Buying Homes For Sale In Sebastopol CA

One of the biggest decisions you will make in life is if you are going to move and if so, where? There are so many places in the world to choose from and each and every one is unique and comes with its own pros and cons. One very popular place to move is sunny California. Lots of sunshine, easy access to the beach, fantastic shopping, and California has Hollywood! There are so many sights to see and amazing things to experience there! So, are you thinking about moving? Looking for a new house in California? You have come to the right place! Here we will explore the ins and outs of buying a house in California.

The first thing you will need to consider when looking for a new house is the price. Being able to afford a new house is not easy for everyone and it is vital to have an idea of what you can expect to spend on a new home. There are, of course, payment calculators and other tools to help you figure things out, but here is some basic information to get you started. According to the real estate tracking firm Zillow.com, the median sales price for a house in California was $393,000 USD three years ago in 2015. Provided you place a twenty percent down payment, it has been averaged out that to reasonably afford this, a household would need to be bringing in at least $78,000 annually. The prices have changed a bit in the last three years, but are still in the same relative price range.

The closer you are to major metropolitan areas such as Hollywood and Los Angeles, the more expensive the listings will be. Therefore, you will need to decide where in California you want your house to be. If you need something cheaper, look for places that are not right on the beach as well as homes that are farther away from major cities. If you are determined to live in the aforementioned areas, be prepared to pay a hefty price for a house or consider an apartment.

The next thing we need to talk about is California's first-time home buyer programs. To be considered a first-time buyer you must not have owned and occupied your own home within the past three years. First off, to be eligible for assistance from the California Housing Finance Agency you must have a credit score of at least 640. The property in question has to be located in California. This property must be the primary residence of the applicant until the property is sold or refinanced and applicants must be US citizens, permanent residents, or qualified aliens. All applicants must meet specific income and sales price requirements and the property must be no more than five acres.

There are also several national programs that you should look into.

FHA Loans
Conventional Mortgage
USDA Loans
VA Loans

The next topic for discussion is whether or not you will need to hire a realtor to aid you in buying your new home. In short, the answer is yes, but let's talk about some of the reasons that the answer is yes. First of all, if you are not familiar with real estate proceedings, especially within the state of California, you need someone who can guide you through the process.

Another point worth referencing is that you should always request a Comprehensive Loss Underwriting Exchange report (CLUE) from the owner of any property that you are planning on buying. This report is a personal property report containing all of the information on any and all insurance losses for a span of five years on that property. Keep in mind that only the homeowner can request this report, so it is imperative that you speak with the seller's agent as soon as possible so the owner can get the request in.

If you are not able to buy a house in your desired location for whatever reason, you can also consider renting. Some people prefer to rent while others tend to stay away from it. Renting is a great step toward your goal of owning, particularly if you find a place that is rent to own. Remember to be patient and always take the path that is best for you, not necessarily the path that is easiest or the path that is in your immediate vision.

Owning a home is a big step if you have never owned your own house before. Even if you have, it is still a huge step to decide to move and start the process all over again. Hopefully, you have found enough information in this article to get you started on your path to owning a home in California. During your search, be sure to check out https://www.mack-faulkner.com for all of your realty needs! This is a fantastic place to get the help you need. Happy house hunting.