Financing for Newport Beach Properties

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Living on the beach is practically every homeowner's dream. That's why Newport Beach properties have always been among the most valued in California: not only do you get to live right on the waterfront, you also get all the perks of living in a bog, thriving city. A beachfront property in Newport Beach gives you the best of both worlds, and that's just where it all starts.
Of course, beachfront or not, there are some things worth remembering when buying Newport Beach Homes for Sale []. Here are some tips to help ensure a successful purchase.
Choosing a neighborhood
Newport Beach is about as varied as the rest of California: you have everything from practical studios to sprawling waterfront estates. Get to know the pros and cons of each area based on your requirements: do you need good schools, private amenities, or lots of green space? List down your basic needs and ask around for neighborhoods that fit.
Checking for features
What kind of home are you looking for? This is a pretty broad question, and it can take a while to figure out. The Newport Beach MLS contains small condos, five-bedroom mansions, and everything in between. Not all features are worth what they add to the price, though. Decide early on which ones you need and which ones you can do without.
Paying for the view
Most Newport Beach homes for sale put a premium on beach views, which explains the higher-than-average prices. But not all buyers really need a good view; at most, it's often just a nice perk. Ask yourself how valuable a view would really be in the long term. If it's not that big a factor, you may be better off with an inland home with more useful features.
Applying for financing
Financing for Newport Beach properties can be complicated because they seldom fit the maximum price for conventional loans. Most of the time, you'll have to get a jumbo loan, which usually isn't covered by regular lending standards. Shop around for lenders willing to accommodate your investment, and make sure to read and understand all the terms.
Working with agents
Working with a qualified agent can make all the difference between a good purchase and a bad one. There are dozens of real estate agents out there, but few would really go beyond searching the Newport Beach MLS. Look for an agent who has experience on the area and type of home you're considering, and don't hesitate to ask for client references.

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