Buying a house for the first time is always a stressful situation. You have to take everything into account, from the cost, to the houses design, to its location. You want to make sure everything is perfect, and you get the most out of what you pay. Here are some tips to make your buying process smoother, and easier:
1. Save, Save, Save!
Remember, that when you buy a house, it’s not as simple as just paying for that property. There are additional costs that will pop up from everywhere, maintenance cost, down payment, property tax, make sure you budget these factors in while planning your purchase, to avoid any problems in the future.
2. Be Open minded
There is no such thing as a perfect property, at least not realistically. When you’re looking for your new home, keep an open mind. It’s important to make sure that the house is comfortable, but never keep a specific look in mind. Remember, you have to make your house your home. Once the house is yours, you can do what you want with it, and renovate it to your desires.
3. Have your Fighting Face On
Finding a good property in New York is hard work. So when New Yorkers find an amazing house, they tend to jump at it. Expect other competitors when you make your offer. Start your offer low, as you can always go up later, just in case you have other competitors fighting for the property.
4. Buyer’s Broker
This is a very controversial topic. You will have people telling you to work with a buyers broker and others telling you not too. But, as the saying goes, it’s better safe than sorry. At the end of the day, buyer brokers work in the property market for a living, they know what they are doing. They will put down the offers, negotiate prices, and connect you with lenders and lawyers if needed. Generally, they are a great help to have around.
5. It doesn’t happen overnight
Buying a house is a long process, and requires patience. Once you find your house (which takes a long time in most cases) be prepared to have to wait for a lot longer. Usually, transactions take up to ninety days if you’re going through co-op boards and using finances, and about sixty days if you’re using cash.
6. Don’t just take the house into consideration
When buying a house for yourself, make sure you don’t only look at the houses design, and how well it’s been maintained. Remember, you will be living in it. You have to look at the neighborhood, and make sure it’s a safe area. Take in it’s location, and make sure its easy to get to work from there. If you are moving in with other people, for example, your family, look at nearby schools, and shops. By using these tips, you’re buying process hopefully with become easier and a lot quicker! Good luck!
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