Compass SF

3 Common California Luxury Homebuying Challenges, and How to Avoid Them

by Haruko Hata DRE #01824502 11/24/2019

For those who are interested in purchasing a luxury house in Los Angeles, San Francisco or elsewhere in California, it helps to understand the ins and outs of the local luxury real estate market. If you allocate time and resources to analyze the California luxury housing market, you may be able to seamlessly overcome various property buying challenges.

Ultimately, many challenges may make it tough for you to acquire your ideal California luxury residence, and these challenges include:

1. Limited Number of Top-Notch Homes Available

The California luxury housing market is fierce. Regardless of whether you're searching for a luxury house in Beverly Hills, Malibu or any other Golden State city or town, there may be a limited number of top-notch properties available. Meanwhile, if you fail to act quickly, you may be unable to purchase your ideal California luxury home.

When it comes to searching for a California luxury home, it helps to have homebuying criteria in hand. In fact, homebuying criteria will enable you to refine and speed up your home search.

Think about where you want to live in California and hone your house search accordingly. For instance, if you want to enjoy spectacular views of the Golden Gate Bridge, you may want to focus exclusively on Bay Area luxury houses. Or, if you are interested in living near family in San Diego, you may want to search for luxury residences in and around San Diego.

2. Failure to Get Pre-Approved for a Jumbo Mortgage

Typically, a jumbo mortgage is a must-have for California luxury homebuyers. Yet many homebuyers fail to get pre-approved for a jumbo mortgage – something that may slow down the homebuying journey.

It usually does not take long for a homebuyer to get pre-approved for a jumbo mortgage. Meet with a variety of lenders, and a homebuyer can learn about a broad array of jumbo mortgage options. Then, this buyer can select a jumbo mortgage that matches his or her expectations.

3. Failure to Submit a Competitive Offer to Purchase

Once you locate your ideal California luxury home, you probably will want to submit a competitive offer to purchase this residence. However, determining the right amount to offer for a Golden State luxury residence may prove to be difficult.

By employing a real estate agent, you can quickly and effortlessly put together a competitive offer to purchase your dream California luxury home. A real estate agent can provide you with a wealth of information about the local real estate market. Thus, if you want to purchase a luxury home in Sacramento, San Jose or another California city or town, a real estate agent will help you craft a competitive offer to purchase this residence.

If you plan to buy a luxury home in California, it helps to plan ahead as much as possible. For those who want to make their California luxury homeownership dreams come true, consider the aforementioned homebuying challenges, and you'll be better equipped than ever before to streamline the homebuying journey.

About the Author
Author

Haruko Hata DRE #01824502

It’s not just about a house…it’s more about your life and dream….

My passion is to help my clients make their dreams come true and to make them happy. I love to see smiles on their faces, which makes me happy, too. That’s why I always strive to look at the positive potential of my clients’ dreams.

As a Buyer’s Agent: I make every effort to truly understand all of your needs and wants to purchase the right property at the right price for you. I provide you as much data & information as I can gather and honest advice & insight based on my experience, so you can best decide upon the path that will be most beneficial to you.

As a Seller’s Agent: I treat each listing as my own and use all of my resources to ensure that your home gets the price it deserves and that the sale is handled efficiently and expeditiously for you. My commitment is to eliminate your stress in the process of selling your property and to make your transition smooth and delightful.

With my personality, creativity, and professional knowledge, I’m readily available to help you and to answer all your questions. Call me today and let’s start working on your dream together!