Skip These Home Buying Errors

Buying a home is probably one of the biggest purchases you will ever make. Because you will invest so much money in your home and because you will rely on it to shelter your family for years to come, it is important you handle the home buying process well. To help, here are a few common mistakes of which you should be wary.

• Ignoring Your Budget. Before you set out to find a home, you calculated how much home you can afford. Why, then, do so many people act like that number does not exist and fall in love with homes outside of their budget? Do not even look at houses that are outside of your price range to ensure your mortgage payments are manageable for you.
• Buying For Short Term. Even if you hate renting, buying if you plan to move again in a couple years just does not make financial sense. Do the math to find out how long it would take you to make your money back on the homes you are considering (do not forget closing costs!) and only buy if you know you will be in your home long enough to break even.
• Forgetting Extra Costs. Speaking of closing costs, do not forget about them! Or maintenance costs. Or property taxes. In other words, make sure you have a full list of all of the expenses you will be assuming when buying a home to double-check that your budget is realistic.

The good news is that you do not have to try to avoid all of these mistakes on your own. You can get an expert on your team to guide you through the important—but all too often confusing—process of buying a California home. For all of your mortgage needs in Solana Beach and the surrounding cities, contact Ranch & Coast Mortgage Group Inc.