I Want to Buy a Home
We are a Mandarin- and English-speaking real estate team in San Diego. Whether this is your first home or you’re moving to a new one, we’ll walk you through the process clearly before you start touring houses.
Ten steps to buying a home, from pre-approval to the keys.
1
Get a loan officer and a pre-approval letter
There are three letters to keep straight: pre-qualification, pre-approval, and full underwriting approval. A pre-approval letter is your ticket to making an offer. Without it, sellers usually won’t take you seriously.
2
Set a budget, and add up the full cost of owning
The purchase price is only the start. In San Diego, property tax is about 1.25% of the purchase price, and in a newer community you may also have Mello-Roos, HOA dues, and insurance. Add all of that together — that’s what you’ll really pay each month.
3
Choose a neighborhood, and check the schools
Look up the school for a specific address on the school district’s website. Don’t rely on the ZIP code alone. ZIP codes are drawn by the postal service; school boundaries are drawn by the government. The two maps are not the same.
4
Tour homes, and make a daily-life list
Drive the actual distance to work, the kids’ school, the grocery store, after-school programs, and the park. Walking and driving it is more accurate than looking at a map.
5
Make an offer
Earnest money is typically 3% of the purchase price, wired into escrow within three days. Price, terms, and the closing date are all negotiated together — not just the price.
6
Get inspections
Always do them. The basic three are a general home inspection, a termite inspection, and a sewer inspection. Depending on the house, you may also want the roof, mold, and foundation checked. A few hundred dollars buys peace of mind, and if something serious turns up, you can still negotiate a repair or a credit.
7
Appraisal and the loan
Closing costs for a financed purchase in Southern California are about 1 to 2% of the purchase price; for a cash purchase, about 0.5 to 1%. A credit score of 780 or higher usually qualifies you for the best rates.
8
Closing
On closing day, the lender funds the loan by 1:00 p.m. Pacific Time, and the deed transferring title is recorded the same day.
9
Get the keys
On possession day, confirm the house is in the same condition it was at inspection, get the keys, and the home is yours.
10
Settle in
Transfer the utilities, enroll in the new school, meet the neighbors, and find after-school programs. If anything comes up after closing, you can always come to us.
Thinking about buying or selling in San Diego? Let's talk first — no pressure.
Whether you’re still looking around, just starting to research school districts, or you’ve already found a house you like, you’re welcome to start with a conversation. Consultations are free.