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Buying a home along the south Orange County coast is a big investment… but it's a good investment. Homes in Seal Beach, Huntington Beach, Huntington Harbour, Newport Beach, Laguna Beach, Corona del Mar, and Dana Point are among the highest yielding properties in the world when it comes to measuring a return on your real estate investment. Over the long term, beach city property will consistently provide a higher rate of return than property located inland. Part of earning a good return on your Seal Beach real estate investment means buying the property right. Here are some proven guidelines to help you find the ideal beach home and earn maximum growth in your Seal Beach real estate investment.
- Budget realistically.
- How much home can you afford? This seems like an obvious home qualifier - but you'd be surprised at how much your enthusiasm for a new home that's just out of reach can cloud your judgment. A new home, in Seal Beach, CA - or anywhere, comes with a lot more financial obligation attached to it than just the mortgage payment. You need to examine your finances to make sure your home budget includes provision for mortgage payments, homeowner and disaster insurance, property taxes, maintenance and repair and maybe even a mortgage assurance policy on the primary wage earner.
- Decide where you want to live.
- Where you buy a home may be determined, in some part, by your budget. There are neighborhoods in Seal Beach and the immediately surrounding area with several ranges of real estate values. In general, you can expect homes in this area to be above the Orange County median value (over $400,000) but competitively valued as compared to other beach property to the south… in such areas as Huntington Harbour, Newport Beach and Laguna Beach. Once you've found a neighborhood that fits your budget and has the right mix of schools, shopping and other conveniences - it is time to look at the home inventory for sale in that area.
- Know the local real estate market.
- Budget the time to look at a good cross section of available homes in the Seal Beach neighborhood you feel is best for your family living style. If your chosen selling agent is Mike Williams, Mike will spend time with you looking up home listings that match your requirements (square footage, number of bedrooms, etc.). This should give you a "feel" for what is available in your budget range.
- View the homes that you might want to buy. There are certain "fundamentals" that you want to consider when looking at a prospective home purchase.
- Give the outside of the house a "once over" for visual appeal and any obvious signs of decay. Bring a camera to take a picture if this home turns out to be one that you end up seriously considering.
- Do the number and size of bedrooms and bathrooms match your needs?
- Does the floor plan "work" for your home inventory of furniture and other household items you will use to furnish your new home? Bring a tape and measure with you.
- Is the garage and yard for this home big enough to suit your needs?
- Does the house appear to be structurally sound? Ask your buying agent to help you with this one. He is experienced and will want to protect you, his client, from unwelcome surprises after you move in.
- Do all mechanical systems work OK? Run water from all faucets and ask to see the last few months of water bills for this property if available. This may help you spot underground plumbing leaks if water usage appears excessive. Flush ALL the toilets and assess their "recovery" time. Look in the hot water closet for decay and signs of water heater leakage on the floor. Check the stove - gas or electric. How does the vent work above the stove. Can the lights be easily changed? Garbage disposal, dishwasher, trash compactor. As you get close to buying your new home, test everything since these will become negotiating points at closing time. Wall switches, garage door opener. Think it through and check with your realtor. Mike Williams should have a checklist of items that will help ensure that nothing goes unattended.
- Get your financing tied down.
- This will entail some research with a good mortgage broker. Ask your real estate agent for assistance if you don't have a loan broker already picked out. Even if you do, it's OK to let your agent expose you to other funding sources. You may be surprised at the quality of options available to you.
- Prepare your offer.
- Once you've decided upon your new Seal Beach home, you'll want to start with a standard property sale agreement and modify it for those items you feel belong in the negotiating process. This would include items needing repair and any special seller financing you may want to include as part of your offer. If the offer is accepted, it may be advisable to involve a qualified real estate attorney in phrasing the final contract. Again, your real estate agent should be able to help you decide on this step.
- Preparing to move in.
- Depending upon where you are coming from, the logistics of moving an entire household into another home can be daunting. We won't attempt to present a detailed action plan within this website - but check the main portal website for Mike Williams Real Estate for many other resources that will help your move to be timely, minimally costly and less stressful.
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