Tips for Buying a Home in Palm Springs
This article also originally appears on www.dreamlandsdesign.com
Nothing is more enticing than a Palm Springs home for sale. The Palm Springs real estate market is considered the gem of the Coachella Valley. This is not your traditional Southern California market; it is set behind the peaks of San Jacinto and a popular destination for tourists.
Smart Tips as You Look for a Palm Springs Home for Sale
- Know What You Can Afford
Before you start looking for a Palm Springs home for sale, you should know how much you can afford. Please note that this isn’t the maximum you can borrow, but the maximum you’re prepared to pay each month.
Carefully calculate your overall monthly payments and be sure to include additional costs such as insurance premiums, property taxes, and homeowner’s insurance.
- Get Credit Ready and Evaluate Your Financing Options
Buying a home is one of the biggest financial decisions that you ever have to make. Start preparing by getting a copy of your updated credit report. Look for any discrepancies and have them fixed before talking to your lender.
Ensure you have at least 20% of your target purchase price available for a downpayment. However, if you don’t have the funds for a significant downpayment there’s a wide array of loan programs offered at various credit levels.
- Identify and Evaluate Your Preferred Location in Palm Springs
There’s no such thing as being too informed when looking for a Palm Springs home for sale. So take your time to gather as much information as you can about your preferred location. Talk to your real estate agent and mortgage broker for the latest updates on the area.
Remember to visit the area at different times, including heavy commute hours, evenings, and weekends. How far is the nearest grocery store? What’s the traffic like for kids in case you have a young family? It’s also advisable to talk to people living at your desired locale in Palm Springs, their perspectives may offer great insight.
- Work with a Local Real Estate Agent and Other Professionals
Identify the area in Palm Springs where you would like to own a home and connect with a real estate agent who works in the area. It’s important that should have worked extensively in the neighborhood to give you up to date insights on matters such as taxes, laws, and other issues that may be important in the contract process.
Get the best home inspector you can find to pinpoint problem areas that may end up becoming costly repairs. Talk to your financial adviser about the realities of owning a home in Palm Springs and your mortgage broker to ensure your financing can meet your needs.
- Have a List of Negotiables and Non-Negotiables
When choosing a home to buy it’s not all about how it looks, there are other important aspects that you need to put into consideration. Think about the kind of home that would fit your lifestyle and values.
What features do you want in a home that can improve the quality of your life? Do you want some space where your kids can play or where you can do some gardening? This can be of great help to you and your agent.
These tips will ensure that your home buying experience is a positive one. It may seem like a tall order, but it’s a worthwhile endeavor as you search for your dream Palm Springs home for sale.