Confessions of a First-Time Home Buyer in Laguna Niguel

Buying a home for the first time is one of the most exciting journeys you can embark on, especially when you have your sights set on beautiful Laguna Niguel. Surrounded by stunning beaches and peaceful nature preserves, Laguna Niguel is perfect for outdoor enthusiasts looking for a little bit of everything. Its balanced blend of suburban energy and upscale living makes it an ideal place for anyone searching for a top Orange County property. But if you have your eye on Laguna Niguel real estate and haven’t invested before, there are a few mistakes first-time buyers often confess to. To stay on the right track, you’ll want to keep the following tips in mind.

If you’re taking out a loan to finance your first home, your lender will do a complete audit of your personal finances. That means reviewing your current debt and repayment history, your income streams, and, yes, your credit score.

Several factors affect your credit score, but payment history has the most significant impact. This means, prior to starting your search for Laguna Niguel houses for sale, you need to make sure you’re making your credit card payments on time each month.

Your credit score can also be impacted by the amount of credit you take out, how long you’ve been building credit, and the different types of credit you’ve used. First-time homebuyers sometimes don’t realize that their credit score can make a considerable difference in the type of loan they’re able to take out.

As you narrow down a list of lenders and find the one you’d like to work with, make sure you’re applying for preapproval vs. pre-qualification. These terms are sometimes used in place of one another, but there’s a distinct difference that first-time buyers aren’t always aware of.

When you apply for pre-qualification, you submit information to your lender. They don’t take as close a look at your finances and only provide a rough estimate of what you might be able to afford. If you apply for preapproval, however, your lender will seek out information themselves, completing a more comprehensive review and providing an estimated interest rate and the total loan amount you’re eligible for.

Finally, one more thing first-time buyers confess is not knowing that preapproval isn’t the end of the road. Once you’re preapproved you still need to earn final loan approval during closing. If this sounds like a lot of hoops to jump through, don’t worry. A top Laguna Niguel real estate team can walk you through it with no problem.

This is easier said than done when you’re buying your first home, but it’s something many first-time buyers wish they’d paid attention to. It can be tempting to put in an offer on the first house that excites you, but it’s worth it to take a deep breath and consider all the factors.

Really think through your list of priorities in a property. The number of bedrooms and the total square footage are important, but how will you use your home? What kind of lifestyle do you want for yourself? What amenities or sights are most important for you to be close to? As you start the home hunt in earnest, keep these things top of mind so that you can evaluate exciting properties through a more objective lens.

In the media, a home hunt always seems quick and easy. First-time buyers view three properties spread out over three days and then get to take their pick. In reality, finding the right home can take time. First-time buyers may find themselves getting discouraged when it’s been a few weeks and they still haven’t found a home they love. Just remember that it’s better to wait for a property that sings all the right notes than jump into buying a home that doesn’t feel like the right fit.

In the luxury market, first-time buyers can sometimes wonder whether home inspections are necessary. They see a stunning, multi-bedroom property with a newly renovated interior and assume its structure and systems are all up to date as well. But a home inspection is always worth the investment.

Sometimes things come up in the inspections that give buyers a chance to renegotiate their offer or pull out of the deal. What you don’t want is to end up investing more than you were expecting because you didn’t know the property had issues beneath the surface.

First-time buyers don’t always realize that the time of year can impact demand, inventory, and pricing. Unlike many markets across the country, which show spring as the peak season for demand, fall and winter can be ideal times to buy a home in Southern California. What first-time buyers should remember, though, is that local markets will always differ in certain ways from regional and state-wide markets. So, partnering with a local agent can ensure you know when inventory is likely to be highest, demand lowest, and prices at their best.

To avoid having your own list of first-time buyer confessions, it’s essential to work with a real estate team that knows the Laguna Niguel market through and through. Expert insight into current listings and property styles is one thing, but local agents can also help you pinpoint the perfect part of town for you and your family. If you’re looking to partner with the top team in the city, the zRE Group is known for its dedicated work ethic and commitment to helping each client meet their individual goals.

If you’re eager to start your search for Laguna Niguel houses for sale, reach out to an expert agent like Carly Zamani of the zRE Group.