Purchasing A Starter Home In Bay Area - Here Are A Few Things You Need To Keep In Mind


Posted November 8, 2017 by luxurybayareareal

The San Francisco Bay Area may have several advantages but price is definitely not one of them.

 
The San Francisco Bay Area may have several advantages but price is definitely not one of them. Do you know that Bay Area is home to 12 out of 25 premium real estate markets of USA. But that doesn't mean you cannot purchase a home in this region. Whether you are a millionaire techie or not, you can always purchase a starter home in this region. Just keep a tap on below given points:

The first thing that you need to understand is the purpose of starter homes. It is a basic level property that comes with all possible amenities and gives buyer a chance to get into the premium real estate world. You wouldn't be living here forever, it is just a means to build equity that will allow you to purchase a better property in future.

Since you will be spending minimum 4-7 years in this arena, there is a basic set of amenities you will need. So make a list of all 'must-haves’ before you start taking notes about availability of various options. You can always begin with proximity to schools, number of bedrooms, quality of home, and things like that.

Although it is a good idea to have a home in this area but make sure it doesn't exceeds your budget. Be realistic about the price you can pay. You will be expected to pay full price in cash or may need to go above the quoted price by 10-20 percent. Make sure that is in your capacity. All expenses including EMI, mortgage, property tax, registration number should not exceed 28-30 percent of your total income.

You can always try to be a little flexible about location. Consider this, the median home rate in San Francisco last year was $1.3 million, it means your paying capacity may allow you to purchase a better home in a close neighborhood or a suburban area located near by. Don't be obstinate about location or you may end up paying much more than you planned for an average property.

Luxury Bay Area Real Estate is a helping hand  for those who are looking for some good homes in  the Bay Area. Whether you need a move-up home or a starter home or a premium Estate, their offerings cover complete range of houses one can think of.  To know more, please visit the official site at http://luxurybayarearealestate.com. Other contact details are as follows:
Address: Luxury Bay Area Real Estate, Realty One Group, Infinity 910, E. Hamilton, Campbell, CA - 95008.
Phone: 408 425 1928
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Issued By Luxury Bay Area Real Estate
Website Luxury Bay Area Real Estate
Phone 408-425-1928
Business Address 910 E. Hamilton Ave. #100, Campbell, CA
California 95008 USA
Country United States
Categories Business
Last Updated November 8, 2017