This article will give you millennials helpful tips and advice for your decision to home shop and what to expect. Our Laguna Niguel Realtors listen to our clients’ experiences in the market, their concerns, and how they dealt with friends and family opinions.
Purchaisng A Home Doesn’t Have To Break The Bank
Our Laguna Niguel Real Estate Agents say that beyond popular belief, becoming a homeowner nowadays doesn’t have to empty your pockets. There are several first-time buyer programs available to help get you into your first home. Talk with a mortgage advisor about 5% conventional loans and 3.5% FHA loans if you don’t have deep pockets or mom and dad gift funds.
Hurry Up and Go AlreadyMillennials!
Laguna Niguel Real Estate Agents say you can take your time with a pre-approval windowing shop open houses until your blue in the face. Bring a pick nick basket and make a day of it! Once you find the house or condo you want to call home be prepared for things to start moving forward quickly.
You’ll need a current pre-approval letter(within 60 days) and current bank statements showing your down payment, closing fees, and reserve funds. Then your agent will bundle those, and a cover letter with your offer and send them to the listing agent.
If you’re lucky and get your offer accepted the escrow clock starts ticking. Within 30 days you’ll be a homeowner. How do you like them apples? Escrow timeframes vary on the buyers and sellers unique circumstances but 30 days is a typical escrow timeframe in Laguna Niguel, CA
If you’re bitting your fingernails don’t worry. 30 days may seem fast but it’s plenty of time to inspect the home for any problems, have an appraisal completed and your loan approved.
Get Yourself A Screwdriver and Wrench
Do you have a toolbox? If not, now’s the time to invest in one. I am not handy at all and have challenges screwing in a light bulb or changing the batteries in my son’s toys.
Having a small tool kit is extremely helpful. As a new homeowner, you’ll want to learn the basics about your property systems. Like, where is the main water shut off valve, the electrical breakers, and how to reset your water heater. The water heater is always a pain in the butt for me. I feel it’s going to explode. That’s a personal problem of mine – I get it.
They ALL Got An Opinion
Not all of your friends and family will share your sentiments about buying a home. It’s wise to take everyone’s opinion with a grain of salt. Our Laguna Niguel Realtors say that suggestions from others may be fear-based or have another agenda. If you can get into the real estate market it’s a wise decision. Over time, home value is always ticking north. If there’s one thing we’re not making more of its land.