Working with many home buyers in San Jose over the past few months in a buyer-driven real estate market has taught me a few things which I would like to share with everyone currently looking at houses for sale in the San Jose area.
First, think out loud and intuitively about the types of home where you would feel most comfortable. This process will help you better define the major features you are looking for in a house (e.g. #stories, size of garden, pool, etc) which is the second step. At this stage, do not forget to prioritize the "must have" from "nice to have" features, which will help your Realtor narrow the search.
The third step is to pick the San Jose location, which should be very logical based on your commute, schools and house prices. Before planning any further, and like most of us do, engage with your personal banker and potential lender(s) to confirm your eligibility for a loan unless you plan to make a cash offer. The outcome of this step is to get pre-approved by a lender, which will greatly improve your bargaining power during the review of your offer by Realtors and sellers.
The penultimate task is to share with your Realtor your time lines and potential constraints with regards to your current home such as end of lease if you rent or time to sell if you are already a home owner.
Last but not least, be flexible and realistic. Remember there is no such thing as the dream home. At the end of the day, if the sum of benefits largely exceeds imperfections for any property you are interested in, you are probably close to realizing your dream of becoming a home owner.
© Sophia Delacotte CDPE, SFR, CHS
San Jose Realtor
Cell: (408) 717-2575