Get fully underwritten, not just pre-qualified
A pre-qualification letter is an opinion. A fully underwritten approval is a decision the lender has already made.
Sellers can tell the difference, and in a multiple offer situation it is often what puts you ahead of a higher number.
Read the disclosure package before you fall in love
In San Mateo the seller usually hands you inspections, a preliminary title report and the natural hazard disclosures up front. That package is where the real story is.
Spend the evening with it. If something in there would change your price, better to know before you write than after.
Know what you are actually competing on
Price matters, but so does closing timeline, deposit size and how clean your terms are. Some sellers want speed. Some want a rent back so they are not moving twice.
Ask what the seller needs. It is usually a cheaper way to win than another twenty thousand dollars.
Budget past the down payment
Property tax in San Mateo County resets to your purchase price, and that is a real monthly number people forget.
Add insurance, any deferred maintenance you found in the disclosures, and a cushion. A home you can comfortably carry beats a home you technically qualified for.
Walk the street at two different times
Go on a Tuesday evening and again on a Saturday morning. Traffic, parking, noise and light all change.
It takes an hour and it is the cheapest due diligence there is.
If you are looking anywhere in San Mateo, call me and tell me what you are after. I will tell you honestly whether it exists at your number.