Purchasing your first home is an exciting and often daunting endeavor. Owning a home is a dream that many people strive to attain. However, dreaming about owning a home and actually taking steps to start the process are two very different things. Purchasing a home in California, or anywhere else in the country, is a different process than the majority of other purchases. The fact that the process of buying a home is different than the process of buying a shirt or a car makes it imperative for you take a little time to learn the basics. You can start learning right here in this blog by Century 21 Cornerstone Realtors and continue to learn from the other content on our website. When you are ready for the next step of the process then you can start learning by working closely with a realtor.
Purchasing a home takes time
The first thing you need to know about the process of purchasing a home in California is that it takes time. When you go into a retail store to make a purchase you simply find what you want, buy it, and take it home all in the same day. The process of purchasing a house is very different. In order to even look at properties you have to schedule a time that works for you and the seller. This means that you may not be able to go look at a property you found online immediately. The seller may have other people looking at the house or something else going on at the property when you want to see it. You will also most likely look at several properties before finding the right one for you.
When you find the house you want, you will spend time making an offer, getting it accepted, and then waiting for the purchase to close. There are a number of elements that can impact how long you have to wait for a home purchase to go through, but if you are financing you can expect to wait a minimum of 30 days after your offer is accepted. It is important to understand the timeline of buying a home so you can get the process started to fit within your timeframe.
Purchasing a home is a multistep process
One of the reasons purchasing a home takes time is that it is a multistep process. Once you find the home you want, put in an offer, and get it accepted there is still more to do. As soon as your offer is accepted you need to get a professional inspection done on the property. A top notch inspector will point out areas of the home that need repair and areas that may become problematic in the future. Once you have the inspection back you can ask for repairs, request a reduction in the purchase price, or simply continue with the purchase without asking for changes. Near the end of the home buying process you will have an appraisal done on the home. This will tell you and your lender whether or not the property is worth the amount to be financed. If all goes well with the appraisal your lender will finish up their end of the process and then you can close. The closing date can get delayed because of any of the steps mentioned here.
A realtor can help
If all of this information is making you second guess your dream of homeownership, try not to despair. It can be complicated to purchase a home but it is not an impossible task. In fact, if you enlist the help of a realtor you may find that you ultimately enjoy the process of finding your first home. A top notch realtor knows the ins and outs of the home buying process. He or she will walk you through each step and help you navigate any problems that come up along the way.
Learning about the process of purchasing a home is a great place to start your journey. The learning will not stop once you take the step of working with a realtor. You will continue to learn throughout the entire process from your realtor and eventually from the experience you have purchasing your first home.