4 Tips To Jump-Start Your Home Search
Searching for a home in Brooklyn or the New York metro area is work but not rocket-science. There are a few things new homebuyers may not know. Below are 4 basics to help you jump-start your search for a new home.
Get your financial house in order - Get yourself pre-approved for a mortgage. Being pre-approved automatically helps you set your search parameters by letting you know how much house you can afford. In today’s fast-paced market, when you see a home you love, you’re going to want to put an offer in right away. Interviewing multiple mortgage brokers/lenders is an important step. This is likely the largest purchase you’ll have made in life – so far. You want and need a knowledgeable broker who has access to the newest and best available mortgage products. You’ll want to be c want to be comfortable enough with the broker to ask and answer some occasionally difficult questions. The other thing: Serious sellers only respect written offers that include a recent pre-approval from a bank or proof of funds if yours is a cash offer. You’ll want to have these documents on hand and ready to go before you start looking.
Get yourself a BUYERS BROKER - You want someone with unique knowledge of the neighborhoods you’re interested in. Find a broker who lives and works in the community – they’ll know it better than anyone else and will likely have access to off-market or pocket listings. A buyers broker will help you navigate an often complex process while protecting your interest. The seller typically pays the agents’ commission- a fee that comes directly from the purchase of the home – so bottom line, you’re paying for it anyway – you may as well have someone solely interested in representing your interests.
“These are the people in your neighborhood” (in my Sesame Street voice) – It’s not just about the house, if you’re exploring areas outside of where you currently live, you will want to take time to get to know the neighborhood. If you really want to know who your potential neighbors might be, I suggest making plans for dinner or brunch at the various places of interest in the neighborhood. Take a walk in the area during the morning and/or evening rush hours – it’ll give you a feel for the folks coming and going in your new hood!
Prioritize your needs and make sure their realistic. Don’t miss out on a great opportunity because of narrow search parameters. Stay flexible. A great realtor is going to make suggestions you may not have thought of. Be willing to have a look – you may just find a diamond.
I hope these tips help you get started on your home search and target your efforts.