Ten Steps to Prepare for Home Ownership

  1. Decide how much home you can afford. Generally, you can afford a home equal in value to between 2 and 3 times your gross income.

  2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.

  3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.

  4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 and 7 percent of the home price.

  5. Get your credit in order. Obtain a copy of your credit report.

  6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.

  7. Organize all the documentation a lender will need to preapprove you for a loan.

  8. Do research to determine if you qualify for any special mortgage or downpayment assistance programs.

  9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.

  10. Find an experienced REALTOR® who can help you through the process.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright / All rights reserved.

Click here for printer-friendly format

Contact Us

By choosing David and Danielle Contreras at SanJoseHighRises.com as your trusted real estate partners, you gain exclusive access to our extensive portfolio of high-rise properties in the Silicon Valley. Our meticulously curated selection of listings by complexes and areas, are all featured prominently on our website. With our finger on the pulse of the Silicon Valley real estate market for the last 18 years, we possess the insider knowledge required to identify hidden gems, pre-market listings and navigate market trends. Want to be part of the coming soon club?

We understand that purchasing a home is a significant investment, both financially and emotionally. That's why our team of seasoned professionals are dedicated to providing you with unparalleled customer service and support. From the moment we make contact, we will take the time to attentively listen to your unique living situation and help with your best path to home ownership. When working with us we will diligently research properties that align with your preferences, and guide you through each step of the buying process. With our expertise and personalized approach, we are committed to exceeding your expectations and ensuring your satisfaction. Make the informed choice and contact us today to embark on your journey towards finding the perfect home in this vibrant Area Of The Bay.

* Required