Real Estate Companies | Culver City | Buying a Home Buying a home is a complicated transaction. SWI Realty Inc., a leading Culver City real estate company, will help ease the process.
What to Know Before You Buy a Home Every homebuyer has different needs and different means to meet them. One of the leading real estate companies in Culver City, SWI Realty Inc., will help you figure out the answers to some of the basic questions. •
What can you afford? Monthly payments on a mortgage may be competitive with apartment rents today, but there are other things to consider. First is the down payment. It can range from 3 percent with FHA loans, to 10 percent with excellent credit and added costs for mortgage insurance, to 20 percent and above. But also consider local taxes, closing costs, moving expenses. Don’t go into a home purchase without enough cash on hand.
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How long will you live there? Five years is a good benchmark because you won’t be building much equity in that time. If you’re not planning to stay that long, it might be cost-effective to continue renting.
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Know the neighborhood. Schools, crime and shopping are factors. Visit the neighborhood at night before making an offer. Also, check traffic patterns during rush hour so you’ll know what your commute will be like.
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Be present for the home inspection. Make sure the inspector notes any needed repairs. You may not be able to get a lower price due to any problems, but you will know what work needs to be done – and if it’s too much, you can walk away from the deal.
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First-time homebuyers are often confused by the complexity of the process, especially the closing costs, which are often estimated on the high-side. A good Realtor will help ease these concerns. Call SWI Realty Inc., at (310) 204-8971, for real estate services in Culver City. The email is info@swirealty.net. SWI also serves the Westside and other nearby areas of Los Angeles.