The East Bay is one of the most diverse and friendly communities in the area. It’s a great place to live. Whether you’re single or raising a family, the East Bay has some of the best entertainment spots and schools. Such high demand can make it a little challenging to find your dream home, but with adequate preparation, you’ll be able to find a home that’s just right for your needs, so here’s a guide to the home buying process to get you started.
Get the Price Right
The average real estate price in the East Bay is in the $800,000 range, but neighborhoods in the region vary in cost. Determine the market price of the area you’re interested in to make financial preparations easier. You can then apply for a pre-approved home loan, or explore your financial options further. If you intend to apply for a mortgage, you’ll also need to have your credit score in order. It’s best to apply at least three months before you intend to purchase.
To make the home buying process in the East Bay easier, you can apply for pre-approved loans to avoid dealing with a loan contingency. You could also discuss the down payment with your lender to help clarify the loan and payment terms.
Work With a Realtor
Find a reputable realtor who is familiar with different parts of the East Bay. A realtor can help to ensure you make the best offers, and guide you to neighborhoods that match what you’re looking for, as well as what you can reasonably afford. For instance, if you have school-aged children, an East Bay realtor will show you homes that are close to the best schools.
Plan For Inspections
Even if the buyer pays to have the home inspected, it’s not a bad idea to hire an appraiser. You need to make sure that you’re getting the best value for your money. Remember, a home purchase is the biggest investment that most people ever make, so it’s important not to rush into it.
An appraisal is always mandatory before approval of the final loan. Your lender will ask for one before they can allow you to close the deal. After the appraisal, you’ll be cleared of all contingencies. Then, you’ll be free to buy your new home. Make sure you go through all the disclosures before signing them. This should be after an inspection.
Help With the Home Buying Process
When you’re ready to buy a home in the East Bay, contact The Laura Wucher Real Estate Team in Walnut Creek. Contact our office at (925) 595-8047, or browse the listings by clicking here.