3 Things New Buyers Should Know

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Buying your first home can be an incredibly exciting time.

However, it also requires a huge commitment and investment, and can have repercussions in your life for years to come.

That’s why I want to share my three top tips to help first-time homebuyers protect themselves during this crucial period:

1. Know what you can afford

The fact is, your mortgage is only a part of what you will need to pay when you buy a home.

Homeownership comes with other expenses as well, including closing costs, taxes, property insurance, maintenance costs, and homeowner association fees. 

Once you have a clear idea of all of these items, you can compare this to your stable income and your current monthly expenses.

This way, you can figure out the kind of home you can honestly afford, without getting carried away, and without getting bogged down in debt.

2. Choose your lender wisely

Choosing a lender is not something you should base only on the lowest rate.

A competent and trustworthy lender will offer you advice on how to improve your credit.

The right lender will also help you take advantage of special homebuyer programs that might benefit you.

And ideally, your lender will work with you to get pre-approval for your loan. This can strengthen your offer immensely, particularly in hot markets like the one we're seeing around Temeculah.

So how do you find the right lender specifically for you?

While it can be a good idea to start shopping online, it's often best to get recommendations from friends who have already worked with a lender, or from a real estate agent you trust.

3. Don't overlook the details

There are many details that go into buying a home, and missing any of them can be a costly mistake.

For example, I always advise buyers to get a professional inspection (this is separate from an appraisal, which the seller is likely to get).

Yes, an inspection will set you back about $300, but it can save you thousands of dollars down the line, and it can even prevent you from making a decision to buy a home that you would later regret.

A second example is understanding the fine print in the various contracts you will be signing.

If there's anything that isn't clear to you, talk to your real estate agent and have it spelled out.

Trust me — there are no dumb questions. The process of buying a home can be intimidating, and that's why professional real estate agents are there to help.

These three quick tips are only the start of the things you need to watch out for when buying your first home.

Selling a Home as a Pet Owner

If you have a pet and you're looking to sell your home, I’ve got some helpful advice.

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Two out of three of us have a pet, and 61% of pet owners say they have trouble finding a home that is a good match for their pet.

In fact, a recent survey noted that 31% of animal owners don't put in an offer because a home would not suit their pet.

This means that if your home is a good match for a pet, it will be attractive to animal owners.

On the other hand, 67% of Realtors also estimate that having a pet in your home can make it harder for you to sell.

So what should you do? There are three things I typically recommend:

Number one, repair any damage

From the floors, to the walls, to the doors, and the yard — these are areas that pets love to chew on, scratch at, and dig up. Repairing this damage is an investment that will pay for itself many times over in terms of a higher sale price.

Secondly, get a professional to remove pet odors

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Pet owners are less sensitive to odors in their home than prospective buyers are.

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Pet owners are less sensitive to odors in their home than prospective buyers are. That's why you should hire a professional cleaning crew to clean carpets, rugs, or upholstery that has absorbed pet smells. Once you're done, ask a friend or your Realtor to sniff around to make sure the job is really complete.

Number three, take your pet out of your home during showings

Some people are afraid of animals. Others might be allergic. Regardless of the time, money, and effort you've put in to clean and repair your home, some buyers will be prejudiced by simply knowing that a pet currently lives there.

By following these simple guidelines, you will be able to sell your home for the highest price possible, whether the buyer is a pet owner or not.

If you have any questions or concerns about preparing your home for a sale, give me a call or send me an email today.

Tips for securing a high home sale price

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The goal of every home seller is to get the most money possible on the transaction. However, accomplishing that feat isn’t as easy as it sounds. How do you ensure that your next sale goes for top dollar?

I recently came across an article on “Keeping Current Matters” that explains this pretty well. Here is the link to the full article, but to summarize, getting the highest sale price possible comes down to two things:

1. Price a little low. Although this is the opposite strategy most sellers would take, it works. By pricing a little below market value, you will maximize demand for your home and drive up the price. They’re likely to bid up properties that are slightly underpriced, especially in places with low inventory.

2. Hire a real estate professional. You might think that you should skip this step too and save on the commission. However, studies have shown that homes sell faster and for an average of $60,000 more when a professional is involved.

If you do both of these things, you can all but guarantee a successful home sale, especially in our market right now. It really is that simple.

If you have any questions for me, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you.