10 Tips For First Time Home Buyers In Westchester County NY

1) Do Some Research Before You Start Looking For A Home -  Decide what features are a must and what you can compromise on.

2) Get Your Finances In Order - Obtain your credit report and review it, if there is anything that you feel is questionable challenge it.  Be sure that you have enough saved for a down payment, closing costs, and any other initial costs.

3) Get Yourself Preapproved For A Mortgage -  Some people wait until they have found a home to do this.  Getting preapproved in advance let's you know what the banks are willing to lend you and also puts you in a better position to make an offer when the right home is found. All offers need to be accompanied by a preapproval letter anyway so it's better to have it ready.  In simpler terms you wouldn't go shopping without your wallet.

4) Decide When You Would Like To Move - If you are renting, check your lease to see if it can be broken or talk with your landlord.

5) Think Long Term - decide whether this will be a long term investment or a starter home.  It is very important to determine this early on so that when you look at homes you can decide if any work needed will be a long term investment or too costly for the short term.

6) Don't Get Too Many Opinions - You have to live in the home, not anybody else. Turn to one or two people who you think can give you an un-biased opinion, if you feel you need one.  Too many cooks ion the kitchen never get dinner cooked.

7) Remember That There Is No Perfect Home - You will need to be realistic and with the help of your agent decide whether a particular home is too much to take on.  Don't settle, but realize that you will have to compromise on certain things.  If you enter a home with lower expectations and try to see the potential it can be a bit easier.  Try to look at it as bettering your investment if the home is worth it to you.

8) Don't Let Yourself Become House Poor - If you bite off more then you can chew, you may come to resent the fact that you are working solely to maintain the home, leaving yourself little or no room for decorating or other unforseen financial situations.

9) Cover Yourself - Insist on an engineering inspection, along with other tests recommended by your Realtor, to rule out any major issues with the home.  See if the seller is offering a warranty for anything in the home.

10) Be Aware - Hiring a professional Real Estate Agent to represent you in your transaction is truly beneficial and will help with many aspects of the purchase.