost of the home and the down payment may come from the sale of another home but the actual cash you will need is 1-3% of the purchase price to put down on the home when you submit the offer (this is only deposited when there is mutual acceptance) and inspection costs. This typically runs $300 – $800 depending on the type of home and inspection needed.
Use an agent you trust
Not everyone works well together. Find an agent you feel comfortable with. You will be spending at least a month with this person and you want to feel they know and consider your needs and that they know the Irvine real estate market.
As an Irvine Realtor it is my job to make sure you are well taken care of and informed about every step of the home buying process. Let me show you how to get started on your journey. Start your Irvine Property Search here and contact me anytime at Deepak@housesinsocal.com or call 949-748-9834 and we will get you put on the right track to home ownership!