Buy A Home in San Francisco and the city you choose to live in, promises to be one of the premier cities throughout the world.
Real Estate prices in San Francisco respond vigorously to minor changes in demand because the supply is often limited while the city explores new growth with development and re-development projects.
When you are ready to buy your home in San Francisco, taking pre-determined steps will save you time and help you get the home of your dreams, right when it becomes available. The first step to take and consider is to determine the maximum price you are able to pay, and precisely, what you are able to afford.
With current changes in Real Estate markets across the country, homeowners have in recent years experienced some discomfort and pain. The housing crash has taught prospective buyers to evaluate affordability before diving into a mortgage. The average housing payment, which includes taxes and insurance, should not take up more than 28 percent of a monthly take home pay. All debt, including mortgage, should not consume more than 36 percent of gross earnings. In San Francisco that figure is substantially higher.
While most mortgage lenders use these figures as a rule of thumb, buyers want to make sure they are not about to bite off more than they can chew prior to applying. The Department of Housing and Urban Development, or HUD, urges prospective buyers to assess the other costs of the home buying and ownership experience. For example, prospective buyers need a down payment, which ranges from 3.5 percent on an FHA loan, to at least 10 percent on most conventional mortgages.
It is also important not to forget closing costs, which HUD estimates equal 3 to 4 percent of a home's final buying price. Once in a house, new home buyers will benefit from having money set aside for routine and emergency maintenance. Here are current homeowner demographics for the city of San Francisco.
There are more than a few excellent reasons to buy a home and live in San Francisco:
Cross the Golden Gate Bridge and you get sunshine and a 15 degree temperature boost. Want to snow or water ski, snowboard, surf, swim, hike, bike, sail, picnic, wine-sample, golf, cross-country run, etc etc? It's typically within a half-hour to three and a half hour drive.
Napa Valley and the Wine Country is an exciting adventure for many people who live in San Francisco and enjoy an easy getaway when the weekend comes. The drive is an hour to the lush grape vines and gorgeous countryside that provides elegance, decadance, and down to earth style in culrinary delights, with the pairing of fine California wines.Read about Napa Valley
Sausalito is a San Francisco Bay Area city, in Marin County that is eight miles south-southeast of San Rafael. The community is situated near the northern end of the Golden Gate Bridge, and prior to the building of that bridge served as a terminus for rail, car and ferry traffic. Sausalito developed rapidly as a shipbuilding center in World War II, and the city's industrial character gave way in postwar years to a reputation as a wealthy and artistic enclave, a picturesque residential community (incorporating large numbers of houseboats), and a tourist destination. It is adjacent to, and largely bounded by, the protected spaces of the Golden Gate National Recreation Area. Read about Sausalito
Golden Gate Park is the third most visited park in the United States. While the park is free to visit during the day, popular attractions charge admission, such as deYoung Museum, California Academy of Sciences and Conservatory of Flowers. The park is filled with gardens, museums, art, flowers, trees, lakes, birds and wildlife. There are also plenty of opportunities to participate in sports, clubs and other activities. Read more about Golden Gate Park