Saturday, September 13, 2008

Five Tips for First Time San Diego Real Estate Buyers

First time San Diego real estate seekers purchase their first home successfully. Finding San Diego real estate is not difficult, but knowing what to next requires a little research and effort.

It is not a good idea to stretch your money too far. It is important that you take a good look at your budget to determine how much you can comfortably afford to spend on a mortgage. As a first time home buyer. Make Sure That Your Finances Are In Order.

Get pre approved for a mortgage. Once you have done the work to clean up your credit report and pay off your minor debts, as a first time San Diego real estate buyer, you should get pre-approved for a mortgage through a lender. When a lender pre-approves you for a mortgage, you are given an estimate of the amount of mortgage you will be approved for based on your credit history, debt, and income. With this pre-approval amount, you have a price range that you can use to shop for a home.

Choose your agent carefully. The real estate agent you choose will play a major role in the home shopping process. Not only should you choose an agent that is reputable and experienced in the San Diego real estate market, you should also make sure that you feel comfortable communicating with the agent. It is helpful to work with an agent that has experience working with first time home buyers. You do not have to be best friends with your real estate agent but you do need to get along with this person. After all, you will be working together for the next three to six months.

Narrow down your selection as you go. Many first time home buyers have difficulty making a decision about a home to purchase. After several days of home searching you may find yourself with several houses to choose from. This can make it difficult since you have probably forgotten many of the houses since visiting them. You should narrow down your selection of houses as you go. As a matter of fact, it is a good idea to only have three houses in mind at any given time. Weeding out the houses will make the final decision much easier.

Instead, make a decision to sacrifice some of the things you desire in a home that can be added later. That does not mean that you have to choose a house that you hate. You might have to lower your expectations slightly to purchase a home.

Finding your dream house as a first time home buyer might be somewhat of a stretch, especially if you are limited by financial reasons. If you must settle when it comes to San Diego real estate, do so within reason.

Being a first time home buyer can be a rewarding process, especially if you have the knowledge you need to make an informed San Diego real estate decision.


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