Real Estate Q & A
A question we get from people we talk with who are considering a first home purchase is, "How do you know when you're ready to buy your first home?"
Purchasing a home in Carlsbad, CA is such an exciting phase in people's lives. It's a significant moment for most because maybe it's finally a dream come true or they're the first ones in the family to own their home or they worked so hard to save up the down payment. Whatever the reason it's almost always a strong urge or desire at the very beginning. It should be a feeling of certainty for you. This is something you really want in your life so when you finally get it, the feeling is amazing. Start with that.
The second part of the equation goes something like this: start doing some research. Assuming you have decent credit, a job you see yourself doing for a while with an income that supports the asking price of homes in your area, then you're ready to start doing some research. Ask around, search the web, cruise around neighborhoods and try to get a sense of which area works best for your commute, your lifestyle, your hobbies and daily habits. The best thing is when you find a property and your lifestyle improves because of it. Maybe you'll be able to walk your kids to school and that's always been a dream of yours, or maybe you can be closer to the yoga studio that you always wanted to join, the dog park, the coffee shop or the community garden, or--let's just be realistic here, this IS North County San Diego--close to your favorite craft brewery.
After doing some research and asking for referrals, interview a few lenders. Meet or talk with the lender at your bank and/or credit union and ask lots of questions specific to a loan program you'll be using, their fees, what kinds of documents they need for you to provide and how fast can they close. Ask your Carlsbad Buyer Agent for the contact information for their favorite lenders. It's a good idea to find out who your agent prefers to use. A common misconception is that agents get a kickback from their preferred lenders for the business referral. This is most often not true, and, highly illegal! Agents prefer to work with experienced lenders that are local, that they know can get deals closed. There are about as many loan programs as homes on the market, not to mention details that may be requirements for a particular geographic area, so it's imperative to work with a top notch professional. Be sure to get their direct phone number and email, and nowadays I'd like to make sure they are technology driven so the paperwork or faxing thing is at a minimum. There will be many parties involved in the transaction, including title and escrow in Carlsbad, CA, so ease of communication is key. (The hairs on the back of your neck should stand up if they prefer faxing over scanning and emailing.) Obviously your lender will need originals and current pay stubs and tax returns.
At this stage it is time to commit to one Carlsbad, CA real estate agent. I hope you will...CHOOSE ME...for an initial home buying consultation at my office in Carlsbad, CA or Encinitas, CA. Find an agent that you connect with best, shares your core values and seems most knowledgeable, or get a referral from someone who's opinion is valuable to you. Give the Carlsbad real estate professional a call and see if they can help. When you first get together, your real estate agent will begin by setting up a search online in the Multiple Listing Service (MLS) with the criteria you discussed at the price point you're qualified for and comfortable paying. You never want to get yourself in a situation where you're making large mortgage payments that really stretch you past your comfort zone, month after month. You'll become stressed or resentful, or even fall behind with an unforeseen expense, and that's no way to feel in your new home in Carlsbad, CA.
At the first or second meeting, expect to sign a loyalty agreement with your Carlsbad, CA Buyer Agent that exhibits best practices. The seller pays a commission to the listing broker and that broker typically cooperates with or "shares" a portion or half of that commission with the Buyer Agent upon successful close. Because the buyer does not pay their agent, and because the agent does not earn a wage until the deal closes as an independent contractor--no stipend for hours doing research, negotiating with the other agents or driving around neighborhoods, or for gas--it makes sense that smart agents will want to formalize the business relationship so they can be 100% committed to their Carlsbad home buyers in order to provide the best client experience possible.
My Carlsbad Home Buying Tips:
- Stay in your budget.
- Make strong offers at fair market value or above if it's a really desirable home in Carlsbad, CA.
- Trust your agent. If you don't trust your Carlsbad Buyer Agent, let them know that it's not a fit and find someone else. Same goes for your lender. Figure this out BEFORE you write an offer or open escrow.
- Buy for the neighborhood first and ideally the smallest house in that Carlsbad community.
Once your agent communicates to you that your escrow has closed and recorded, get the keys and unlock the door to your latest dream come true. Your hard work paid off and you can now plant roots in your community because your Carlsbad, CA home is where the rest of your dreams sprout wings and take off. Start creating some awesome memories. You did it!
I would be honored to interview for the chance to help you find your Carlsbad, CA home.
Call or text me any time, 760.618.1490.
Best of Luck To You!
Thanks,
Chris Whittaker, Realtor
760.618.1490 San Diego
702.285.1363 Las Vegas
www.NCSanDiego.com
Cal BRE: 01895376
*Representing home buyers and sellers in Carlsbad, CA, Encinitas, Oceanside, Vista and San Marcos in North County San Diego. We can also help you in Orange County, Temecula or Las Vegas, NV. Contact me to help you find an agent anywhere in the United States. We have relationships with some of the best agents in most major cities.
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