JW Baelly  /  Journal  /  Before you go house-hunting

Guide · No. 01

Four things to finish before you go house-hunting in LA

Touring homes is the fun part. But in competitive markets like Burbank or LA, walking into open houses isn't the first move. By the time you set foot in an open house, you should already have the paperwork in your bag to close escrow tomorrow. That's how you actually win. Here are the four things I've learned, on the ground, that every buyer should finish before the hunting begins.

5 min readUpdated 2026By JW Baelly

01 Don't be fooled by "Pre-Qualified"

A lot of buyers plug a few numbers into an app, see a figure pop out, and think "this is what I can borrow." It is not.

The reality: Pre-Qualification is a reference number. To make an offer that actually competes, you need a Pre-Approval — meaning an underwriter at the bank has personally reviewed your tax returns and bank statements and signed off.

The winning move: Get a Fully Underwritten Pre-Approval before you start touring. When two offers come in at the same price, the seller picks the buyer whose financing is already verified.

02 The 1%+ rule — don't forget closing costs

The down payment isn't the finish line. There's an "admission fee" to actually move the house into your name.

The reality: Closing costs — escrow fees, insurance, taxes — typically run 1% to 3% of the purchase price.

The winning move: Don't drain your entire account into the down payment. Lenders want to see 3 to 6 months of mortgage payments still sitting in your account as reserves after closing.

03 An inspection isn't just a surface check

A home can look brand new and still hide serious problems. Standard home inspections only scratch the surface.

The reality: Invisible plumbing or foundation issues can turn into tens of thousands of dollars later.

The winning move: In older neighborhoods like Burbank, always pay for a separate sewer lateral inspection. Replacing a single underground pipe can run over $15,000. Hire dedicated specialists for the roof and the foundation too — paying for those inspections upfront is how you avoid paying for them as repairs later.

04 Buy a good house, not a pretty one

Don't get seduced by wallpaper colors or stylish lighting. Those things you can change any time.

The reality: You can remodel the kitchen, but you can't move the home's location or change the school district.

The winning move: Find the ugliest house in the best neighborhood. That's the one that delivers the biggest appreciation later.