Tips for Determining Your Financial Strategy for Buying a Lake Nacimiento Home!

Buying a home on Lake Nacimiento is an exciting time and especially with the current market leaning in the favor of buyers.  Low mortgage rates and home prices are allowing many buyers to pursue their dreams of relocating to Lake Nacimiento permanently or finding their ideal vacation home.

Yet, as a Lake Nacimiento Real Estate agent, I always want to advise clients that buying a home does not simply come down to finding a perfectly priced home.  An entire financial strategy needs to be in place in order to succeed in the Lake Nacimiento Real Estate market.

If you’re hoping to buy a Lake Nacimientio home this summer, think through your financial strategy by asking yourself the following questions:

– How long do I plan to live in this house?
– Is this a vacation property I want to rent out?
– Where do I see myself in five or 10 years?
– Do I have to or want to make home improvements?
– Do I want to keep cash on hand for other investments?
– Can I take financial risks?
– Do I want to be debt-free?

Once you’ve determined the answers to these questions, you can plan out where you want to end up after the home purchase.  If you’re planning on buying an Oak Shores or Heritage Ranch home as an investment or vacation property; determining these answers are especially helpful.  Your financial philosophy will help you navigate through the process of getting a mortgage loan and other various options you’ll need to decide when buying your home on Lake Nacimiento.  Here are five tips to consider when searching for the right mortgage loan.

1. Shop for the best rates– Look at local banks as well as national lenders for find the best rates.  You may even want to consider working with a mortgage lender.

2. Decide on points– Decide if you’re willing to pay for point to get a lower interest rate, or if you want to take a higher rate in order to keep closing costs down.

3. Combine different loan features– This allows you to feel comfortable with the loan as well as giving you flexibility to achieve your financial goals.

4. Don’t forget about additional costs– When applying for a loan you’ll want to factor in additional costs such as property taxes, insurance and possible homeowner’s association fees.

5. Ask about other loan terms– Oftentimes banks won’t advertise loan terms such as 20 years, but asking about it can ensure you find the right fit for your loan.

I hope these tips are helpful as you think through buying a home on Lake Nacimiento!  My goal is to provide you with pertinent real estate information and guide you through each step of the home buying or selling process.  I’d love to talk with you about your real estate needs and put my years of expertise in the Lake Nacimiento Real Estate market to work for you!

I look forward to talking with you!

Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.

Please let us know how we can help!

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