Home Buyer’s Guide

From Pacific Coast Realty in Santa Barbara

A home is one of the largest financial investments you'll make. This guide will help you navigate the process of buying a home, working with a Real Estate Broker, and understanding Negotiated Commission options.

1. Determine Your Budget

Your home affordability is based on your ability to handle a mortgage. Use our website's mortgage calculators to estimate what you can comfortably afford. Consult with a Buyer Agent like us to get pre-approved for a loan with a lender. This ensures a smoother process, giving you a clear idea of your budget. Remember, buying a home involves more than just a mortgage. 

Additional costs include:

• Earnest money: Typically 3% of the house price as a deposit when you submit an offer.
• Down payment: This amount should be discussed with your lender. 
• Closing costs: Usually 3-4% of the home price, covering paperwork processing and lender fees.

Also, plan for ongoing expenses, such as:

• Utilities
• HOA/Condo fees
• Property taxes
• Local taxes

2. Shopping for a Home

House hunting can be both exciting and challenging. To streamline the process, most buyers start by browsing homes online. Our MLS Listings Search tool provides accurate and up-to-date information on homes in the Santa Barbara area. We also offer an Open House link to view homes available on weekends.

While searching, consider the following key factors:

• Location
• Features
• Price

Adjust your criteria if necessary to improve your chances of finding the right home. For assistance with this process, contact us. We have real-time access to the latest listings.

Once you've narrowed your options, visit homes in person with a checklist of important features such as:

• Is there room to grow?
• Is the house structurally sound?
• Will it require additional work?
• Is it close to schools, stores, and your workplace?

Taking photos of each home can help you evaluate its pros and cons later.

3. Work with a Full-Service Buyer Agent

We have over 75 years of combined experience as Real Estate Brokers, specializing in Full Service for buyers. Our top priority is helping you find the right home while saving you money through negotiated commissions options. Commissions are negotiable, so contact us for more details.

As your Accredited Buyer Representative, we will guide you through the mortgage process and help you make informed decisions.

4. Exploring Mortgage Options

There are various mortgage types to consider:

• Fixed-rate mortgage: Interest rate and payments remain the same.
• Adjustable-rate mortgage: Initial lower interest rates and payments, but they can fluctuate over time.

Government-backed options, such as FHA loans, are also available. Loan terms typically range from 15 to 30 years. Consult us, and we can refer you to trusted mortgage brokers for a FREE Loan Qualification

Home Buyer Advantages/Discounts

We are members of the Coastal Housing Partnership, which provides homebuyer benefits and discounts. Visit CoastalHousing.org for more information.

ABR® Designation

Pacific Coast Realty is proud to announce that JoAnn Pomatto-Gomez, Broker/Owner, has earned the Accredited Buyer’s Representative (ABR®) designation, awarded by the Real Estate Buyer’s Agent Council (REBAC) of the National Association of REALTORS® (NAR).

This achievement underscores her expertise in representing homebuyers and providing an exceptional level of service.

With this designation, JoAnn offers:

• Expert guidance throughout the buying process
• Skilled negotiation for the best deals
• Market knowledge to ensure informed decisions