What are the top 5 concerns for new Buyer?

Asked by Freeman(yushen) Su, Garden City, NY Tue Mar 6, 2012

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Jolie Muss, , Upper West Side, New York, NY
Wed Mar 7, 2012
1. Will I be able to afford to buy this home, make the payments, maintain it and pay the insurance and taxes now and in the future (as taxes, insurance and expenses can go up)
2. Do I have enough cash or downpayment and can I qualify or been approved for a mortgage that is reasonable and that I can afford.
3. Am I ready to take on the care and upkeep of a home and what goes with it ? (or if a coop am I ready to deal with the board application process, etc.
4. Does this home meet my present and future needs
5. Do I have a competent local NYC attorney that specializes in real estate to review the contract, perform due diligence and attend the closing?
1 vote
Terry Farnsw…, Agent, Lisle, IL
Tue Mar 6, 2012
1. Will I be able to sell this property in the future?
2. Will the value of this property go up/down?
3. Can I afford the monthly payment?
4. Is the location safe?
5. Can I get approved for a loan?

In no particular order....
1 vote
Steve Hirsch-…, Agent, New York, NY
Sat Sep 7, 2013
the top 5 concerns are as follows,
Steve Hirsch, LREB from Geoffrey Stevens Realty
1- Will the bank give me a loan
2- Can I afford the monthly payements
3- do I have a downpayment enough to satisfy the bank and so my mortgage monthly is low.
4 - am I making the right purchase
5- Is it the right location
0 votes
Marco Gomez &…, Agent, Jackson Heights, NY
Thu Apr 18, 2013
Well that all depends, if you are purchasing a home the biggest concerns are: structure of the home, roof, mechanicals, plumbing and electrical. In regards to taking a mortagge you want to make sure you arent paying any unecesarry fees and you also can shop around for title insuance. Most buyers are unaware they can shop around for it. Dont leave it up to your attorney as they may not work with some of the oher title companies who are just as good and less expensive. If you are purchasing a coop the biggest concern is what condition the financials are in and any planned assessments ...when was the last time the roof was redone ?and the heating updated? as well if there or any plans to make updates to the items i mentioned.
0 votes
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