If you’re dreaming of buying a home in California, congratulations! It’s one of the most beautiful states in the U.S., and Avrus Financial and Mortgage is ready to help you finance the home of your California dreams.
There are a few things you need to know first.
California median home prices have risen by $120,000 in the last three years, so they’re not within reach of a lot of people, though there are always options. You may need, for example, to purchase a smaller home than the one you’d imagined—but, as they say is real estate circles, it is definitely about location, location, and location. The median sales price for homes in California (that refers to the middle-priced home in a ranked list) was $393,000 in January 2016, according to Zillow.com. What that means is that a household with a 20 percent down payment would have to make around $78,000/year to reasonably afford a home at that price.
Location plays a role, of course. The household income needed to afford a median-priced home ranges from $27,000 in the farming town of Tulare to $442,000 in the Silicon Valley town of Palo Alto.
So how do you figure out what you can afford, right now, in which community? As soon as you decide you want to move to California, you need to talk to us at Avrus Financial and Mortgage right away. We can give you up-to-date information on the California real estate market, answer any questions you might have, and show you what you can comfortably afford to buy. We’ll also help you prequalify and get preapproved for your mortgage loan. Once you’re preapproved you’ll know exactly how much you’ll need to borrow in order to purchase your home, and you can then consult a real estate agent. You won’t be waster either your time or theirs looking at houses that may be out of your range of options. In addition, if you’re preapproved, it can increase your chances of having your offer on the house accepted.
At Avrus Financial and Mortgage we help buyers at all ends of the financial spectrum find the home that they will love in California, and we can help you, too.
Why not ask us how… today?