Southern California is home to some of the most popular counties of the state. Included in the list are Orange County, San Diego, Los Angeles, Santa Barbara and more.
These cities attract not only millions of tourists yearly but also people who are looking to permanently relocate and move to the Sunshine State. Southern California offers the best of both worlds. You get access to the modern cities and beautiful beaches without having to drive for hours.
There are a lot of things to consider before buying a house in Southern California. As in any major purchase, it requires a long-term commitment, so consider the following tips below if you are thinking of purchasing a home in the near future.
- Get your finances in order – this means you need to make sure you have a good credit rating, otherwise will not be able to get a good deal on your mortgage loan. It would also be good to save enough money for at least 10% down payment. While there are lenders that would allow as low as 3% down payment, it might not be such a good deal when considering the monthly mortgage payments you would have to pay.
- Know what you want in the house you would like to purchase – everyone has an idea of what their dream house should look like. You can make a list of the would like your future house to have but also bear in mind that unless you have a lot of money, you would need to make compromises and let go of some of the things on your list.
- Get a feel of the neighborhoods – there are so many places to choose where you can buy your home, so it would be a good idea to scout the prospective places you are eyeing. Why not try and live like a local, walk around and check out the public places that you can visit. You can even try to talk to the people who live there and ask whatever you want about the place.
- Consider the future – even if you do not have any children yet if there is a possibility of having them in the future, you might want to consider getting a house that is near schools. Research on the school system and what are the tip schools in the area.
Aside from the above, it would be also good to research on the real estate laws in California. Also, while there are areas where the real estate prices are rising, take note of places where there are also a lot of foreclosures. Maybe, you can get a better deal, just make sure to do proper research. If you are a low or middle-income buyer, there are programs available through agencies like the California Housing Finance Agency, so make sure to check them out.
If you are interested in more information about Southern California, check out southerncaliforniahomebuyers.com for more information.