Guide to Buying a House in San Ramon, CA

San Ramon, CA, is a suburban community in Contra Costa County that’s best known for its mild Mediterranean weather, scenic setting, and great location. Boasting picturesque views of Mount Diablo and easy access to San Francisco, Sacramento, and San Jose, this beautiful and affluent city is one of the most desirable places to live in California, attracting families, retirees, singles, and everyone in between.

If you’re looking to buy a house in San Ramon, CA, this guide covers everything you need to know to get started. Learn more about the San Ramon, CA, real estate market and get some tips on how to seamlessly navigate the process.

SAN RAMON, CA AT A GLANCE

San Ramon is ranked the 7th safest in California by Safewise.com. It boasts top-rated schools, a variety of outdoor activities, and gorgeous scenery. The city comprises several excellent neighborhoods like Gale Ranch and Windermere, and feature culturally diverse populations, world-class shopping and dining, and a lively nightlife.

With a population of 86,000 as of July 2022, San Ramon spans 18 square miles and offers a myriad of outdoor attractions, including at least 58 parks. Mount Diablo State Park is just minutes from the city, giving residents easy access to the area’s numerous outdoor activities and vast open spaces.

San Ramon has a thriving economy with a number of large firms calling it home. It’s the location of Chevron Corporation’s headquarters and houses offices for Pacific Bell, GE Digital, Bank of the West, and more. According to the San Ramon Comprehensive Annual Financial Report for 2020-2021, Chevron employs about 4,000 people, representing nearly 11% of the city’s total employment.

Real Estate Market Overview

You’ll find a variety of housing options in San Ramon, from luxury condominiums to single-family homes of all sizes. Being one of the younger cities in California, many of the houses in the area were built in the 1980s or later. This means these homes are most likely compliant to the latest safety codes and boast the latest home trends and technology.

The San Ramon, CA, real estate market is highly competitive. As of August, 2023, the median home price was around $1,600,000, with homes staying on the market for an average of only around 27 days. It’s considered a seller’s market with properties sold at around 3.34% more than their listing price.

Your property options in San Ramon include single family homes that range from expansive multi-bedroom property with lot areas of around 0.4 acres to more modest 2 to 3 bedroom properties that make great options for first time buyers. Townhomes and condos also make up a significant portion of the housing stock.

HOW TO BUY A HOME IN SAN RAMON, CA

In a perfect world, buying a home would be as simple as looking through listings, choosing a potential property, touring the house, sealing the deal with a handshake, and getting your dream home. However, purchasing a property, much more a luxury home, requires plenty of research and planning. This includes everything from evaluating your finances to knowing the neighborhoods and the type of property that best fits your needs.

Preparation is critical to beating the competition and getting top value for your money. The prepped and ready buyers have the best chance of landing the home they want, regardless of whether it’s a hot market or not. This guide outlines the steps and key factors to consider in buying a home, such as your resources, amenities, and Realtors in San Ramon, CA to work with.

Step 1: Evaluate your financial situation

Before you begin house hunting, ensure you have your financial house in order. As you plan to buy a house in San Ramon, CA, here are some things you must prepare for.

Your monthly amortization

Assess your income and savings, which will provide your starting point in determining your budget. In general, follow the 28% rule, which means that you will be spending no more than 28% of your gross monthly income on housing.

The down payment

A down payment of at least 20% is ideal so you can avoid paying private mortgage insurance. PMI typically adds anywhere from $30 to $70 on your monthly amortization for every $100,000 loaned. In addition, a large down payment gives you considerable equity on the home right off the bat, which can prove financially advantageous in the long run.

Your credit score

Lenders look at your credit score to determine how reliable you are as a borrower. A higher credit score is seen as a good indicator of creditworthiness. Good credit scores allow you to qualify for lower interest rates, giving you significant savings over the loan’s term.

Here are some tips on how to improve your credit score:

1. Pay off existing debts to keep your credit utilization low
2. Pay monthly bills (utilities, credit cards, and rent) on time because this is the most influential factor in credit scoring
3. If you don’t have a credit card, get one and be mindful of payments to establish a positive history of credit

Pro Tip! This is an excellent time to sit down with a financial planner so you can organize and understand your current financial standing.

Step 2: Get pre-approved for a mortgage

Once you know you’re ready to buy a home, shop for the lender with the best rates and get mortgage pre-approval. Pre-approval signals sellers that you’re a serious buyer and have the financial capacity to buy a home. It also indicates how much you can borrow, which is a great way to know which homes and price points are realistic for you.

To file for mortgage pre-approval, collect your documents, including proof of income, verified employment history, proof of assets, credit history, and identification. Crucial paperwork includes your tax returns, W-2 statements, and social security numbers, as well as pay stubs, bank statements, and valid government-issued ID. Provide these documents to your chosen lender, and wait between three and seven business days for the process to be completed.

Mortgage pre-approval makes it easier to house hunt as most sellers will only entertainment inquiries from buyers with pre-approval. It also strengthens your offers and sorts out financial issues ahead of time, leading to faster closing times.

Step 3: Consider all additional costs

In determining your budget, keep in mind that homeownership costs go beyond mortgage amortizations. Go over your finances and make sure you’re prepared for these expenses.

There are two main cost categories associated with buying a house in San Ramon, CA or elsewhere. First, the upfront costs that are paid out of pocket once a home sale is completed. This includes the down payment and/or full payment, closing costs, broker or agent fees, document processing charges, and moving costs. The second type of expense is ongoing costs, including monthly mortgage payments, property taxes, homeowner association fees, insurance, and maintenance.

Step 4: Determine your needs and preferences

When choosing a home, price is a significant determining factor, but you would also want to make sure that the property you’re getting is right for your needs and preferences. Pay close attention to location, amenities, and your lifestyle.

For example, you and your partner may be looking for a three-bedroom home, but if you plan to have children, you may want to have the flexibility to add more bedrooms and living space in the future. Take a moment to evaluate the size of the living room, garden, and garage—are these adequate to support the things you’ll be accumulating?

Location is also a very important factor to consider in choosing a home. How far is the property from work? Are you willing to add to your commute time if that’s what it takes to have the home of your dreams? If you have school age kids, are there good schools in the area? How close is the home to grocery stores, and other basic conveniences? If you love going out for dining and entertainment, check the amenities in the area, including nearby shops, restaurants, and recreational facilities.

Having a list of your non-negotiable features can help you quickly filter out homes that don’t suit your lifestyle. If the home will be used as a rental, consider the amenities and renovations you plan to improve or add.

Once these basics are ironed out, then you can start to outline your “wants”. These are the things that are nice to have but are not deal-breakers. Generally, you can compromise on these features without severely affecting your lifestyle. They’re unique to each buyer – for some, this could be a large, modern kitchen, while others who love to entertain may want a sizable porch with a view.

Step 5: Study the market

Research the market and community, so you have a better picture of the profitability and sustainability of your investment. Look at data such as population and growth, significant employers, local housing activities, and rental trends and rates as these are all indicators of the area’s desirability both in the short and long term. A location with signs of growth and development often has a healthy appreciation rate, which means you can expect a home here to significantly improve in value over time.

Paying attention to the housing market will give you a good idea of what to expect with regard to the competition and negotiations with the seller. In a seller’s market where the demand for homes is greater than the supply, it’s best to act fast because time is of the essence. With tight competition, it may not be wise to ask for multiple concessions and contingencies. In a buyer’s market, you will have more wiggle room to negotiate the price and contingencies with the seller, and more time to compare and review properties more closely.

In studying the San Ramon, CA real estate market, other important data to look into includes average home prices in neighborhoods you’re interested in. This will give you an idea if a home you like is priced reasonably and can also guide your bidding strategy.

Keep in mind that if the market seems to be favoring sellers, this shouldn’t necessarily put you off. Instead, use the information you get to guide your next steps.

Step 6: Choose the neighborhood

San Ramon is home to a wide array of neighborhoods catering to different lifestyles, budgets, and preferences. You’ll find family-friendly communities with nearby quality schools, upscale gated communities with luxurious amenities, and bustling condo communities close to urban conveniences.

Gale Ranch is one of the upscale neighborhoods in the city, boasting plenty of green spaces and stunning landscapes, as well as luxury homes and access to shopping centers and recreational facilities. Those looking for an exclusive, gated community will feel right at home in Canyon Lakes, which features a private golf course, swimming pool, and tennis courts. Families can explore Bollinger Hills. The neighborhood features hillside views, community pool and park access, and ample outdoor activities for families.

Step 7: Work With experienced Realtors in San Ramon, CA

It is certainly possible to buy a house in San Ramon, CA, on your own, but the services of an experienced Realtor adds significant value to your real estate experience. Working with an expert who understands the local market can spell the difference between house hunting for months or overpaying for a home – and getting your dream home seamlessly and at the best price.

Agents can help you narrow down your choices faster than if you were to do it on your own. Leveraging their insider knowledge and market experience, your Realtor can provide insightful feedback and advice to help you make informed decisions. You can also rely on your agent to negotiate strongly on your behalf and always advocate for your best interest.

With their widespread network, Realtors can also connect you with home inspectors, assessors, mortgage brokers, and other professionals whose services are essential to the process.

When choosing an agent, take time to browse different firms and get recommendations from trusted friends, family members, and colleagues. Interview three or more Realtors before settling on someone to make sure the agent you work with is someone you can get along well with and can fully trust.

The best part is, as the buyer, you get a Realtor’s services at no cost to you. In most real estate transactions, the seller usually pays the commission fee, which is usually split between the buying and listing agents.

WORK WITH LEADING REALTORS IN SAN RAMON, CA

San Ramon, CA offers opportunities for family-friendly luxury living with access to the great outdoors, fantastic education systems, and a diverse community. In searching homes for sale in this highly desirable city, work with top San Ramon Realtors to get the best results.

Get in touch with me, Kimberly Ghazvini, and be assured of top tier representation and knowledgeable guidance as you navigate this dynamic market. I’m a top producer at Golden State Sotheby’s International Realty with over 20 years of experience as a Realtor and real estate investor. I am committed to helping you achieve your real estate goals in San Ramon and the rest of the East Bay region the smooth and seamless way.

Call me today 650.444.3148 or send me an email to get started. You can also leave me a message here if you have any questions.