Thanks to the current stimulus plan, it's a great time to buy a Santa Cruz home. Buying a home is an exciting time, but it can be a little scary too. Here are some smart ways to protect yourself from potentially falling prices while you wait for the market to rebound.
• Know how much you can afford to spend ahead of time and then look for homes in areas that reflect those prices. Choose homes on the lower end of the average home values in that area so that even if the housing market slumps a little bit before it recovers your Santa Cruz home is unlikely to sink below its current value.
• Look for homes that aren't on busy streets or highways.
• Don't buy a home directly across from a school or park. While that can be great if you have young kids, it won't be attractive to anyone without youngsters and can hurt your resale value.
• Avoid buying a home next to apartments or retail stores.
• Put down a sizeable down payment and request that the seller pay closing costs or provide other real estate incentives such as new appliances to sweeten your deal. It's a buyer's market which means you hold most of the cards so make sure you get as much value as you can.
• Seek the help of a professional real estate agent who can guide you through the process and help you make wise decisions when looking for a Santa Cruz home and making an offer.
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