San Joaquin Valley Homes Blog

Blog Archive for December, 2015

Millennials Beware: Rookie Home Buying Mistakes You Should Avoid

Categories: SJV Homes Blog | Posted: December 28, 2015 | Comments Off on Millennials Beware: Rookie Home Buying Mistakes You Should Avoid

If you are looking to buy a home for the first time, these tips will apply to you at any age. But, according to the National Association of Realtors, the millennial generation represents the largest share of those in the market to buy a home.

Even if you’ve been through the real estate drill before, it doesn’t hurt to review rookie home buying mistakes that you and everyone should avoid.

Mistake #1: Incorrectly estimating what you can afford

All too often, and not just with younger people, many buyers forget to include mortgage principal and interest, homeowners insurance, real estate taxes, and homeowner association fees (if applicable) when calculating their monthly payments. As a general rule, the total should not exceed 28% of your gross (pre-tax) income.

Mistake #2: Not getting pre-approved by a lender

A lender will tell you exactly how much you qualify for, which will keep you focused on homes in the appropriate price range. This will save you and your real estate agent loads of time. Be sure to have your W-2’s, bank and investment statements, as well as pay stubs handy to ensure a timely turn around with the lender.

One of the benefits of getting pre-approved is that you will have a competitive advantage in the housing market over any bidders who do not have a pre-approval.

Note: the amount your lender approves you for, is what you qualify for. Remember to factor in the components from mistake #1, as well as mistake #3 (below), to understand what you can actually afford.

Mistake #3: Being unaware of other associated costs

There are a few costs associated with purchasing a home that many buyers neglect to prepare for such as closing costs, as well as escrow, appraisal and inspection fees.

Mistake #4: Not using a professional

With the convenience of online real estate databases, many buyers are fooled into thinking they don’t need a real estate agent. And technically, they don’t. But the fact that the investment you are making will most likely be the largest investment in your lifetime, and you will be signing a 60 to 80 page legal contract to do so, is proof enough that you do need a professional.

Also, Realtors have proprietary access to every home that is currently “for sale”, “under contract” or has “sold”, within a multiple listing service; which is updated in real-time, as opposed to online databases that all too often have outdated information.

Mistake #5: Assuming you can afford your dream home

If you can truly afford your dream home, that is wonderful! But the truth is, many people can’t afford everything on their wish list. Discuss all “must-haves” and “deal breakers” with your real estate agent; and be realistic when they tell you what is available in your price range. Many wish list items are cosmetic and can always be added later on down the road.

Mistake #6: Letting your emotions take over

Buying a home, be it your first or last, is an emotional experience. Even the smoothest of deals come with a variety of intense feelings.

Letting your emotions get the best of you, puts you in danger of making a big decision with your heart instead of your brain. Keep a cool head and refer back to the must-haves and deal breakers as compared to what is actually available.

Conclusion

Purchasing a home is a big deal, especially if it’s your first time. Knowing what you can truly afford, using a real estate professional, being realistic, and keeping a cool head, will help you to avoid rookie home buying mistakes.

Looking to buy in the Central Valley? From the first handshake to the moment we hand you the keys to your home, San Joaquin Valley Homes is committed to making your experience a happy one. Contact us today to learn more about how we can assist you in the purchase of a beautiful new home.

Your Children and Your New San Joaquin Valley Home

Categories: SJV Homes Blog | Posted: December 21, 2015 | Comments Off on Your Children and Your New San Joaquin Valley Home

kids - paid

You could gush on for hours on what you like about the San Joaquin Valley home that you intend to buy. The open floor plan, the stainless-steel appliances and how the community center gives  you the benefits of a pool without any of the upkeep.

So why are your kids not as excited? Not only do they whine and moan about the new digs but they’re openly hostile about your planned move. Put yourselves in their little shoes for a second. Your parents just told you that we are moving to a new house in a few days. You don’t know why since you’re perfectly fine with the only house you’ve ever known. You suddenly have to leave all your friends and your school to deal with something that is unknown and scary. It’s no wonder that you don’t want to go. Read the rest of this entry »

How to Turn Your New Home into a Sleep Friendly Zone for Your Family

Categories: SJV Homes Blog | Posted: December 14, 2015 | Comments Off on How to Turn Your New Home into a Sleep Friendly Zone for Your Family

Studies on sleep all point to the same thing: the majority of people need from six to eight hours of sleep every night, and kids need even more. (See here for a WebMD list of how much sleep children need at various ages.)

THE IMPORTANCE OF SLEEP TO YOUR FAMILY’S HEALTH

Sleep does some pretty crucial stuff to your brain: Read the rest of this entry »

5 Holiday Survival Tips For Owners Of New Homes In Hanford, California

Categories: SJV Homes Blog | Posted: December 7, 2015 | Comments Off on 5 Holiday Survival Tips For Owners Of New Homes In Hanford, California

The holiday season is stressful for new home owners. Moving around the holidays is never enjoyable, and the first holiday season in a new home comes with its own set of unexpected pressures. Here are the holiday survival tips you need to survive the holiday season in your new home in Hanford. 

1. Invite Your Family To Your New Home

This might seem counterintuitive. The last thing you want as you struggle to get settled into your new home is a house full of guests. There is the cleaning, the cooking, and the inevitable family feuds that arise around the holidays. There are so many reasons to dread holiday guests, especially with a new house, that we forget that family is what the holidays are all about.  

Your family won’t care if you are still half unpacked from the moving process or are still deciding on an interior decorating scheme. If they do care about these things, let it slide. Don’t let a new home keep your family apart during the holidays. Besides, they want to see your new place as well as you and yours.  Read the rest of this entry »