First Time Home Buyer in Rocklin: 6 Things to Know

First Time Home Buyer in Rocklin: 6 Things to Know

Rocklin is located northeast of Sacramento and parallel to Highway 80. This picturesque and luxurious city features upscale shopping and dining options and plenty of outdoor recreational opportunities. With its proximity to Lake Tahoe and the Bay Area, Rocklin offers locals an array of attractions. A delightful range of stunning natural beauty, beaches, first-rate amenities, excellent schools, and top-quality luxury homes make this exciting enclave a popular place to live for residents, professionals, students, and families.

If you are a first-time buyer in Rocklin, follow our guide for the best tips and tricks to navigate the market, secure financing, and find a great real estate agent.

1. Set yourself apart

The real estate market in Rocklin can be competitive, and you want to ensure you stand out among the crowd to secure the home of your dreams. There are a couple of key ways you can set yourself apart from other potential buyers.

Before starting your home search, it is beneficial to get pre-approved for a mortgage. This will tell you how much home you can afford. Not only will this give you a better idea of what your budget is, but it will also prove to sellers that you are a serious, motivated buyer.

If you can be flexible with your timeline, you should consider doing so. Do you need to move into your new home immediately, or are you willing to allow the sellers additional time to find a new home, if they haven’t already? The more you can accommodate the sellers, the happier they will be — something that could be crucial if you want your offer to be accepted.

You should consider waiving contingencies. Many times, buyers will include contingencies, such as a home inspection and ensuring appliances convey, in the offer. However, if you want to stand out in a crowded market, you may want to consider waiving these contingencies.

2. Find a good real estate agent

Having a trustworthy and experienced agent on your side will not only make the buying process easier but will also ensure your home-buying journey is less stressful. Navigating the Rocklin real estate market can be tricky, and it is critical to have someone who is familiar with the area. Do research on potential agents and review each agent’s online presence. Once you find the right fit, list your non-negotiables in a home and convey this information to your agent. If you are clear about what you want in your new home, it will be easier for an agent to help you find it. Real estate agents have a variety of tools at hand, including professional industry connections and the Multiple Listing Service, or MLS.

3. Don’t put down 20% unless it makes sense

Some buyers automatically assume they have to put down 20% of the home’s purchase price, but that’s not necessarily true. Several loans geared toward first-time home buyers offer less-stringent requirements so they enjoy the benefits of homeownership at an earlier age. These loans also provide buyers with a financial cushion in case any other unexpected expenses come up. Typically, most first-time buyers can find a loan that only requires a down payment of 3.5% with a good credit score. The road to buying your first home doesn’t have to be as financially challenging as it seems.

4. Be prepared to pay property taxes

You must pay annual property taxes based on the value of your home. The average property tax rate in Rocklin is 1.08%. However, it can vary depending on the value of your home. Typically, your property taxes will be added to your monthly mortgage payments. It is important to be prepared for this added expense when budgeting for a house. You must determine if this is something you can afford before you make an offer.

5. Research available loans and homebuyer assistance programs

The California Housing Financial Agency offers a MyHome Assistance Program for eligible buyers. Some of these requirements include being a first-time home buyer and meeting certain income requirements. It is certainly possible to receive assistance once you apply for the program. Otherwise, do some research to determine where you can qualify for a loan. Whether it be a conventional loan, a government-insured loan, or a fixed-rate mortgage, there is a loan to meet your personal needs and situation. Oftentimes, first-time home buyers don’t even realize how much assistance is available to them.

6. Complete a homebuyer education course (You might need one to be eligible for assistance)

You should be well-informed and educated in order to make the best possible choice when making a huge life decision. Consider taking a first-time homebuyer education course, as they will help you learn the ins and outs of buying. You can attend simple and easy online courses while learning more about real estate from the comfort of your own home. Most first-time homeowners will agree that an education course helped them immensely in buying real estate.

Discover more tips for becoming a Rocklin homeowner

As a first-time home buyer in Rocklin, you want to land the home of your dreams with as hiccups as possible. However, remember to relax and enjoy the process, as this is also an exciting time in your life. With a trustworthy agent, enough research, and a positive attitude, you will be sure to find the perfect home for you and your family. Soon enough, you will be connecting with neighbors inside your Rocklin neighborhood.

Begin your home search today

After you’ve decided to purchase a home, you should speak with a trustworthy real estate agent like Dayna Summers. As a first-time home buyer in Rocklin, you may feel overwhelmed or nervous, and that’s normal. But with Dayna by your side, you’ll soon feel confident and excited about your new life decision. Her expertise, expansive knowledge of the local market, and top communication skills will help ensure your home-buying experience is as stress-free as possible.

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Boutique Real Estate wants to help you build a legacy. They will guide you toward success with razor-sharp business acumen, industry knowledge, and a professional package that’s tailored to your needs.

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