Santa Monica Foreclosures - Find Them Tip 331

For most recent college graduates, purchasing their first home may not be a financial reality or a top priority

. It is something to seriously bear in mind though. Owning a home gives you various benefits, including the fact that you will have a steady investment and you also may be eligible for tax breaks. In fact, a great investment at present in terms of property would be to invest in Santa Monica foreclosures.

. The following article is intended as advice for young people who are looking to acquire a home, before we begin though, if you are searching for a property in California, look for Santa Monica foreclosures on Google:

1. Save and Establish Your Credit History

The first step to achieving financial independence is to consistently save a portion of your income for future needs. Savings early in life can contribute to increasing the size of your down payment and reducing the monthly payments on your first mortgage. One method to ensure that you have a strong credit rating is to always pay bills by the due date.

2. Budget

You seriously need to think about what you can actually afford. Within your home budget you need to allow for taxes and mortgage repayment levels amongst many other things. If you are pre-approved for a mortgage and understand your upper limits then you will find your home search much easier. A non-essential for example may be attempting at acquire Santa Monica foreclosures

3. Define Your Purpose and Identify Wants vs. Needs

Once you know your price range, the next step is to make a list of the reasons why you want to buy a home and the characteristics of the property that you would like to find. First time buyers will usually have to make numerous compromises. By way of example, you may not want to compromise on location, but you might be willing to forego an extra bathroom to acquire a house in the neighborhood of your liking. Or one of those Santa Monica foreclosures!

4: Select A Real Estate Agent

Now that you have researched the market, identified your reasons for buying a home, and the characteristics that you value in your first property, the next phase is to select a realtor that is best positioned to deliver the results that you require. Talk to your friends and family about their experiences for some advice. Always try to select a realtor who will work for your benefit. When I searched for Santa Monica foreclosures I don't think I would have ended up with a house without the real estate agent's help!

Finally: Follow Through With An Offer On Your Selected Property

When you are aware you have found that perfect home, please just make an offer! Your realtor will be able to help you with this. Identify what exactly is most important to the seller (price, closing costs, etc) and negotiate for other concessions that generate additional value for both parties at closing. I received at whopping 30% discount when I was looking for Santa Monica foreclosures.

Acquiring a house is a huge move to make. Your first purchase will be very daunting for you. However, you can position yourself for success and home ownership by following the simple strategies outlined in this article.

On a concluding note, if you're looking for a home in California then search for Santa Monica foreclosures.

Santa Monica Foreclosures - Find Them Tip 331

By: Terrell Boyer

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