5 Tips for First-Time Home Buyers

1. Learn About the Neighborhood

You may be planning on purchasing a starter home and moving later on.  It never ceases to amaze how time flies and things change. The home you are purchasing today may become your forever home.  In purchasing any home, be sure to explore the neighborhood, stores, playgrounds, schools, daycare, medical services, and future development.  Your commute to work and family may become permanent, make sure it’s manageable.

2. Don’t Exceed Your Means

Rely on your income and assets at the time of your purchase, not on what they may be in the future.  Future increases in income and assets should become a cushion for life expenses and retirement. Allow for contingencies and know that most things cost more than anticipated.

3. No House is Perfect

Remember that part of purchasing a home is making that home your own. Don’t let how a Seller kept their home, or a scratch or crack in tile stop you from seeing the possibilities. Perfect houses, if you can find them are very, very, costly.

4. Don’t Cheapen Your Worth

Remember that part of purchasing a home is making that home your own. Don’t let how a Seller kept their home, or a scratch or crack in tile stop you from seeing the possibilities. Perfect houses, if you can find them are very, very, costly.

5. Organize Post Closing Costs

Make a chart of your monthly, quarterly, and yearly costs including mortgages, taxes, insurance, and utilities. Use autopay for mortgages and recurring bills to keep your credit score high.

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The content in this document is provided for informational purposes only, and should not be construed as legal advice or an offer to perform services on this subject matter. Contact Visci & Associates to schedule a consultation at our offices in New York and New Jersey.