A home is probably the biggest financial investment you’ll make in your life.

Before you get started, do some homework. This handy Buyer’s Guide will

show you some things to keep in mind as you’re hunting for that home of

your dreams.

How much house you can afford is largely dependent on how large a

mortgage – basically, a home loan -- you can handle. Start your research by

using the simple mortgage calculators I have on my website to see whether

you can afford to pay the monthly mortgage on the kinds of houses you have

in mind.

You may even apply for a mortgage at a lender before you start looking for a

home. This is called getting pre-qualified for a loan; it will tell you exactly

how much you can afford and may make the closing process go faster.

But, remember that owning a home involves more than a monthly mortgage.

You’ll also have to consider money you’ll need to have at hand when you

make an offer, when you close on a home and on a monthly basis after the

home is yours.

Payments you may have to make when you submit an offer and at

closing include:

Earnest money, usually 1% to 5% of the cost of the house, which you pay

as a deposit on the house when you submit your offer. It’s your proof

that you’re a serious buyer down payment, usually 10% to 20% of

the cost of the house, which you must pay at closing

Mortgage insurance, paid by borrowers making a down payment of less

than 20%

Closing costs, usually 3% to 4% of the cost of the house, to pay for

Utilities

Homeowner or condo association dues

Property taxes

City or County taxes

House hunting can be both exciting and frustrating. Most homebuyers see

roughly many houses before buying one. To make the search easier and

faster, nearly half of all house hunters today begin by browsing for properties

on the Internet, using web sites like this one. Please go to my home page

and click on the "Search For Homes" link and you will have access to the

same data as Realtors in the areas from Burbank to Thousand Oaks in Los

Angeles County. For Ventura County Property information click on the other

link "Here" on my homepage. This information is up-to-date and accurate.

Other sites on the internet do not provide up-to-date data and lag behind my

site.

The Internet is a quick way to see whether the houses that are currently

available meet the following critical criteria: in the right location, with the

right features and at the right price. If you find after your search on my

website that few properties meet with your expectations, you may want to

readjust your criteria – change the location, features, price – to increase your

chances of finding a house that works for you. If you have any difficulties in

this initial search, feel free to contact me for assistance. Homes can become

available instantly and I'am always the most current resource for literally up

to the minute new home listing information.

Once you know what you want, where you want it and what you can afford,

it’s time to see the houses for yourself. To help stay focused, bring with you

a checklist of things that you’ve decided ahead of time are important

qualities of your future home.

This might include:

Is there enough room for you to grow in?

Is the house structurally sound?

Is the house in move-in condition or will it need work?

Is it close enough to everyday needs, such as grocery stores, schools,

work?

Will you feel safe here?

Do the appliances that are part of the sale work?

Is the yard right for your needs?

Do you like the floor plan?

Is there enough storage?

Will you be happy in this house in winter, summer, spring, fall?

You may also want to take some exterior and interior photos of each house

you visit so that you can keep track of its pros and cons.

When your offer has been accepted, the contingency period begins. This is

time that allows you to obtain financing, perform inspections and satisfy any

other contingencies of your purchase agreement.

Obtaining financing might include loan approval, which will include an

appraisal of the property. Also be prepared to make your down payment,

which is usually due several days before the close of escrow.

Now is the time to schedule a professional inspection of the property; it is

one of the best safeguards you can take before buying. A home inspector

should check (and may give you a rough price for repairs on) the electrical

system, plumbing and waste disposal, the water heater, insulation and

ventilation, water source and quality, pests, foundation, doors, windows,

ceilings, walls, floors and roof.

Keep in mind that the inspector isn’t there to tell you whether you’re getting

a good deal. He or she is there to give you an educated opinion on whether

the house is structurally and mechanically sound and fill you in on any

repairs that are needed.

A paid homeowner’s insurance policy is required at closing. I will help make

sure your insurance company and your title officer are working together to

put your policy in effect by the close of escrow. But, if you get your insurance

agent involved early in your home-buying process, he or she may also help

point out ways to help keep your insurance premiums lower.

When the property you’re buying has been inspected and you’ve had your

final walk-through of the property to see that all contingency conditions –

such as final repairs made by the seller -- have been met, it’s time to face

the paperwork. You will be signing loan documents and closing papers,

paying the balance of your down payment and closing costs. This is the day

you get the keys to your new home. Congratulations!