Are you a first-time home buyer?Â There are a lot of things youâ€™ll want to learn before making that first purchase.Â Here are 9 tips to help you get a Brooklyn New York home youâ€™ll love and be prepared for additional costs you may not have considered:
1. Ask yourself if youâ€™re ready. Are you financially ready to buy a Brooklyn New York home?Â Do you have a steady job and income?Â Do you have money for the down payment?
2.Â Â Â Â Â Get pre-approved. When you get pre-approved for a mortgage loan, your lender checks your credit and lets you know the amount of mortgage for which you qualify.Â Having a pre-approved loan will put you at the top of the list when presenting an offer.
3.Â Â Â Â Â Identify closing costs. The cost of closing on the sale of your Brooklyn New York home shouldnâ€™t be overlooked. Closing costs include origination fees, title and settlement fees, taxes and prepaid items such as homeownerâ€™s insurance or homeownerâ€™s association fees.
4.Â Â Â Â Â Calculate your total monthly housing cost. Include taxes and homeowners insurance. Â In some areas, what youâ€™ll pay for your taxes and insurance escrow almost doubles your mortgage payment.
5.Â Â Â Â Â Include home maintenance expenses in your budget. Maintaining your investment can be labor-intensive and expensive. Unexpected costs for new appliances, roof repairs and plumbing problems can drain your bank account.
6.Â Â Â Â Â Find a Brooklyn home. Identify the neighborhood, you want to live in.Â Hire a full-time REALTORÂ® who specializes in that neighborhood to help you find and negotiate the purchase of the home.
7.Â Â Â Â Â Get a home inspection. Make sure your agent includes a home inspection contingency in your offer to buy a home. If youâ€™re unsatisfied with anything found in the home inspection, have your agent negotiate with the seller to make repairs, pay for repairs or lower the price.
8.Â Â Â Â Â Make it to closing. You have your financing, your offer has been accepted, and youâ€™re anxiously awaiting the day you close on your home.Â Now, you just have to make sure you donâ€™t do anything to jeopardize your credit.Â Do not change jobs, buy a new car or apply for credit cards.
9.Â Â Â Â Â Celebrate. Congratulations!Â Youâ€™re now the proud owner of your first home.
Buying your first home can be exciting, especially if youâ€™re knowledgeable about the process and prepared. Follow me for more Questions &Â Answers About Buying a New Brooklyn Home .
If your goal for this year is to be a first-time homeowner, let me guide you through the process of finding and buying a home. For a FREE copy if Michael Reinhardts book â€œBuying Real Estate does Not Have To Be Stressful, call Charles Dâ€™alessandro your Brooklyn RealtorÂ® of Fillmore Real Estate today at (718) 253-9600 ext 206 or email me at email@example.com for more information.