Tired of paying a mortgage size payment for rent every month? Are you ready to buy a home in central NJ, but not sure when is the right time.
Did you know that homes have never been more affordable, historically speaking, than they are NOW? There two reasons for this, the prices of homes have dropped to the point where they can be afforded by the median household income (i.e. the affordability index is higher) and the mortgage interest rates are still historically low. While waiting for the home prices to fall even further may seem prudent (but currently not substantiated in most local markets), the prevailing interest rate has a greater affect on the cost of purchasing the home.
The savvy NJ Home Buyer gets prequalified, follows a home buying plan and establishes a budget. Your credit history has the highest impact on the COST of your home mortgage. The earlier in the process you know your FICO scores, the more time you have to improve them. Many buyers today are also unaware of financing through state and local government programs allowing for little or no upfront cash. While some of us are lucky enough to receive gift money towards our first home, most find creative ways to budget expenses and save a considerable sum in a short time.
Another scary cost associated with home ownership is repairs due to latent defects, obscured damage or lapsed maintenance of homes. The home inspection process protects you now by avoiding the costly mistake of buying today's equivalent of "the money pit". A good home inspection also protects your future assets by identifying areas requiring ongoing preventive maintenance, budgeting for future repairs/replacements and identifying behaviors that maximize the return on your investment.
Join us on March 20th from 1 pm to 2 pm for our "Home Buying Ignorance Can Cost You" seminar. This seminar is being held at the Prudential Fox & Roach / Trident Group Building located at 1500 Finnegans Lane, North Brunswick, NJ 08902. The Seminar is hosted by the O & A Home Team (Oscar del Alcazar, Ana Monroy and Justin J. Footerman, Real Estate Consultants). Our guest speakers are Roland Minard, Real Estate Loan Officer with Trident Mortgage (North Brunswick, NJ) and Rafi Footerman, NJ State Licensed Home Inspector of Mid-Jersey Inspections (Edison, NJ). *Offering Free Credit Scores to those attending the event.