Profile picture for zuser20140302201852830

DO ANY BODY HAVE ANY NEW BUYER ADVISE FOR A 23 YEAR OLD?

I AM TRYING TO MOVE TO SAN DIEGO WITH MY WIFE IN A YEAR AND I WANT TO GET A HOUSE BUT DO NOT KNOW WHERETO START
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 02 - San Diego
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (13)

First go to your bank and find out what you can "qualify" for in terms of a loan. The loan officer should ask for quite a bit of financial information in order to provide you with a Pre approval loan letter.
Then interview "Buyer Agents" who work in the neighborhoods you want to purchase in. Once you have met with and agreed to work (via contract) with your Buyer Agent, your agent will guide you every step of the way to home ownership!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 08
The first step is to determine what you can truly afford, so contact a lender to discuss getting pre-approved for a loan. Typically pre-approvals last 60 to 90 days, then you'll need to update your information with your lender to extend your pre-approval. To expedite the process, you should gather the following information:

● Most recent pay stubs for one month.
● W2's from the last two years.
● Signed copies of your last two years' tax returns, including all schedules that were filed.
● Homeowner's insurance company name and number.
● Most recent bank statements for two months.
● Most recent statements from any retirement and investment accounts for two months.
● CA Driver's License
● Social Security Card
 
Once you get pre-approved, then you are ready to begin your search. You can start by visiting open houses on your own, but you will be able to access many more homes by working with an agent. Agents can show you homes on lock boxes any day of the week and even find homes that haven't hit the MLS yet. Remember, in the vast majority of cases, the buyer (you) will not pay your agent anything for their services. Payment of their fee typically comes from the seller. You are making a wise choice by choosing home ownership over renting. I wish you the best in finding your first home!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 28

Looks like a great amount of content to think through from the group.  Here are 5 additional tips for a first time home buyer.

1.Start checking out open houses: Get a feel for what's in the market.  Don't know where to start?  An experienced, local agent can help curate listings for you.  The key is to find one that meshes with you well, and you can trust to represent you, the buyer.

2.Talk to friends & family: I'm an advocate of getting as much information from friends and family, who have gone through the home buying process, as much as possible. Just remember that it's a starting point, and ultimately, you'll also want advice from professional real estate agents.

3.Find a real estate agent: There are DIYers, who prefer to search for homes on the Internet, and there are others who want to have full service real estate agents to walk them through the process.  In either case, there's always a place for a real estate agent to help.  Best of all, as a buyer, you pay no commissions.  The seller of the home almost always will pay the buyer's real estate agent commission fees.

4.Buying vs. Renting: Sometimes continuing to rent and putting your down payment money elsewhere might make more sense in the short term.  In certain neighborhoods, it actually makes more sense to rent vs. buy.  Use an online calculator or find a local real estate agent to help you.

Hope this helps, and good luck!
[Promotion removed by Zillow moderator. Please see our Good Neighbor Policy for information.]

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 08
Congratulations! You are smart to start the process of home ownership early in life. 1. So may people were correct in the fact that you need to get pre-approved. However, you need to talk so a lender that is local. I would be happy to refer someone to you. I don't work in the lending business myself. 

A good website with free information for first time home buyers is [deleted by Zillow moderator] They have a buyer resources page with things like 7 steps to buying a home and 8 questions you should ask before hiring a real estate agent. Give it a look, it should help you out.

J.R. Thrasher

[contact info and websites deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 07
Yes. Start by talking to your bank about Pre-Approval for a home loan and looking carefully at your credit. Your loan officer will advise you. Once you know what you can afford, you can then contact a Realtor who works in the Neighborhood you want to buy in. Your Realtor will "walk you through" the steps to home ownership!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 04
Hi there, I really do love working with new buyers!

The home buying process may seem daunting, but it's really not. If you choose your agent well, you'll have each step explained to you before it happens. This reduces the chance for surprises, and  Surprises = Stress.

Your agent will also understand each step of the loan process, and will be able to explain it to you before you submit an offer. Better, before you start working with them.

You don't need an agent that specializes in a certain area. It sounds good in marketing, but with data at our fingertips, and our daily experience working outside of "our" city, we have a better view of the market as a whole, and the smaller sub-markets.

Your agent will need to tailor your offers strategically, so you stand a better chance of winning over other offers, and I don't mean just a higher offer price. Hopefully, when you're ready to buy, it won't be such a seller's market. We can predict, but we can't know for sure.

But - to get started, you need to know what you can afford to buy, what you need in a new home, what you want in a new home, and where in San Diego you would like to live. So:

1) Call a couple of lenders (I have a few that I trust, just let me know & I'll send them to you). Since you're not buying for a year or so, the number may change. If you get a quick pre-qualification, it'll work for now, but again, the number may change when it's time for you to get a full documentation pre-approval (when you're ready to visit homes and submit offers). But, it'll give you an idea for now.

2) Start two lists, one for what you need in a new home, the deal-breakers, and one for what you would like to have. Your budget and where you'll buy will determine how many of the wants you'll be able to have. Wants can also be added over time, like granite for example. Location, however, cannot be added later.

3) Decide what part of town you'd like to live in. In the beginning, choose several, or a radius. Your agent, especially if they're knowledgeable in many markets, can help too, since they know pricing.

4) Have listings sent to you that are within your price range, in or close to your target areas, and that meet your needs criteria.

Over time, you'll be able to narrow down your areas, either because you like those areas, or you like what you can get in those areas. By the time you're ready to buy, you'll have a great overview of the markets where your looking, and a solid understanding of pricing.  And, having an agent on stand-by will be really helpful, to answer questions about the market, or homes you're seeing, or neighborhood information, etc.

When it's the to look at homes and submit offers, you will know the next set of steps!

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
CalBRE Lic # 01443391


  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03
Good Morning,
I would be happy to assist you in making a plan for your move here next year. Click on my name to contact me and we ca get started right away!!

Thanks!
Sinead McAllister
McAllister Homes Real Estate
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03
Hello, Bly's Realty Group covers San Diego County. Please feel free to contact me. I can help you through the process of purchasing a home here in San Diego,CA.

Thanks,
Bly's Realty Group

Richard Bly:
Broker - CA. Notary Public

CA. Real Estate Lic. #01765273

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03

Good Morning,

I congratulate you in making the decision to purchase a home! Since you have almost a year, there are a couple of things that you definitely want to start doing now to ensure that you have no problem qualifying for a mortgage loan when you're ready:

1) Save as much money as possible!
2) It will definitely make it easier to qualify if the money you save is deposited into an account that has no other deposits/withdrawals/activity going in and out of it, as underwriters need to document any and all activity
3) Be mindful about what you claim on your IRS tax returns! Whereas claiming less income helps you pay less in taxes, it may also affect how much money you can qualify for when applying for a home loan
4) Pay down as much debt as possible! This can't be emphasized enough. Besides increasing your credit score, paying down your debts also helps you qualify for a larger loan. If you have less non-mortgage obligations, you will have more disposable income with which to qualify.

I hope this helps. If you'd like to have a conversation, feel free to reach out to me at:

[Content removed by Zillow Moderator. Please see our Good Neighbor Policy]

Hope to speak with you soon!

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03
great choice to be a buyer at a young age .Things to be aware of location is very important in maintaining value as well as appreciation. Always go with an affordable payment you never know what comes up in life in the future that can make your payments become difficult always remember you can always make extra payments on a loan to shorten up the loan to save money but once you sign a loan your obligated to fulfill your promise to pay that loan .The worst thing you can do is to be unable to make the payments which would result in default and ruining your credit standing.Although its great to buy go in with open eyes and realistic expectations .Best of luck
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03
Make sure you have a job lined up for when you get there talk to a lender from that area to help you and make sure you keep your credit high .. But first talk to a lender in that area and they can tell you what you will have to do
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 03
It depends on a lot of things, If you are a firefighter, policeman or teacher CalHafa loans are helpful with down payment assistance. A lot of times if you know what city you want to live in you can go onto the city website, look for housing tab, and it might have a down payment assistance. Once you know where you want to live and possibly use their down payment assistance, they always have a list of preferred lenders. Once you find out what you qualify for, then contact a local agent. Good luck
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 02
Profile picture for wetdawgs
Here's a link to Zillow's collection of articles called "buyer's roadmap".  It will  help you get started.  bookmark it so you can work through it step by step.      San Diego is a very expensive area, so  be saving like crazy before you move.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 02
 
Related Questions
Buy house without SSN and ITIN?
Profile picture for jessicagonzalez1181994
Latest answer by jessicagonzalez1181994
4 days ago | 4 answers
Closing Cost
Profile picture for Dennis Rooney
Latest answer by Dennis Rooney
5 days ago | 3 answers
Should a first time home buyer avoid purchasing a condo in litigation within Downtown San Diego?
Profile picture for Arpad Racz
Latest answer by Arpad Racz
August 13 | 3 answers
I'm interested in investing in some vacation rental income property. How do I get started?
Profile picture for sinoundip
Latest answer by sinoundip
August 10 | 15 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 2921 Summit Dr, Escondido, CA Home For Sale
    2921 Summit Dr, Escondido, CA 92025

     For Sale: $2,450,000

    • Beds: 5
    • Sqft: 6500
    • Baths: 5.5
    • Lot: 87120
  2. 2268 Flatiron Way, San Marcos, CA Home For Sale
    2268 Flatiron Way, San Marcos, CA 92078

     For Sale: $499,000

    • Beds: 3
    • Sqft: 1775
    • Baths: 2.5
    • Lot: --
  3. 15583 Rising River Pl S, San Diego, CA Home For Sale
    15583 Rising River Pl S, San Diego, CA 92127

     For Sale: $1,399,000

    • Beds: 4
    • Sqft: 4192
    • Baths: 4.5
    • Lot: --