Magdalena L. Events

Some couples choose the traditional route of first getting engaged, getting married, and then purchasing a home. While others may or may not get engaged first, but do move in together first, and then get married.

In my opinion, it seems to be more and more common that a couple lives together before marriage. There are many reasons for it, whether they need to see if they truly are compatible with each other, they can’t afford to live on their own, they feel like they can’t afford to get married at the time, and many other relevant reasons. That being said, those couples who live together most likely start off by renting a property together. During the timeframe of living together, first comes a house warming where friends and family want to spoil them with gifts and then throughout the years the couple starts to buy items that are needed to sustain their household: kitchen necessities, decor, bedroom sets, the dream giant flat screen tv, surround sound system for those football Sundays, etc.

Once the couple gets to the point of engagement followed by wedding planning, a lot of them tend to opt out from having a bridal shower. This makes absolutely perfect sense. If they have everything they need, what’s the point of a wedding shower? Well, in my personal opinion, throughout your life you get invited to so many showers whether it’s for your home or a baby, you’re always dropping a significant amount of money on your friends and family. I think that it’s only fair for you to get help in some way from your loved ones when it’s your special occasion.

Well, what’s the use of having a wedding shower if you own everything you need for you home? There are some options, such as throwing a Honeymoon Shower or even FUNDING YOUR FIRST HOME SHOWER! Woohoo!! From my past experience, typically a coworker or friend will spend around $50.00 – $100.00 on a bridal shower gift. A closer friend may spend around $100.00- $200.00 and a close family member may contribute between $300.00 – $500.00. I have seen some occasions when an immediate family member contributed around $1,000.00 on their gift to the bride and groom. So let’s say you’ve invite 50 people to your shower, 25 are friends or coworkers, 20 are close friends and family, and 5 are immediate family… there is a good chance you will get around $6,000.00 from this shower. This is a great start to your first home deposit!

Sincerely, Magdalena L. had a great privilege to have a one to one interview with certified Orange County Real Estate Agent, Kristina Hudes, discussing the topic “Fund Your First Home Deposit by Throwing a Bridal Shower”.

Before you read the interview, here’s some background knowledge about Kristina Hudes from The Hudes Group:

Kristina Hudes is Realtor and Business Owner in Orange County, CA. She attended San Diego State University where she received her Bachelor’s degree in Integrated Marketing. Kristina also attended East China Normal University in Shanghai, China where she studied International Business and Chinese Culture. Kristina was Rookie of the Year, currently a Top 5 Associate at Keller Williams Realty, has been featured in Inman News and was selected to serve on the Associated Leadership Council for Keller Williams Realty.

Here is the exclusive interview we had with Kristina Hudes:

  1. How is the market looking right now? Is it a good time to buy?

The market is changing right now – which means the market does not favor buyers or sellers. Which is GREAT news for buyers…it’s been a sellers market for years! Right now, there are more options of homes to buy then there have been in the last 4+ years. Because housing inventory is higher, and demand has slightly decreased, we’ve seen our buyers have more negotiating power now, compared to the past 4 years when Seller’s had the upper hand.

2. Which parts of Southern California are more affordable for a first time home buyer to look into?

It depends on your definition of affordable and what you’re looking for in a home. In Orange County, you can find the most lower priced properties in the following cities: Santa Ana, Mission Viejo, Fullerton, La Habra, Rancho Santa Margarita, Garden Grove, Lake Forest, Orange, Laguna Hills, Anaheim, and Aliso Viejo to name a few.

  1. When should a couple start looking for a home? Should it be during the engagement or after marriage?

If they can afford it, do it as soon as possible. The longer you wait, the higher your interest rate will be and the more money you will waste on rent payments. Best advice for first time buyer is to get into the market as soon as you possibly can.

  1. On average, how long does it take your clients to decide on purchasing a home? Is it okay if they work with you for a longer period of time?

Everyone is different, but once a client is pre-approved for a mortgage, it typically takes seeing 8-12 homes until they find the right one. It is definitely OK if they work with us for a longer period of time, but waiting can get expensive.

5. How much percent do you need to put down a deposit for a home?

It depends of their qualification for a loan. In general, it’s common to put 3% – 20% down. I’ve also had clients put as little as 1% down with down payment assistance programs. Or even 0% down if they qualify for a Veterans Affairs Loan.

6. For those that don’t have the full funds to put down money on a home, what options do they have? Is there a loan that can help them?

See above answer. Yes there are options, however every person has a different financial situation so it is best to get advice from a trusted lender to review your options. We work with Barry Krevoy with Loan Depot and highly recommend him!

Name: Kristina Hudes
Company Name: The Hudes Group
Title: Founder & Realtor
Address: 27101 Puerta Real, Suite 150, Mission Viejo, CA, 92691
Phone Number: 949-351-3924
Instagram: @HudesGroup
Preferred Method of Contact: Call or Text Kristina Hudes 949-351-3924

Fun Fact About Kristina: I was once presented with “The Cowbell Award” by Will Ferrell himself (Award name was a play off his old SNL skit… I’m a huge fan of his!!)