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Harbour Ridge: An Unlikely Oasis for a First Time Buyer

It’s amazing what you can find out there as far as simple, useable, affordable properties when you put your mind to it. Salt Lake is sometimes overlooked because it is located about 10-15 minutes from Metro Honolulu, in NO traffic. With traffic, you are probably looking at about 20-30 minutes. 

However, there are a lot of people within our community that work near or at the Honolulu Airport and this is just a hop, skip, and a jump away! My dad loves to say that he can walk from his home at Plaza Landmark (a building in Salt Lake) to the Honolulu Airport and straight into first class. While I wouldn’t suggest this, if my dad can walk there with his suitcase…so can you!

Building Exterior
Exterior of Harbour Ridge, invites you and your guests to have a great living experience

I recently had a client, who is very interested in this building, ask a series of questions, and I thought, “maybe there is someone else out there that could use this information.” Most of the information could apply to just about anyone starting their search.  

Harbour Ridge is one of those buildings that feels comfortable, like and old favorite blanket. It’s approachable and at the end of a cul-de-sac with plenty of guest parking. I often have requests to see the building, it’s very popular with central AC and washer and dryer in the unit. The top two floors also have some, not all, units with a lanai! Harbour Ridge is truly a gem for the buyer who is starting out, is looking for a place convenient to work, or wants to be a little outside of the hustle and bustle.

Frequently Asked Questions

The very first place one should start their home search is working to find and secure a loan officer and realtor they trust and feel comfortable with. I sent my client a list of loan officers to choose from and offered more in the event none of them worked out.

1. Should I call these loan officers and tell them the rough price of the condo I am planning to purchase?

Yes, they will ask for some financial information. You can call one, some, or all of them. We have more in case this list is not sufficient. They will pre-qualify or pre-approve you for an amount, which will most likely be higher than the price we are looking at. They will also give you rough information on how much your monthly mortgage payment, maintenance fees, property taxes, and homeowners insurance will be. Let them know how much total per month you are looking to pay and they will fit your purchase price based on that amount. 

One question you should ask each loan officer you speak with is what is their APR. This will show a number based on how much your interest rate is plus all the costs associated with the loan and give you a percentage amount. Try to ask for same points and same interest rate from each so that you’re comparing apples to apples.

2. Do you know what information I should provide them to get myself pre-approved?

Usually, it’s your last two pay stubs, your last 2-3 tax returns, any assets/liabilities you have, and possibly some other items as they see necessary.
Enough space to cook and eat with enjoying your very own view of either the golf course or the ocean.
Plenty of space to cook and eat while enjoying your very own view of either the golf course or the ocean

3. How much do you think we can down the price?

I always suggest a range for the offer, in this case, I suggested the following items:

  • Where I think the market is at
  • What I think it could sell for
  • Where I would suggest to offer

 
I typically advise these three price ranges, so that it gives you an idea of what most people would wonder: Am I paying too much? Of course, that’s not up to me to figure out. However, I do believe what it once sold for, I would think, it could sell for that again. If the price we offer is at the top of pricing that has sold in the last 10 years, then I would be concerned. However, it doesn’t mean that it’s necessarily a bad deal either. This would all depend on the building, the market, and the location.

Here are the comparable sales for Harbour Ridge:

 
4. Also, is it possible to get the new flooring and fix little cracks before I move in?

We can always ask for that, most sellers won’t do that though…it’s also a risk for you in the event it doesn’t close, or anything happens to it while in escrow, risk passes to you potentially per the purchase contract. We can time it though, so that the renovations to the floor happens the day or day after we close, and if it only take a day or two, you can move in right after. That’s the safer bet.

5. Or is it something I need to figure out once I move in?

We assist with this, so you won’t need to figure it out. We will help you coordinate where we may have the keys to allow the flooring people in and you can be working in the meantime.

Additional Information

Thought this would give you all an idea of where to start, some of the questions that have been posed before with a real live example of a property that could work for you. Looking forward to one day meeting you, and hopefully we can go through this extremely fun process together. If you have any questions about Harbour Ridge or the surrounding area, feel free to contact me.

Harbour Ridge Pool on a bright sunny day
Harbour Ridge Pool on a bright sunny day

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Tony V

September 30, 2014

You should also do an article on condos in the Waianae area of Oahu, HI. You can get very good deal and some direct ocean access if you are looking for more quite place. With the growth of the Kapoli area due to Aulani and eventually the metro you are not far from everything you need. I know that historically this area has seemed to be beaten up by the locals and considered a rough area, but I find the locals to be very friendly. If you get tired of it being so quiet, you can always jump in the car and go to Waikiki or the North Shore. I recently purchased a condo at Makaha Beach Cabanas. I love that it is fee simple, great HOA fees, security. There are also many other condos in the area that are of various value depending on the amenities a buyer is looking for. I am amazed that this area has not been picked up as a review by some of your sites.

Mark K.

October 27, 2014

I agree, completely. In fact when it comes to affordability and first-time buyers you can’t do better than Waianae-Makaha. I was extremely happy to notice the Oct. 26, 2014 HGTV episode of Hawaii Life, featuring a minister and his family, who chose a home in Makaha. Realizing, of course, that, yes, Waianae-Makaha is considered the “end of the earth” by most Oahu dwellers, and the Honolulu commute is likely prohibitive for anyone needing to work in town, nevertheless, for folks who don’t have to commute into town on a daily basis, Makaha is the best bargain Hawaii offers. I tell my friends that it doesn’t matter that when I die if I should make it through the Pearly Gates or not, because I’m already living in Heaven!

Tony V

September 30, 2014

You should also do an article on condos in the Waianae area of Oahu, HI. You can get very good deal and some direct ocean access if you are looking for more quite place. With the growth of the Kapoli area due to Aulani and eventually the metro you are not far from everything you need. I know that historically this area has seemed to be beaten up by the locals and considered a rough area, but I find the locals to be very friendly. If you get tired of it being so quiet, you can always jump in the car and go to Waikiki or the North Shore. I recently purchased a condo at Makaha Beach Cabanas. I love that it is fee simple, great HOA fees, security. There are also many other condos in the area that are of various value depending on the amenities a buyer is looking for. I am amazed that this area has not been picked up as a review by some of your sites.

Mark K.

October 27, 2014

I agree, completely. In fact when it comes to affordability and first-time buyers you can’t do better than Waianae-Makaha. I was extremely happy to notice the Oct. 26, 2014 HGTV episode of Hawaii Life, featuring a minister and his family, who chose a home in Makaha. Realizing, of course, that, yes, Waianae-Makaha is considered the “end of the earth” by most Oahu dwellers, and the Honolulu commute is likely prohibitive for anyone needing to work in town, nevertheless, for folks who don’t have to commute into town on a daily basis, Makaha is the best bargain Hawaii offers. I tell my friends that it doesn’t matter that when I die if I should make it through the Pearly Gates or not, because I’m already living in Heaven!

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