buying first home in New Jersey

Buying Your First Home in New Jersey?

August 3, 2016 in Real Estate

Buying a home for the very first time can give you a sense of achievement and responsibility towards a brighter future. But you don’t want to mess it up by making some bad decisions in a hurry. There are few things you need to consider before zeroing on the house of your choice so that your investment bring you far more benefits down the road. Here’s what you need to think about:

Find a Reputable Real Estate Agency to Help You

Even before you think of buying your first home in New Jersey, the most important thing that you must consider is availing the services of a reputed real estate agency that has the relevant experience in grabbing the best deals available in the local market. Don’t try to be an expert yourself by saving money on an agent, since that can very well backfire in the long run. Ask for genuine recommendations from your social circle and usually, this works very well since your family or friends have already benefited from the services of that recommended agency.

Be Wise with Your Budget

This is one of the most common things to consider whether you are a first-time home owner or an experienced one. However, the manner in which you estimate your budget can affect your long term survival as the owner of a property. Take a look at the maximum amount you can shell out without getting into any financial knots later on. Mortgage and down payments are just the starting point; you also need to consider other expenses such as property tax, utility bills, home insurance, and maintenance costs. If you are left with enough to meet your living requirements for at least a couple of months after moving to a new home, you are on the right track.

Match the Home to Your Style of Living

Moving to a new home in New Jersey doesn’t mean you need to compromise your usual lifestyle to an extent that doesn’t augur well for your future.  Your hobbies, distance from your workplace, future family size, proximity to your friends and relatives or even your favorite gym are some of the basic lifestyle insights you need to consider when buying your first home. Set your priorities straight and make a list as to which property exactly matches with the kind of lifestyle you are comfortable with. You may not be able to avail each and every amenity you wish for, but you can certainly get closer to the ideal property that ticks all, if not most, of the boxes.

Think about the Possibility of Renovation Costs

It’s easy to get lured into buying a cheap property that demands complete remodeling in order to shape it the way you desire. Thought it’s not a bad choice to buy an unfurnished property that is reasonably priced, you need to make sure that the extent of renovation required does not exceed certain cost limits which can easily get you a well-furnished home. Make those calculations prudently and consider everything from the closing costs to the moving expenses. Perhaps you are going to place a heavy downpayment and going for a complete revamp is only going to weaken you financially, which is not a very smart choice.

If you are looking to move into New Jersey, check out our recent listings and contact us today to help you get your hands on your very first home in style!

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