Is buying a home on that to-do list? Now is a perfect time to examine a home purchase along the southern Oregon coast near Coos Bay and Bandon. It is still a buyer’s market even though property values continue to rise. Interest rates remain low, and consumer confidence is up thanks to a strong labor market with robust hiring in all industries. What are you waiting for? Discover these tips for buying a home near Bandon this year, on the scenic Southern Oregon Coast. It’s like a vacation near the beach all year round.

Qualifying for a Mortgage

The first step in buying a home involves qualifying for a mortgage. A bank looks into your finances to see if you have enough income and creditworthiness for such a huge commitment.

Know Your Credit Score

Obtain your credit score and a copy of your credit report. Then, strengthen your credit score by paying down some debt and making all of your debt payments on time. A financial counselor can help you make the right moves to raise your credit score. A higher credit score can lower your interest rate by as much as ½ of a percent, and that may save you thousands of dollars over the term of your mortgage.

Shop Around

Just like finding the right refrigerator for your kitchen, shop around to determine the best mortgage for your needs. Even though key interest rates may remain the same nationwide, they vary among banks. Some lenders require a 20 percent down payment, while others do not need a down payment at all. Get the most for your money by looking at different banks.

Become a First-Time Buyer

Banks and the government offer incentives to people who are first-time homebuyers. Some programs may let you purchase a home without a down payment or just a small down payment. Other first-time homebuyer programs pay for closing costs. Ask your lender about these programs as they could save you hundreds of dollars as you apply for a loan.


Once you find a bank, qualify for a mortgage. This lets you know the maximum amount of a home purchase you can afford. Now that you have a solid figure as your top price, it’s time for the fun part of buying a new home!

Searching for a Home

You have several factors to keep in mind when searching for a home. Continue your dream by looking for something that fits your lifestyle.

The Right Location

The saying, “location, location, location” comes from buying and selling real estate. That’s because the location of a home may raise or lower prices. Do you want a place near the beach? Do you prefer to be closer to the action in a downtown area? How about a suburban location on a quiet street? Would you rather have a few acres of land? All of these are possibilities.


Size matters when it comes to homes and real estate. An extra room in the house may add several thousands of dollars to a home’s value. Take a look at the price per square foot to get a more accurate picture of a home’s price. When you see two homes with the same size at different prices, you know there are other market forces at play here. Any large parcels of land attached to the home also raise the price.


The age of home may change its asking price. Newer homes are typically more expensive when compared to older homes of the same size due to better construction materials and the costs associated with building and developing the property. Newer homes might also have more modern amenities compared to older properties.


Once you settle on a house after thoroughly vetting your options for a few months, make an offer on the house. You don’t have to pay the asking price. Once you make an offer, the house is under contract wherein both parties negotiate the final price back and forth.

The best thing to do when finding and buying your ideal home is to seek assistance from start to finish. That’s where an experienced realtor comes into play. At Beach Loop Realty, we understand the market around Coos Bay and Bandon. We know what it takes to get into your dream home based on your loan qualifications, your current financial standing and how much you can afford. We also know a home’s real worth when it comes to all of the factors that go into buying a home. Although there’s a ton of information on the internet about purchasing a home, there’s no substitute for getting some dedicated expert help. Check us out at Beach Loop Realty and start making your dream a reality.

Thank you for reading our blog! How can we help you? Contact us today.

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