How to get the home you want and save money on the purchase

We all want to save money when we purchase. Since a home purchase is generally our largest purchase, we feel the need to really save money on that purchase as well. Entering the Long Beach real estate market here you can save money as a buyer if you prepare properly.


Here are some time tested ways to save money on your purchase and be happy on move-in day.

• Monitor the Neighborhoods you like - Trying to get the worst home in the best neighborhood is possible, but you need to understand what that "great price" really is by monitoring the neighborhood. You probably won't find a home in Belmont Heights for $200,000, but if you do find one for $499,000 know that it's a deal you don't want to miss.



• Meet with a Lender - I know it's sounds obvious, but many buyers just want to quickly speak with their lender over the phone and be done with it. Meeting with a lender (particularly a direct lender) can save you money by learning about down payment assistance programs, lower interest rates and more. Bank of America waives many of it's fees for their customers so try your bank.



• Be Prepared - Your Long Beach real estate agent should help prepare you for making an offer that is a winner. This doesn't mean you are the one offering the most, it often means you are the one who has all of the documentation. Besides the offer that your agent will prepare you should have a deposit check, proof of funds (bank statement) of our down payment, FICO scores, and a pre-approval. We also write a personal letter for our clients so our offers can stand out a bit more. Having all of this ready will help you to jump to the top of the heap.


• Be Aggressive and Reasonable - There is an art form to negotiations. Contrary to many beliefs the banks aren't "hurting" so bad that they will take 20 cents on the dollar (at least not here in sunny So Cal) so when you ask for a discount take into consideration how well the property is priced. If it is already priced at the bottom of the neighborhood, then you have less room to negotiate.

Start Researching Now

Start looking through the Long Beach MLS to see homes and condos that would match up to your lifestyle. Understanding what is available is a first big step. You can buy a home, have fun, and save money, it just takes a little preparation. But, most of all, have fun!