We know that Home Ownership has many advantages. However, there could be disadvantages if you're not ready. Before going any further with your purchase, you should consider whether your lifestyle and finances make home buying a smart move for you.
Here Are 7 Tips Before Buying A Long Island Home:
1. Make Sure Your Credit History Is As Clean As Possible ~ Before you start the house search, it would be wise to get copies of your credit report and check to see that the information is correct.
2. Know What You Can Afford Before You Fall In Love With Your Dream House ~ Using an online calculator can help you get a better handle on how your income, debts, and expenses add up. Our suggestion would be to meet with a Mortgage Specialist and get the actual costs necessary to purchase a home.
3. Think About How Long You Are Going To Live In This House ~ It usually doesn't make sense to buy a home to own for less than three or four years. With the high cost of buying a house, selling it too early may mean you could lose money on the deal, even when the market is rising.
4. Decide What's Important To You ~ How many bedrooms, baths, den, office, basement that you may need. Before you buy, think about the future resale as regard to neighborhood, schools, transportation and shopping.
5. Be Flexible With What You Want And What You Really NEED ~ It would be unfortunate to find a house you think is okay and realize later on that you need that extra bedroom space for out of town guests, or an office or a playroom.
6. Don't Expect To Find The Perfect House ~ Mostly everyone makes some compromises, so have an imagination and look beyond paint colors, wallpaper, or other easy and affordable things you can change.
7. Don't Forget About Additional Expenses That Come Along With Owning A Home ~ Think about having extra money for unforeseen repairs, taxes and insurance. It's also wise to hire a home inspector before you buy to make sure there isn't anything major that might be a problem, and what if anything, it may cost to fix.
Lawrence "Larry" and Sheila Agranoff, Licensed Associate Broker and Licensed Salesperson can help you find the Long Island house or condo you are looking for, when you are READY to buy.
If you're looking for a true Professional Real Estate Team on Long Island, look no further than calling Lawrence and Sheila at our Cell: 631-805-4400 and let us help you get started on your way to Long Island home ownership!
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