Industry Veteran Reveals Important Home Buying Tips

Well, if you are ready to purchase and you are a New Jersey First time home buyer or you are a move up buyer lets get started giving you the tools and information you need to keep the process from becoming overwhelming. And let’s see if we can map out a plan to get you the best and most home for your investment.

First and most important…take a serious look at you monthly budget. Spend a day or two and look at all the out flow of money for the last 12 months. A common question is where did all our money go?  If you know the answer to that question you may in fact find additional monies that can be used for you monthly mortgage payment, giving you more monthly purchasing power. Take a close look at your current debt, what will be paid off sometime in the near future, this too can free up potential money for your housing payment

Second, you must be pre qualified… . Have your goals and your  financial situation analyzed buy a experienced qualified mortgage professional.. Depending on your situation he or she may discuss a product that will enable you to qualify now for an anticipated financial improvement later. This not the time to ask “what’s your rate” This is the time to ask the mortgage person for their resume or credentials. You always want to work with a well informed professional, not an order taker.

Third, compile a check list of everything that is important about your new home purchase an example would be location, yard, and bedroom count etc. Then go back to that list and score what is most important to you and what is least important to you. When shopping for your home you may have to make some concessions depending on affordability and the location you choose. If you are thinking re-sale always score location at the top.

Fourth, find a local Realtor in the area where you have decided to purchase. Realtor s are easily found today. They promote themselves and their listings all over the web. The best way however would be if you get a referral from a family member or friend who had an excellent experience. Working with an experienced local Realtor will help streamline the process. They know what homes in the area should be selling for and can help you avoid looking at over priced properties listed by unrealistic sellers. When you are ready to make a firm offer on a property that you decided upon, ask  your Realtor to provide you with  some recent comparable sales  in that area. The comparable sales will give you a good indication of what you should offer.

Follow these four tip and you be assured of a good home buying decision.