There are many things to consider when searching for the perfect piece of Long Island real estate. Buying a home is a big financial and life changing decision. Take your time and make sure that everything feels right. A good place to start would be to sit down and make a list with three categories labeled “must have,” “nice to have,” and “not important.” Fill in your priorities and make sure to compare this list if you are buying with a partner. You may need to decide on a few compromises.
Once this is done, a good next step would be to get pre-approved for a mortgage. This way you can know exactly how much Long Island real estate you can afford. Just keep in mind that the amount a lender is willing to approve you for may not be optimal for your budget. Take a look at what your monthly repayment amount would be and compare that to your current housing costs. Then think about money that will be needed for maintenance and home improvements. Do not forget to take into account possible changes to your income in the next five or ten years. Do you hope to start a family? Will you need to purchase a new vehicle? How will these events affect your ability to pay? From here, come up with a comfortable price range to search with.
Enlist a Long Island Home Inspector to Make Sure You’re on the Right Track
Next, choose a good realtor to help you through the process. Chat with a few professionals and make sure you feel good about your choice. They will be helping you through making one of the biggest decisions of your life. A realtor will be a big help in finding potential properties, negotiating terms, and recommending lenders, home inspectors, and other needed professionals. Even if you are lucky enough to find a really good realtor, be sure to ask questions and do your own research and homework. Research different loan types that are offered to you, do research on properties that look like a good fit, and understand the buying process. Once you are out looking at properties, make sure the location works well. Visit the neighborhood at different times of they day, talk to neighbors, and test out the commute to your workplace.
Also keep in mind that this home purchase it not just for now, but for the future. Just as you did with your finances, think about what your family will look like in five to ten years and see if the house still feels like a good fit. Be sure to take note that you will be working to make this house your own. Do not walk away because of weird paint colors or ugly carpet. Those things can be easily changed. Focus on things like the layout of the house and other attributes from your initial list. Once you find a great place that you want to purchase, it is a really good idea to call a Long Island home inspector. A professional will know what to look for and help to find any potential issues with the home. Walk through the house and property with the inspector. This will help you to learn where the major systems of the house are located and allow you to see any potential problems with your own eyes. You can use these problems as a bargaining tool and ask the sellers to make repairs so that you do not have to deal with them when you are just moving in. The home buying process may seem daunting, but taking it one step at a time and having good people in your corner will help make the process easier.