Downtown Palm SpringsWhether you're in the buyer's market or seller's market, Palm Springs offers an abundance of incredible choices when it comes to homes and condos for sale. Looking for a mid-century condominium or home? Palm Springs has it. Want to invest in a modern mansion or vacation villa? Head over here, and Geoffrey Moore will help you find the best one!
Buying a home in Palm Springs isn't much different from buying elsewhere in America. However, prospective home buyers can benefit from the following insider tips shared by Geoffrey Moore.

First Rule of Home Buying: Know Your Buying Power

Here, buying power refers to your creditworthiness and how much you can realistically afford to pay for a new home.

Knowing your budget is essential before prospective home buyers start searching for real estate property in Palm Springs unless paying straight-up cash is preferred.

Knowing the hidden costs of buying a home in Palm Springs is also very important. It would help if you kept an eye out for;

  • Down payment (typically between 10%-20% of offer price)
  • Additional transaction fees (transfer tax, PMI, title insurance, escrow fees)

First-time home buyers can also take financial advantage of various government-run programs.

Second Rule of Home Buying: Don't Time the Market

Finding the perfect time to buy a home in Palm Springs is difficult, even in a seemingly hot market. Why? Depending on your lifestyle and choice, it can take some time to know your exact preferences. It's impossible to look at the first home and say, "Oh, this is it!" You should always see many homes before deciding which home to buy.
Take a camera along while you're out home hunting. Take pictures of all your favorite properties and areas that you liked best.

Third Rule of Home Buying: Keep Your Credit Stable before Closing

How soon your mortgage loan for the new home will get approved depends on your creditworthiness.

The following will raise flags and likely ruin your chances of owning a home in Palm Springs.

  • Unnecessary spending and maxing out your credit limit.
  • Changing banks or making large money deposits to accounts before consulting with the loan officer.
  • Not keeping your employment stable, i.e., changing jobs, becoming self-employed or quitting.

Are you interested in learning more about the Palm Springs real estate market? Contact Geoffrey Moore online or by phone at (760) 641-5689 for more expert local information!

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