Preparing to Scout Costa Mesa Houses for Sale: 4 First Steps
How to find and buy your first home is one subject that high schools decline to teach. An online canvass of theories why this is so yields two main lines of thought.
The first is that it is one result of a conspiracy to keep young people from making smart financial decisions. Not clear is who the masterminds behind this might be, nor how they would stand to benefit.
The second theory is more commonly cited by high school teachers. They say that instruction on the ins and outs of buying a house is ineffective “due to age-appropriate interests.” Buying a house is “too far off” to engage high schoolers. One teacher’s dismissal is typical: “Not useful for my students as teens”—an argument that’s hard to dispute.
A few weeks ago, the ramseysolutions.com website ran what might be considered an adult-school-level attempt to remediate the gap. It boiled down to four basic steps that neophyte house hunters should take “before they hit the pavement”:
- Know what you can afford. Taking this step seriously before even starting to check out the current crop of Costa Mesa houses for sale helps to derail a preventable mishap: “falling in love with a house that will pulverize you” with the monthly payments.
- Save for the down payment. Since these steps are presented on Dave Ramsey’s website (he’s famous for hating debt above all else), he cautions that at least 10%-20% should be marshaled to avoid the imposition of mandatory private mortgage insurance—an avoidable extra expense. That’s good advice for those who can afford it. But if sticking to that strategy could well mean delaying homeownership for a lengthy period (or forever), it’s worth considering the ultimate financial advantage that owning your residence is bound to bring.
- Get preapproved for your home loan. The preapproval process not only shows borrowers which factors lenders look at—it also gives sellers a reason to choose one offer over others.
- Find a real estate agent.
Ramsey’s four steps are definitely valid, but there can be some disagreement about the order in which they’re listed. We would recommend switching #4 closer to the top. After all, having an experienced Costa Mesa real estate professional as your sounding board early on can help with all the others!
We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at info@thel3.com
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