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Home Buyers

PreApproval vs PreQualification

If you are already renting, chances are you have a general idea of what you can afford to pay. If not, before starting the process of finding a home it’s important to figure out what you can afford. Think carefully about all the costs of owning a home — not just the down payment and mortgage. Download my free e-book “All you need to know about buying a home in California.” It explains the process from start to finish. Download it below.

In addition, do not forget about homeowners association fees (HOA), maintenance costs, taxes, and in some cases, private mortgage insurance. Be honest with yourself and your agent about how much you are willing and able to spend. It is best to be pre-approved or at least pre-qualified for a certain mortgage amount before you start home shopping. If you need a referral to get that process started do not hesitate to reach out. I can point you in the right direction.

What Should Your Agent Be Looking For?

Once you have the amount and qualification in order, be prepared to tell me where to look and what you want in a home, being as specific as possible. It may be a search around a specific radius and location, such as a particular city or particular neighborhood. It might be a certain amount of bedrooms and bathrooms or a big backyard. Do you want a single-family home, a condominium, or some other type of property? Do you have certain square footage in mind? Think about how much space you need and what is right for your lifestyle. Taking the time to think about your must haves or deal breakers is essential in helping me find a house you can call home. Contact me if you have questions about the home search process.

What are your Must Haves?

Ideally we all would love to have move-in ready but the reality is, it is all dependent on what houses are on the market and what your budget is, in addition to your move in timeline. House hunting can be exciting but can quickly become overwhelming and even worse can become discouraging when you cannot find something that checks all your boxes. Having a list of must haves or deal breakers is important to help filter through the housing inventory. Finding something that meets all your needs is priority but sometimes you might have to have trade offs. Whatever those must haves are be sure to communicate that early. It will save us a lot of time and effort.

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