DECIDING TO BUY
7 Key Steps to Buying a Home in the Bay Area
Did you know that the net worth of a homeowner is over 44 times greater than that of a renter? (Source: https://www.keepingcurrentmatters.com/2017/10/12/net-worth-of-homeowners-44x-greater-than-renters/) Purchasing a home is a very big financial decision. Understanding why you want to buy is very important.
Why Do You Want To Buy?
Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking to move into a better school district? Are you tired of traffic and want to move closer to work? Would you rather live in a different area? Are you looking for an investment portfolio? Having a clear sense of your reasons for buying will help you choose the right property.
Has Your Income Grown?
Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment. The Bay Area has risen on average 12% year over year since 2010. Are you earning this amount a year with your current investments?