October 2024 stats for Santa Cruz, Monterey County & the Bay Area (click on title)

10 Tips for First-Time Homebuyers

  • 1. Be picky, but don’t be unrealistic. There is no perfect home.
  • 2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
  • 3. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs.
  • 4. Don't wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.
  • 5. Don't ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
  • 6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
  • 7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer?
  • 8. Don't let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you'll have no money left for other things.
  • 9. Don't be naive. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year.
  • 10. Get help. Consider hiring a REALTOR who will work only for you and not the seller too.