Wondering if Irvine California homes are too expensive? It all depends on where you are in the country. While $250K might get you a mansion in the desert, it may only buy a loft in San Francisco (if that). But knowing how much home you’re getting where you are is a valuable resource in starting the home buying process. If you don’t know how much you can afford, you may find yourself in a disappointing situation down the line. Not knowing ahead of time may result in finding a home you love, only to find you can’t afford it.
This is why this first step is so crucial to home buying. Here in the Irvine real estate market, there are several homes that have dropped far below market value. This is great news for buyers in that they can now afford a home that was simply out of their reach just a few years ago. Depending on the type of home, foreclosure, short sale, or seller occupied, you can also be getting more than you bargained for. Consider the source of the sale and how much work you really want to put into a home. If you buy a home for $20,000 less than market value but have to spend $30,000 fixing it up, it may not be worth it. The key is finding that one home with great potential, in a great neighborhood with increased home values.
Buying a home is like extreme couponing.
If you really want to do it right, the first thing you should do is hire an Irvine Realtor. With the right agent at your side and behind the scenes networking on your agent’s part, you can find that home without having to do much of the work yourself. Don’t think you are saving yourself money by not using a buyers agent. Buyers agent’s get paid by the seller when the home sells…. any home. There is no hidden agenda. You have an agent that’s only working for you, your best interest and your priorities. What could be better than that?
Let your Irvine Realtor dig through all the piles of listings until that one gem stands out. A great agent may even have listings in mind that are not yet on the market but that would be perfect for your situation. These listings allow you to get “first dibs” on the best house for the best price. It’s like pairing the great coupon with the great deal. When they go together, the combination can’t be beat.
So how much home can you buy?
Sit down with a lender you feel comfortable with and discuss your finances and options. Your lender will work up a plan and price range that fits into your budget. Once you know how much home you can afford, the searching can be the fun part!
I look forward to talking with you soon. Please contact me anytime for a confidential consultation. When the time comes to deal with a family estate, trust the details to a professional Probate Realtor in Orange County. 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 selling process. Let me show you how to get started on your journey. Start your Irvine Property Search here to see what is being sold at what price and contact me anytime for a Comparative Market Analysis of your property at Deepak@housesinsocal.com or call 949-748-9834 and we will get you put on the right track to get your home sold at the best price in a timely manner.