Nestled in the heart of California’s Central Valley, Oakhurst is a laid-back resort town offering an unmatched quality of life thanks to its idyllic setting, incredible weather, tight-knit community atmosphere, and abundance of exceptional attractions. As the gateway city to Yosemite National Park and with its prime location right on the edge of the Sierra National Forest, Oakhurst attracts countless nature lovers and anyone seeking a relaxing place to call home amidst picture-perfect scenery.
If you’re looking for homes for sale in Oakhurst, CA, this page provides helpful tips on how you can navigate the home-buying process with ease, including what you can do to prepare and how to find an ideal home that matches your needs and preferences.
WHY IT PAYS TO LEARN MORE ABOUT THE HOME BUYING PROCESS IN OAKHURST, CA
Having a better understanding of the homebuying process before looking for homes for sale in Oakhurst, CA allows you to make better decisions along the way.
A home purchase is a significant financial investment, so being well-informed about the different steps helps you navigate the home buying process with ease and allows you to make the right choices in line with your requirements, preferences, and budget.
PREPARING FOR THE HOMEBUYING PROCESS
Make sure you’re ready
You need to make sure you’re financially and emotionally ready to buy a home. A home purchase is a huge commitment, so you’ll need to evaluate your current situation, your interests, relationships, and short and long-term goals before taking the next step.
For example, think about whether you might need to relocate due to work or other reasons in the near future. If you’re buying a home with a partner, make sure you’re both on the same page.
How will the purchase affect other big-picture plans?
Define your goals
Think about non-negotiable factors such as the number of bedrooms, square footage, features, and proximity to your workplace, schools, and amenities. Next, note down anything you’d like to have but aren’t necessarily deal breakers, like a patio or a swimming pool.
Take a close look at each item and figure out which items will enhance your lifestyle and add value to your home, and which ones are simply personal preferences. Keep your checklist handy for when you browse homes to see which properties closely match your ideal home.
Establish a budget
Through online mortgage calculators from sites like Zillow, NerdWallet, and Realtor.com, you can get an estimate of how much you can afford. Use that figure as a starting point, and then make adjustments based on your current financial situation and goals. For example, if you’ll be looking for a new job after relocating, then you’ll want a more conservative approach to your budget. But if you’re due for a promotion soon, then some options on the higher end of your affordability range might be attainable.
While your monthly payments will be an important factor to consider, there are other costs you’ll need to take into account, such as your down payment, closing costs, and move-in expenses. Setting aside money for repairs and unexpected issues that might arise after you’ve moved in is also a smart move. And if you expect homeowner’s insurance, utilities, and other monthly expenses to increase, you want to be financially prepared for that as well.
In case the home you’re considering requires a lot of work, consider the cost of repairs and improvements, and whether they need to be done immediately after moving in, or if they’re something you can gradually complete over time.
Start saving
You’ll need to save for a down payment before you start looking for homes for sale in Oakhurst, CA.
You can get better mortgage terms if you can save more towards your down payment. You can also avoid expenses like private mortgage insurance if you can afford a down payment of 20% of a home’s price.
Closing costs are another thing you’ll have to save for. The amount varies, but expect to pay about 2% to 5% of the home’s purchase price.
Ask your banker for help creating a savings plan. Discuss your goals and timeline and find out how you can best prepare your finances for purchasing a home. Establishing a good relationship with your banker will come in handy when you’re ready to apply for a mortgage loan.
Improve your credit score
To secure lower mortgage interest rates, the best move is to improve your credit score. Even a slight change in interest rates can result in substantial savings throughout the life of a 30-year mortgage, for example. Start paying off any outstanding credit card or consumer debt you may have.
If you’re debt-free but don’t have enough credit history, start establishing a solid credit record. However, avoid opening a new line of credit or applying for a credit card if you want to buy a home immediately. Mortgage lenders value a well-established track record, so a new credit line can be viewed as a red flag.
Get prequalified for a mortgage
After preparing your finances, you’ll need to work with a lender to get prequalified for a mortgage. While getting prequalified isn’t a guarantee that you’ll be approved for a loan, it drastically helps your case as a home buyer. It shows sellers and agents that a lender has verified your credit and other information and has determined that you can qualify for a loan.
Find out from your lender if you can qualify for any special mortgage programs during prequalification. The California Housing Finance Agency offers a variety of assistance programs and initiatives designed to help individuals and families achieve homeownership.
Be aware of the responsibilities of homeownership
Expect your living costs to increase, especially if you’ll be shifting from renting to owning a home. You are now solely responsible for fixing or hiring a professional whenever something breaks down in your home. In addition to making sure basic systems (electrical, plumbing, and HVAC) are all in good working condition, you might need to purchase new appliances for the home as well.
Insuring your home also costs more compared to the standard renter’s insurance since the insurance will cover the entire structure and not only the contents within the property. It also covers liability in case any visitors get injured while on your property.
As a homeowner, you’ll need to pay property taxes as well, which is a significant expense that adds to the overall cost of owning a home. Remember to budget for property taxes, and keep in mind that they can vary depending on your home’s value and location. Research local tax rates and get information on possible exemptions to plan and manage costs effectively.
STARTING YOUR HOME SEARCH
Take time to research to help you zero in on the ideal home for your needs, preferences, and budget.
Browse listings online and keep an eye out for open houses in Oakhurst to get an idea of the type of homes available, the neighborhoods that appeal to you most, and the average cost of properties in those areas.
This is where the budget you’ve set will be extremely helpful. You can use it to fine-tune your search, so you won’t have to waste time on homes that are out of your range.
Overview of Oakhurst, CA’s real estate market
Those interested in homes for sale in Oakhurst, CA will be able to choose from a diverse selection of real estate options.
Properties in Oakhurst consist mostly of single-family homes, but some condos are also available. There are plenty of vacant lots and land available as well for those planning to build a custom home. Many residences in Oakhurst offer an unsurpassed combination of comfort, privacy, and livability, providing an outstanding quality of life in one of the most desirable communities in Central Valley.
For buyers seeking high-end properties, Oakhurst features many impressive homes offering the ultimate in luxury. The finest homes for sale in Oakhurst, CA come in a wide array of elegant architectural styles such as New England, Craftsman, and Ranch, along with a variety of contemporary styles. Those looking forward to a luxurious lifestyle will be able to find many homes equipped with exquisite features such as spacious, natural light-filled living spaces, beautiful gourmet kitchens and dining rooms, spa-like bathrooms with first-rate fixtures, and oversized primary bedrooms with large walk-in closets.
Many residences take full advantage of Oakhurst’s picturesque setting with features like covered porches and patios, sweeping wooden sundecks, and lots of windows framing spectacular scenery from nearly every room, creating an unparalleled mountain living experience.
Browse the best selection of homes for sale in Oakhurst, CA today! Head to this page or take a look at some of our Exclusive Listings.
Finding the right location
Choosing the right location is an important decision that will impact your overall living experience. There are many key factors to consider including lot size, the neighborhood, nearby schools, and the views.
Evaluate the area surrounding the home, and drive around to see what’s nearby. Drive to and from your workplace during rush hour, and try to visit the neighborhood during different times of the day to see what it’s like.
Keep in mind that you can fix, upgrade, and remodel many things in the home, but you can’t change its location. It’s important that you think carefully about what you want to have in a location and how it can enhance your lifestyle, so you won’t regret your decision after buying a home.
Viewing homes
Make sure your real estate agent is present when you view homes, so they can get a better understanding of what you liked and disliked about a particular home. They’ll also be able to address any questions and concerns you may have and offer advice on whether a home is a good match based on your wants and preferences.
If you have a partner or spouse, it’s important for them to be there when looking at homes. In case they’re unable to attend, narrow down your list to at least two to three strong options, so you can schedule another visit with them to save more time.
Questions to ask your real estate agent:
- How long has the home been on the market?
Motivated sellers are often behind homes that have remained on the market for quite some time. There could be underlying major issues that might be preventing potential buyers from placing an offer. Alternatively, if you find a home you like that hasn’t been on the market for very long, you might need to move fast and make an offer.
- How much do similar homes in the area cost?
Find out if the home is reasonably priced compared to other similar homes in the area. If it’s priced higher than the others, you will need to negotiate if you want to place an offer. A lower price could be an indication of a major problem, so seek advice from your agent.
- Is the neighborhood governed by a homeowner’s association?
You’ll want information regarding rules and regulations you’ll need to follow, and if there are any fees you have to pay.
MAKING AN OFFER
Making an offer on a home is a nuanced process that requires careful consideration and a well-informed strategy. Understanding the key steps paves the way to finding the home of your dreams.
Here, we’ll touch on the most important steps in creating a compelling offer, from determining a price to submitting an enticing offer. With the help of an experienced real estate agent and a strategic approach, you’ll be on your way to getting the home you’ve always dreamed of.
Work closely with your real estate agent
You can count on your real estate to provide valuable assistance as you go through the steps. They’ll give you extensive information on the market, assist with the required paperwork, and represent your best interests during negotiation.
Set an offer price
Determine a competitive yet fair offer price based on your budget, research, the local market, your agent’s advice, and the condition of the property.
Decide on contingencies
Contingencies are generally “exit” clauses in a contract that allow home buyers to walk away from the transaction while keeping their earnest money. Among the most common contingencies include appraisal, financing, home inspection, and title. If you’re paying cash, you won’t need to include appraisal or financing contingency, which is required by lenders to ensure the home is worth the mortgage amount.
Determine How Much Earnest Money to Offer
You’ll need to offer earnest money, even if you’re not buying the home with cash. While the amount varies from market to market, it is generally equivalent to 1% to 2% of the home’s total price. The more earnest money you can offer, the more compelling your offer will be to the seller.
If your offer is accepted, your earnest money will be placed in an escrow account and will be applied to your mortgage down payment later on.
Write an Offer Letter
Your real estate agent can draft an offer for you and submit it to the seller or their agent. The offer letter typically includes your name and anyone else who will be included in the house title, your offer amount, contingencies and concessions the seller has to meet, items you want to include in the sale, and the amount of your earnest money deposit.
FIND YOUR DREAM HOME IN OAKHURST TODAY!
Ready to find the best homes for sale in Oakhurst, CA
? Work with us at Realty Concepts to realize your real estate goals in this sought-after community!
Get in touch with us today at 559.694.1063 or send us an email. You can also ask questions or leave us a message here. We’d love to hear from you!
