Buying a Home
Whether you are a first time buyer or a seasoned homeowner looking to buy again, you are embarking on a significant process that deserves close attention to detail. Fortunately, HLS Realty is here to provide it. Our professional real estate services can help Southern California home buyers accurately assess the factors affecting their home buying decisions, including:
- Locations, neighborhoods and schools
- Home values and market conditions of the area
- Mortgage financing options with our HLS lending division
Home Buying FAQs
How much can I afford to pay for a home?
According to the National Association of Realtors, the rule of thumb is that your monthly housing expense, including monthly payments for taxes and insurance, should not exceed a certain percent of your gross monthly income. Often, this translates into the rule of thumb that you can buy a home that costs about two-and-one-half times your annual salary – but every situation is different. As Realtors® and lenders, HLS Realty can examine your lending profile to help you determine your best home buying options.
Why do I need a real estate agent; can’t I just find my home on the Internet?
The Internet, including online Multiple Listing Service access, is a great research tool to help you narrow down your choices and simplify the selection process. Regardless, there is a great deal of legwork involved with buying a home, and most buyers are unable to complete it on their own. No matter how savvy a buyer you are, you still need a real estate agent to analyze the data, answer your questions, communicate with the seller’s agent, and process all the paperwork in your transaction. The professional expertise of a qualified real estate agent, especially a Realtor®, cannot be underestimated.
Why do I need a buyer’s agent? Can’t I just use the seller’s agent?
While the seller’s agent may be extremely helpful, the reality is that he doesn’t work for you; he works for the seller, and will not be likely to help you negotiate. By enlisting the help of your own agent, you can be sure your interests are protected so you can negotiate the best purchase price and terms in the transaction.
Should I tell the seller I will pay top dollar, so I can be sure to get the home?
This isn’t normally recommended. If you reveal to the seller that you will pay top dollar, it will almost certainly guarantee that you will. If you don’t want to negatively impact your ability to negotiate the home price with the seller, let your agent guide you through the negotiation process. That’s what we’re here for!
For more questions on buying a home, contact our team at HLS Realty for a free home buying consultation. We will be glad to speak with you!