Tips for Buying an East Bay/Alamo House

ImageThere are some things you need to know and consider if you plan on buying a house.  What are they, you ask?  Well, first you need to be able to stay in the home for a few years.  Because of the closing costs and fees associated with buying a home, if you sell any sooner, you may lose money. 

Next, because you will need to secure a mortgage for the purchase of your home, you need to make sure your credit is in good shape.  A couple months before you start home hunting, get copies of your credit report.  Fix any problems you see and make sure everything is correct on them.

You should really purchase a home you can afford.  A good rule to follow is to buy a house that is about two and a half times your annual salary.  Take into consideration any type of monthly payments you need to make, such as alimony. 

Lenders will usually want 20% down for the East Bay home you want to purchase.  If you don’t have that, there are a lot of public and private lenders who will offer you a low interest mortgage and only require you to pay a 3% down payment.

Try to buy your home in a good school district.  Even if you don’t have children, when it comes time to sell, you will discover good school districts are on the top of prospective buyer’s wants.

Make sure you get an experienced professional agent.  They will be able to help you with strategies during the bidding process and will have your best interests in mind.  You can research online but nothing beats a really great realtor!

Before you start house hunting you should get pre-approved for your mortgage.  It will prevent you from looking at houses you can’t afford, and you will be in a good place when you find that Alamo home you want!  Pre-approval is normally based on your income, debt and credit history.

So now that you are ready to buy that new home, call me, Brad Gothberg, at (925) 648-5326. I have been a professional in the Real Estate business for the last 23 years. My qualifications include production of over $105 million in sales in the past 5 years. 

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