8 Things You May Not Know About Buying San Juan Capistrano Luxury Real Estate

8 Things You May Not Know About Buying San Juan Capistrano Luxury Real Estate

  • Carly Zamani
  • 12/25/22

Every real estate market is distinct, with demand, inventory, and pricing that may not reflect state-wide trends. If you’re planning on investing in San Juan Capistrano in the coming year, make sure you’re prepared and know what to expect before you dive into the market. This guide walks you through a few things you may not know so you can invest with confidence.

1. The San Juan Capistrano market is fairly competitive

Demand for San Juan Capistrano real estate is staying strong, though not strong enough to drive prices ever skyward. In fact, prices have dipped in the past 12 months, which could encourage buyers to get out there and see what they can find. Taking into account many of California’s other markets, it’s a good time to consider exploring San Juan Capistrano luxury homes.
 
Inventory isn’t as high as it could be, though the number of properties on the market tends to shift with the seasons. Spring and summer typically see a rise in listings as more buyers step into the home hunt. However, dozens of stunning properties are available, ranging from cozy 1,300-square-foot homes to striking properties spanning more than 14,500 square feet. Interested buyers are sure to find a home that speaks to their goals as they work with a local real estate agent who’s up to date on the latest listings.

2. The area has a wealth of history


Southern California is synonymous with beautiful desert, ocean landscapes, and temperate year-round weather. But what many don’t know about areas like San Juan Capistrano is the deep history that surrounds the community. The city’s main Mission San Juan Capistrano and Mission Basilica are just two of the gorgeous, historic structures minutes from town.
 
The Ronald W. Caspers Wilderness Park and Laguna Niguel Regional Park invite residents to spend ample time outdoors, or there’s Dana Point, the Talega Golf Club, and the Marbella Country Club. The area’s charming downtown center rounds it out as one of the best places to call home south of Los Angeles.

3. Property taxes may not be what you think

Most online listings will include the home’s current property taxes. Many buyers assume that’s the amount they’ll also be paying, but that isn’t necessarily true. In California, property taxes are reassessed at the start of each year, so the taxes a current owner is paying may not reflect what a buyer will pay down the line. Taxes also depend on the price of the property. California’s property tax sits lower than the national average, at just under .75%. Buyers should always take this into account when determining their final offer for any property.

4. Home valuations should come from an agent

It’s easier than ever to pop online and see what a home is listed for. However, home buyers should be aware that homes could be priced higher than their fair market value. Even if you submit an offer for the home’s listed value, you want to make sure that it’s really worth that much. Working with a real estate team that provides home valuations can be a good place to start, or you can hire an independent appraiser. Ultimately, you want to do your due diligence in confirming whether the price you commit to is reflective of the property you’re receiving.

5. Sellers typically cover commission

Many buyers assume they have to cover 100% of their real estate agent’s commission fees, but that’s not always the case. Typically, sellers cover that cost, though there may be discussions involved regarding how much they’re willing to put towards it. Some sellers will negotiate a percentage of the buyer’s commission that they’ll cover. If you’re reviewing your contract and see that the seller isn’t covering any of that cost, you should consider bringing that up in negotiations.

6. You could be approved for a loan you don’t need


One thing buyers don’t always realize is that they could be approved for a loan they don’t need. If you’re hoping to take out a mortgage, you’ll need to complete the preapproval process with the lender you choose. Shop around until you find a local lender who can offer a competitive interest rate.
 
From there, the preapproval process is an audit of your financial history, going into your credit score, repayment history, current debts, income streams, and expenses. A lender takes your information and determines the size of the loan you can afford to take out. However, you may be approved for a loan that’s higher than you were expecting. It’s always wise to stick to your original budget, even if your loan could afford you more so that you don’t end up spending more than you can manage down the line.

7. Inspections still matter in the luxury market


Even though you’re investing in a beautiful luxury home that appears up to date or newly renovated, it’s still wise to hire a professional inspector. Inspectors dive deep into a home’s structure and systems to ensure that there’s nothing wrong. Foundational issues, problems with the roof, or signs of damage in the plumbing, heating, or electrical systems aren’t easy for the untrained eye to detect. By hiring an inspector, you’re ensuring that you know what you’re signing up for as you invest. It can strengthen your negotiations as well, as you determine whether the seller will cover the cost of repairs prior to closing or whether you’ll take that cost out of the total price of the home.

8. Real estate agents make the entire process easier

Real estate agents are truly a buyer’s best resource when it comes to investing in San Juan Capistrano luxury homes. Carly Zamani of the zRE Group knows that buying real estate is about more than a transaction. It’s about stepping into a whole new life. With proven leadership and negotiation skills and a dedication to putting her clients first, Carly welcomes anyone looking to discover all that San Juan Capistrano has to offer. If you’re hoping to find your next dream home in Southern California, get in touch with Carly Zamani.




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