The Pre-Approval Process:
The home buying process can feel overwhelming, or at least figuring out the first steps can. That said, there is truly not much to the process. Before buyers get their hearts set on a home or a budget, my suggestion is to connect with a lender to get pre-approved so they know where their search budget stands, what their monthly payment is going to look like, and how much money they will need to set aside for the down payment. A good local lender will hold your hand and walk you through all of this, or connecting with your employer’s credit union could be a smart first step as well. Credit unions may offer better interest rates.
Open Houses and Neighborhood Vibes
Open houses can be fun, and I encourage my buyer clients to see as many homes as possible while also spending time getting coffee and generally hanging out in neighborhoods that are on their radar. Some clients find they need to be within reach of bars, restaurants and shops, while others realize their anxiety levels rise and they need to be removed from the hustle and bustle of a neighborhood. I’ve had many clients drive through their target neighborhoods at night to get a better feel for the area after the sun goes down, get dinner and see what kind of crowd the local scene attracts.
Should you be worried about being districted to a certain school?
For those buyers planning on starting family the majority are shopping for homes by school district which I do not necessarily recommend. Before paying a premium to live in a certain school district or compromising on your dream home, please know that your child’s educational needs and interests may change. Maybe your child develops a passion for acting, music, or science and wants to attend a specialized school or magnet program outside of your district. There are also charter schools, private schools, and opportunities to apply for transfers, and that school that is not highly rated as of now, could shift in 4-5 years as the neighborhood grows and changes. Think Micheltorena, Elysian Heights Arts Magnet and Aldama Elementary schools to name a few.
The process doesn’t need to feel overwhelming and can be broken down into actionable steps and dare I say, the home buying process can be fun, exciting and manageable with the right lender and realtor. If you need suggestions on lenders or would like to discuss starting the home buying process together, please feel free to reach me at rich@minimalism.la or 213-494-7362.
