Spring is in bloom, the weather is getting warmer by the day, nature is coming to life once again, and you feel like you could go hunting for a new house in New Jersey, right? You wouldn't be the only one! The global pandemic that has turned our existence upside down in the past year has kept realtors busier than you might imagine. Lots of folks people suddenly found themselves living in homes that were simply too small to accommodate their brand new “work, study, work out from home” needs. If you feel the same and you want to buy a new home in NJ, here are 3 tips to get you started on the right foot.
Tip #1: Set Up A Budget and Figure Out What You Need
New home, new memories. If you are looking to leave behind some bad COVID-19 memories, moving into a new place is just what you need. Here comes the tricky part. You don't exactly know what you need. Not to worry, there are quick ways to find out:
- Find out how much house you can afford. It is pointless to start daydreaming about a state-of-the-art smart home with 7 bedrooms and two pools when you can only afford half of all that.
- Find a good home loan expert and an equally reliable real estate agent. Get together and have a talk and crunch all the numbers.
- Figure out all the taxes you will need to cover on top of the mortgage payments, how much will the utilities costs, as well as how much you should expect to pay for home insurance, home repairs or local carpet cleaning service in New Jersey, and so on. A 3-bedroom with carpeting and area rugs, upholstered furniture, curtains and draperies on all windows will require you to hire periodical cleaning services that you may or may not be able to afford.
As eager you might be to get a certain house in a certain part of NJ, you may not be able to afford it at the end of the day. Try to keep your feet on the ground and listen to what the experts have to say – you will thank yourself later, guaranteed!
Now that you have figured out how much house you can afford, it is time to think about the mandatory amenities and the needs and desires accompanying them concerning your new home. A two-car garage might be a must for your family, while a jacuzzi might be a want that can be postponed for now.
#2: Choose Your Favorite Neighborhood To Live In
Pick a safe neighborhood with decent traffic during rush hours traffic. This is particularly important if you plan on commuting to and from work every day, dropping the kids to school and picking them up or running lots of errands in the city during the week. Choosing a busy road for your new home might not be a good idea if there will be small children living with you, for obvious safety reasons. Focus on finding a clean, well-maintained neighborhood and make sure there are plenty of shops, parks, a nearby school, hospital, bank, or home cleaning services you can hire anytime you need to with zero hassle.
#3: Improve Your Credit Score
Focus on improving your FICO Credit Score as it will play an essential role in getting you a better mortgage rate. If your credit score is not the best, work on improving it and getting credit ready by:
- taking a look at your credit report
- getting a few tradelines
- paying off old debt
- steering clear from getting new loans
- not buying on credit anymore
Finally, allow yourself to trust your gut feeling, but also rely on the expertise of professional realtors when buying your dream home in New Jersey.