Tips for First-Time Home Buyers in the Silicon Valley

You’ve decided to buy your first home, and you’ve chosen the Silicon Valley!Estate Agent Showing Prospective Female Buyer Around PropertyIt’s a wise choice—high-paying and high-tech jobs abound, attractions and entertainment wait around just about every corner, and quality of life is very high in this blossoming area. But where to begin? Buying your first home can be a very daunting process if you don’t know where to start. But it doesn’t have to be stressful or overwhelming. Start slow, get organized, be prepared, and the process will go smoothly.

Before You Buy

Before you start searching for homes or attending open houses, there are a few important details to work out.

1. What type of home are you looking for?

Do you want a brand-new home, or are you willing to try your hand with a fixer-upper? Do you want your own space or something more urban, such as a condo or townhome?

2. What neighborhood and home features do you need?

Some neighborhoods have a lot of amenities, others offer quiet seclusion and large yards. And deciding the details of your home—number of bedrooms, style of kitchen, closet size—is obviously crucial, as well.

3. What size loan do you qualify for?

You’ve got the perfect image of a home in your head—but that’s only relevant if you can get a loan! Find out what lenders will actually offer you, based on credit and income, before you start really searching for houses.

4. What can you afford?

Just because a bank will give you a certain amount of money, doesn’t mean you can afford it! Consider all the costs associated with buying a home—from down payments and closing costs to insurance and property taxes. Keep in mind that home costs aren’t just your monthly mortgage payments, and remember details like the cost of maintenance and repairs.

Discussion with a real estate agent at the officeBuying a Home

So you’ve worked out all the details… Now it’s time to really get started!

So, what’s first?

1. Find an agent.

This is an important first step—especially for a first-time buyer. Since this is your first time in the home-buying arena, you want to focus on finding an agent who knows the local market, inside and out, but who will also be able to give you the personal attention and time to guide you through the process and answer all your questions.

2. Find your home.

Use an advanced search tool to narrow down your home search by location, neighborhood, price, amenities, styles, and more!

3. Hone in on your finances.

There are many  home-buyer assistance programs in California and the Silicon Valley designed to reduce the amount of your down payment and make buying your own home considerably more affordable.

4. Make an offer.

Once you find that perfect home, make an offer. Your agent will help you find the right price to offer.

5. Request a home inspection.

Have a trained professional walk through and check for quality, safety, and overall condition of the home.

6. Close.

Breathe a sigh of relief, and then dive into the paperwork.

7. Move in!

Finally… It’s yours!

Are You a First-Time Home Buyer in the Silicon Valley?

If you’re a first-time home buyer in the Silicon Valley, you’re probably looking for a top real estate agent that you can trust to guide you through the complicated process and ensure you’re getting the best possible deal on your valuable investment. We at Gary & Robert Real Estate Team would love to answer all your questions and talk more about the buyer services we offer. Contact us today and let’s get started.

Not moving to the Silicon Valley? Our network of Preferred Realtors can help you find the right agent, wherever you’re headed!