Buying property may seem scary these days when everything feels uncertain. But the real estate industry has absolutely not shut down – and with the right guide, buying a house may actually be a smart move for you.
Here are the steps and considerations you need to know to ease any anxiety you have about real estate in Dublin, CA.
Start with the basics
If you find a property you like, and you have a stable job and access to financing at really low rates, buying a house is definitely a smart decision. This applies whether you’re looking to buy a home or an investment property. Once you have these down, consider the following:
- How long do you plan to live in that house? If it’s less than five years, it might be best to choose a property that can gain significant value.
- What factors are the most important for you? Spending for the right neighborhood over a well-furnished house could be wise, especially since you can improve the property over time. A house in a good school district, for instance, will be able to retain value even in a declining market.
- Do the terms of your financing meet your capacities in the present? More than ever, it is important to have a good grasp of how much you can actually spend.
For all of these concerns, consulting a reliable real estate agent is important as they can provide timely insight into the market that can inform your choices.
Follow a contactless mortgage process
The unique challenge with buying a house in the new normal is that the traditional mortgage process, which relies on a lot of face-to-face contact, is not feasible. But now, every step of the process is possible virtually.
- Application: Many large banks and lenders offer secure online applications for mortgages, so you can simply submit your application from the comfort and safety of your home. Make sure to check how much house you can afford in order to make the prequalification and preapproval process go smoothly.
- Appraisal: For home appraisals, alternative methods are acceptable. These include online search, drive-by appraisals, and a virtual tour, in which the real estate agent or homeowner can give the appraiser a video tour of the property.
- Closing: Signing mortgage documents in person has been the industry standard for the closing, but now, contactless closing is possible in California and many other states. Some buyers sign the documents electronically, while some sign documents delivered to them while on a video call with a notary.
I know that the times and the variety of options and homes for sale in Dublin, CA may feel intimidating, but know that you don’t have to go through the process on your own. As an experienced realtor, I can completely guide you at every step so you don’t have anything to worry about. Reach out to me, Alice Chen, at 925.216.0676 or alice(at)alicewlchen(dotted)com and let’s dive into this venture together.