Homes for sale in Santa Monica CA are notoriously expensive, as homes in LA generally are. With the right mindset and a fair bit of sweat equity, however, you can breeze through the steps involved in the home buying process to find the right fit for your budget and lifestyle. What should you do to get the very best deal for your needs? Here are the steps:

Step 1: Determine how much you can afford

Searching for a home can be a lot of fun, but before you embark on your journey, first sit down and review your finances. Knowing how much you can afford to spend is one of the most important steps in the home buying process and will save you a lot of time and effort. Looking at homes that are beyond your budget will set you up for heartbreak, while determining a realistic budget will allow you to focus on options you can afford.

Consider these factors:

• Your current income, and whether it’s something you can count on for the long term
• Your credit score
• Your regular monthly expenses
• The down payment required
• Interest rates

Step 2: Do your research

Shop around for a suitable lender. Research and compare different loan products available to you and choose one that is best suited to your needs.

Ask about fees, down payments, mortgage insurance and the like, so you are better equipped to negotiate with your chosen lender. Also, be sure to get pre-approval, as doing so signals to sellers that you’re a serious buyer.

Step 3: Find the right real estate agent

To ensure the whole home-buying process runs smoothly, hire a good real estate agent to guide you and negotiate on your behalf. Find someone who has your best interests at heart to assist you in finding the perfect home and neighborhood that fits in with your aspirations.

Step 4: Make a checklist

What features do you want in your new home? What kind of neighborhood do you want to live in? Knowing exactly what you want will allow you to stay within your budget or make any necessary adjustments. What are your must-haves and what are you willing to compromise on? Is an ensuite in the master bedroom really a deal breaker? Bearing in mind your short- and long-term goals and as well as knowing what you don’t want is important.

Step 5: Explore homes for sale in Santa Monica CA

Once you’ve narrowed down your specifications and determined that you have your heart set on homes for sale in Santa Monica CA, it’s time for the fun part: seeing homes!

Once you do find what you’ve been looking for, be sure to check back with your agent whether the asking price is fair. Your agent will come up with a market analysis on the neighborhood you’ve chosen so you can make an offer good enough for the seller to seriously consider. Having a good real estate agent to negotiate the deal for you can be critical at this time.

Step 6: Review the contract and have the home inspected

Carefully review the contract of sale with a lawyer to ensure its terms are acceptable and that everything is covered. Hire a professional home inspector to identify problems that may make it necessary for you to renegotiate with the seller or cancel the purchase if there are any unacceptable issues.

Step 7: Close the deal

Before you get the keys to your new home, you will need to sign the closing papers, settle your down payment, and pay closing fees.

Let Melissa Menard Homes, the top realtors in Santa Monica, be your ultimate guide to this gorgeous location. Call 310.729.9726 or email melissa@melissamenardhomes.com or Hello@melissamenardhomes.com for more information.