So you’re in a good place in your life now - perhaps transitioning from a lone wolf to a family man and looking for a good place to call home. Surfing the internet, you’ve found so many beautiful homes in LA. Well, one of the most popular choices is 90043 real estate properties. 90043 real estate nowadays are in-demand, although luckily, the market is not yet oversaturated.
Buying a house is the ultimate symbol of financial stability and even emotional maturity in America. But before you jump on the 90043 real estate for sale hunt, here are a few tips for first-time buyers to make the experience easier and all the more enjoyable.
Number 1: You have to make sure your credit is strong
Your FICO score is important because it determines the kind of rate you will qualify for. If you have previous credit card debt or disputes, clean the slate as soon as you can before showing your credit history to lenders. Convincing lenders that you are in 100% good financial standing is the key.
Number 2: Know your financial limits
Initially, you will be asked to pay more or less 20% of the appraised value of your dream 90043 real estate property. This might be more than what you expected the house to cost (appraised value is different from the selling price.) Not knowing how exactly you’re going to afford a place or if you can actually afford it, is a big no-no in buying a house. You have to be wise about your money – know your monthly housing cost, the taxes, expected house expenses and all that stuff. If you’re fully aware of your financial standing, only then can you really be ready to buy a house. The golden rule is always buy something you can afford.
Number 3: Apply to several lenders
After assessing financial aspects, send an application to multiple lenders before contacting a real estate agent. Contact a real estate agent before knowing if you can or can’t afford to buy a house might lead you to disappointment.
Number 4: Shop your dream house
You might have done this way before you got to Numbers 1-3 but the really wise thing to do is wait until you’ve settled the above mentioned matters before looking at 90043 real estate properties. The downside of looking at houses first is the possibility of you falling in love with a property and leading you to make irrational and impulsive housing decisions.
Lastly, find a good agent who can help you with this whole becoming-a-family-so-buying-a-house ordeal. Then, make an offer, have a contract with a contingency plan and close the deal. Happy housewarming!
