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In 2023, first-time buyers made up 32% of all buyers, which shows that many of us are ready to land our first property.
Learning about the buying process is essential for finding your dream home and having an stress-free experience. But with so much information online, it can feel overwhelming knowing where to start your search.
If this sounds like you, you've come to the right place. Here are our top home buying tips for finding your first home in Brea, CA.
Outline Your Needs
First-time homebuyers in Brea should outline their needs before house hunting. Spend time researching the best Brea neighborhoods and figure out the type of property you want, especially if you're planning to grow your family. You should also look into the current Brea housing market to see what your dream home is worth, so you won't be disappointed later on.
Prepare Your Finances
Once you've checked out the best Brea neighborhoods, consider your finances.
Ideally, first-time homebuyers should be prepared months in advance. A good rule of thumb is to save around 20% of the final price as a down payment. Although you could get away with 5%, it's easier to secure a mortgage with a decent rate when you have more savings.
Seek Professional Guidance
Our home buying guide in Brea wouldn't be complete without mentioning the importance of professional help.
Aside from contacting a real estate agent, first-time buyers should connect with a local property management company. The beauty of property managers is that they understand the current housing market and can offer you valuable advice. Plus, property management companies go through the buying process with you, which saves a huge amount of time.
Negotiate With the Seller
Only negotiate with your seller once you have secured your mortgage. Work with your real estate agent to submit a competitive offer, but don't go too high because you don't want to overpay. It will also give you wiggle room if the seller doesn't accept the first offer.
Inspect the Property
You've found your dream first property and your offer has been accepted. Almost there!
Before signing any paperwork, consider one of the top Brea real estate tips, which is to conduct a home inspection. Inspectors can uncover hidden issues, such as poor plumbing or repairs, that could cost a fortune to fix. Depending on what the inspector finds, you can return it to the seller and knock it off the price.
Close on Your New Home
It's finally time to get the keys to your first home. Congrats!
On the big day, you'll work with the real estate agent and lender to organize the last part of the closing process. This means completing paperwork, such as the closing disclosure, and your loan. You can have a final check of the property before meeting with the seller and signing on the much-anticipated dotted line.
Try Our Home Buying Tips Today
Now that you've taken our home buying tips on board, it's time to find your first property.
At PMI County Line, we have 30 years of experience helping clients find and manage properties throughout Los Angeles and the surrounding areas. If you're interested in our services, we'd love to hear from you. Reach out to us and chat with a member of our team.
