Things to Know Before Buying In Palo Alto, CA

Things to Know Before Buying In Palo Alto, CA | Living in Palo Alto

Location is Key 

Before you search for a new home in Palo Alto, it’s important to consider what part of town you want to live in. Do you prefer being close to downtown and all the action? Or would you rather be on the outskirts of town, away from the hustle and bustle? Each area has its own unique benefits and drawbacks, so it’s important to do your research before making any decisions. Remember that location can have a significant impact on things like property taxes, school districts, and even commute times! 

Know Your Budget 

When looking for homes in Palo Alto, setting yourself a realistic budget ahead of time is essential. This will help ensure that you don’t get in over your head when making an offer on the house or signing off on the mortgage agreement. After all, no one wants to be stuck with an expensive home they can’t afford! Research local real estate prices and speak with your lender about what loan terms might work best for your situation before committing yourself financially. 

Be Prepared For The Process 

Buying a house is no small task – so make sure you go into it prepared! Make sure that all necessary documents are ready (like proof of income), that your credit score is up-to-date (as this will impact interest rates), and that you have access to cash reserves should any unexpected costs arise during closing or repairs. Also, keep in mind that closing costs can add up quickly, so make sure you factor these costs into your budget ahead of time. 

Watch our video to learn even more about what it takes to become a homeowner in Palo Alto, California! We break down what to expect from Palo Alto and tell you what to know BEFORE starting your home-buying process.

 

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