You are ready to buy a Los Angeles home. You have talked to a lender and chosen your Los Angeles real estate agent. What comes next?
Now you need to sit down with your agent and define your criteria. An area like Los Angeles gives you a large variety of options and you are going to have to decide what is most important to you and narrow them down.
Here are some ideas:
- Location: Do you need to be near work.? How much of a commute are you willing to consider? L.A. freeway driving can be tough. However, sometimes you may be able to drive against traffic which may make freeway driving an option.
- Schools: Areas close to good schools are among the most popular in Los Angeles, and your choice will be considerably narrowed if this is a consideration.
- Lifestyle: Do you need to be near shops, restaurants, entertainment, etc?
- Type of property: house, condo, duplex, etc. Each has its benefits. Some examples. A condo you can just lock up and leave, and with the full amenity buildings your hardly need lift a finger. A house requires more upkeep. With income property, someone is helping you pay your mortgage.
- Features: How many bedrooms, bathrooms? Do you need outside space? Do you have to have a pool, or room for a pool, a view…….
- Price: Determine the price. This will depend on the approval you have received from your lender and based on that, what you actually feel you would like your monthly payments to be. Just because you can afford a certain amount doesn’t mean you should spend that much.
These are things you need to think about.. While doing this make sure you prioritize. What do you have to have and what can you live without.
If your Los Angeles Realtor® is armed with this information they will be able to help you narrow down properties in the right area, with a good configuration, within your budget.
Buying a Los Angeles Home – The Series:
Step 1: Getting ready to buy
Step 2: Why use a Realtor?
Step 3: Define your criteria
Step 4: Start your search
Step 5: Make your offer (about the purchase contract)
Step 6: Be prepared to negotiate
Step 7: Go through the escrow process
Step 8: Taking Title
Step 10: Prepare for your new home
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