As home buying picks up pace with spring in full bloom, here are a few tips every Santa Cruz home buyer should keep in mind:
1. Plan to stay in the property more than 5 years. Typically, home values appreciate 7% per year; that number has been 2% to 5% recently, so it will take longer to break even and begin making a profit or building equity in your home.
2. Do the math. First, figure out what price range you can afford. Then, calculate how much income is left after paying the mortgage, taxes and insurance. Use an online affordability calculator to make this easier.
3. Explore the neighborhood. At various times of the day and night, visit the neighborhood of a Santa Cruz home you are interested in. Find out if it’s an area in which you’ll