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Deciding to Buy

North Jersey is one of the best regions in the state to live and purchase a home. To help you out, we created a to-do list. This will allow you to maximize your time and enjoy a relatively stress-free home buying experience.

  • Do your research
    Determine what kind of home best suits your needs, where you want to live, and how much house you can afford.

    • Assess your financial capabilities. Are you in good financial standing to buy a house? Some of the things you should examine include your debt-to-income (DTI) ratio and your credit rating.
    • The right mortgage loan. We recommend talking to several banks and lenders, then compare quotes to find the best rates. Click here to learn more about mortgages.
    • The best neighborhood. Spend time to research neighborhoods to find ones that best fit your lifestyle and needs. This will help narrow down your home search.
  • Get mortgage pre-approval
    Most home sellers these days prioritize buyers who are pre-approved for a mortgage loan. So, take the time to get pre-approved. The process usually takes between three days to months, depending on your situation.Since a pre-approval letter is valid for 60 to 90 days, timing is key. Get approved right before you start shopping for a home.
  • Find a North Jersey real estate agent
    Make your home search relatively quick and smooth with the help of a real estate agent based in North Jersey. We highly recommend working with a realtor who specializes in the areas or neighborhoods you want to focus on. If you’re interested in exploring homes for sale in Bergen, Essex, Passaic, and Morris counties, I can help you.
  • Go shopping
    It’s time to look for your dream home. You can narrow down your search even more by adding specifics, such as must-have home features, access to
    schools and public transportation, and others. You can also just look at new construction or resale properties, whichever you prefer.Keep your eye out for details. You can take photos and make lists to compare homes. And if you have any questions, don’t hesitate to ask.
  • Make an offerGreat offers are hard to resist. So, how can you sweeten the deal? Aside from your pre-approval letter, make a detailed list of contingencies.

    You can choose to close the transaction quickly, shoulder the costs of half or all the repairs, and whatnot. Consult your real estate agent so you can settle on contingencies that won’t be detrimental to you.

    You can also add a personal letter addressed to the seller, detailing how much you love their home. This can work, especially if the seller is emotionally attached to the property.

    If the seller accepts the offer, we move on to the closing process. This takes an average of 50 days. Before the agreed closing date, finalize your mortgage loan, review the contract, and do a final walkthrough of the house. Consult this article for things you need to do during closing.

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully

Why Do You Want To Buy?

Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.

Has Your Income Grown?

Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.