Buying a home in today’s market can be expensive, which may cause some California residents to feel as if they cannot afford to buy a home. If you think a little creatively, however, you may be surprised by what you can actually afford. Here are five things you can do to make your dream of owning a home an affordable reality.
1. Broaden Your Location: A common problem first-time home buyers face is becoming fixated on a certain town or neighborhood. This is often a major factor in what is making home ownership unattainable. If you are flexible and consider different areas, you may be surprised by what you can find. The further you move away from a city center, the more affordable homes become. Housing affordability is one of the many reasons why people choose to purchase a home in the San Joaquin Valley.
2. Don’t Get Caught Up in Upgrades: Many first-time home-buyers are actually surprised to learn new construction homes are an affordable option that can provide them with the modern comforts they are looking for. When you begin looking at new construction homes, it is easy to fall in love with the upgrades showcased in the model home. These upgrades can quickly add up and cause an affordable house to go over budget. So when considering new construction homes, be realistic about what upgrades you can afford and consider which ones are the most important to you. Any other upgrades may have to wait until a later date.
3. Ignore the Square Footage: You may also be encountering problems if you are looking at homes that are too big for your budget. While you would ideally like a home with some extra space, for your first home you may want to consider going smaller. Looking at homes within a certain price point, rather than ones that are a certain size, may help you find properties you were missing before. Remember, if you use the space properly, you can make a small home feel luxurious and spacious.
4. How Many Bedrooms Do You Really Need? It is important to not only be realistic about the square footage of the homes you are looking at, but you also you’ll want to consider how many bedrooms you actually need when you are creating your must-have list during your house hunt. While it can be nice to have an extra bedroom to use as a guest room or as a playroom for the children, you will likely be surprised by how much that extra room could be raising the prices of the homes you are looking at. If you can realistically do with fewer bedrooms – and a smaller house overall – you may be surprised by the affordable homes you will be able to find.
5. Stay Open Minded: Staying open minded is a crucial part of buying any home, but it is particularly important to stay open minded if you are trying to stay at a lower price point. Staying flexible with your wish list and target location will help you find something you can afford. Additionally, if a home comes on the market within your budget, go see it. Even if the listing does not make it look attractive or it is in an area you hadn’t previously considered living, you may be surprised by what you find when you get there.
While it may seem as though owning a home is out of reach for you, if you stay open minded in your house hunt, you may be surprised by what you can actually afford. SJV Homes now has open for sale 10 communities in the San Joaquin Valley with a combined 845 single-family homes. If you would like more information, sign up for our interest list here and make your dream of buying a home a reality.