6 Things to Consider When Buying a Home in California
When its California, you can expect the best. Be it the beaches, the culture, the atmosphere or Hollywood, this golden state is rich in its interests and this is why everyone wants to live the California Dream. The California real estate market is always buzzing and when it comes to buying a house there, one needs to be quick enough to beat the fierce competition, or have deep pockets.
Nevertheless, there are a few things that you will need to consider before you step into the home-buying scene, for one thing is guaranteed here- you can not do this without any proper help or knowledge. From figuring out the right location to buying the right property, here the top 6 things you must consider before making a final decision about purchasing a house in California:
As obvious as it sounds, if you want to cut the best deal out in California, you need to hire a realtor you can trust and has a reputation of being faithful towards the clients- not the commissions. There are many agents out there ready to play sleazy roles, but the right kind of realtor will make sure to do the most for your interests- from negotiating a price to home inspections and even guiding you through all of your mortgage situations.
As exotic as this state is, California is prone to many dangerous naturally occurring environmental episodes, including wildfires, hurricanes and more. Therefore, before you go hand-picking a house, make sure that insurance makes it to your priority list as well. But most of the times, it gets difficult to obtain a home insurance if you are buying a property in high brush areas. However, there are some insurance companies, like Einhorn Insurance, that are specifically dedicated to insuring properties in high fire risk areas.
Make sure you do your research before opting for an insuring company. Review terms and conditions carefully, make sure the company is licensed and has good standing.
If you have bags of cash laying around, then feel free to skip this. But if you are going to avail mortgage loans, then you need to be clear on what you can afford and buy. Your mortgage company might make you believe that you can afford a rather expensive house but this won’t always be the best option. You need to be realistic and have a proper financial in place, in order to avoid spending more in the longer run.
Be Clear on What the Future Holds
Looking with a rather broader vision, one which includes crucial questions like your personal life, financial standing and the fact that if this property takes a hit or not in the future, is what you need to do. Before you go around making final offers and purchases, be sure to treat this investment while keeping your future in mind. Think on situations, like if it will accommodate your futuristic lifestyle, because buying any house is a big financial commitment and will shape up your life further on.
Do Your Inspections
Buying a house will introduce you to a whole realm of contracts and paperwork, but before you go around signing off agreements, make sure to give the house of your choice a good hard look. Get it inspected, look for plausible problematic areas, determine what modifications (cosmetic/repair) are required and then look on the final quote. You should always factor in the labor and materials costs, if there are significant fixes involved.
Do You Really Need a House?
If the house-search has blown your mind or you just can’t find the perfect home in that perfect price, in such a situation you really need to ask yourself this question. While there is no hard and fast rule set that you must buy an house, there are alternatives that can be equally satisfying. Consider investing in condos or apartments or even rentals- all of these can be equally rewarding and fulfilling. After all, California is expensive.
California is an amazing opportunity to be in but is an equally challenging place to opt for, largely because the market is soaring every minute. But in case you are ready to invest your everything in search of that perfect California dream home, be ready to bear some complications before the ultimate reward.