Home Buyer's Guide

Step 1: Define Your Needs and Wants

Create a prioritized list of features you need and want in your next home and the reasons why. Be open to making some compromises.

Step 2: Figure Out What You Can Afford

Determine what you can afford. A good rule of thumb is to have a monthly payment of approximately 30% of your gross income.

Get pre-approved for a mortgage so you can know how much house you can afford and what your monthly payments would be. Plus, it tells the seller that you can afford to buy their home.

Step 3: Shopping For Homes

Start checking out actual properties. Take advantage of searching online to help save you time since it can help you target homes that meet your search criteria.

Visiting homes in person. Make sure to look at all aspects of the property including property tax , renovations, number of bedrooms and bathrooms, and encumbrances.

Step 4: Making An Offer

Get assistance from a real estate professional to negotiate the offer between buyer and seller. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.

Consider purchasing a home protection plan which can help protect against unexpected costs or home repairs during the listing period or in the initial years after a home has been purchased.

Step 5: Inspection & Insurance

Set up, coordinate and interpret various inspections, including insect, radon, building quality, oil tank, title, etc. Arrange for homeowners insurance and finalize the mortgage.

Ask for a "walk through" before the closing.

Step 6: The Final Closing

Make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary under local and state laws are not completed and brought to the closing table, the closing may not happen on time. And, depending on what the contract says, this could result in further action including financial penalties and even the loss of your rights to the home.

Consider arranging for an alarm system, turning on the electricity, subscribing to the local paper, cleaning or replacing the carpet, arranging for lawn services, etc. This could also be a good time to make some needed renovations.

For information on buying or selling properties in any of these
New Jersey counties, please contact:
Eleanor Agoncillo
Tel. no.: (908) 433-7167
e-Mail: eleanorsnjhomes@yahoo.com

or use our inquiry form.

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CENTURY 21® is a registered trademark licensed to CENTURY 21 Real Estate Corporation. Each Office Is Independently Owned And Operated. Data found in this website has been compiled from multiple government and commercial sources. Century 21 or Eleanor's NJ Homes does not guarantee the accuracy or timeliness of any information on this website.

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