Before Looking

Before you actively look at homes, it's necessary to know how much you can qualify for. Use mortgage calculators to determine how much you can buy with your down payment and closing cost money and what your monthly payments will be.

Know Your Credit Worthy

Look at your credit report before you go to a lender. It is not uncommon to find problems with reports, especially if you have a common last name. To get copies of your credit report, start at My FICO Score.

Get Pre-Approved

After you see your credit report and any problems are cleared up, get pre-approved with a lender. Take the steps necessary to get a letter from the lender stating you are "pre-approved" for a loan in specific price range. It's important to have this letter before you make a contract offer to buy real estate. Once your pre-approved, you know what price range of homes you should be looking at.

What Kind of House Is Right?

Determine the specifics you want or need in a home.

-What are your day-to-day and future needs?

-Do you enjoy swinging a hammer?

-Older houses have great charm, but may need updating.

-New homes offer the latest energy efficiency and design features.

-Larger lots can give room for additions and swimming pools.

-A fixer upper can dramatically increase in worth.

-A PUD may have private recreational facilities such as a pool and play parks.

-A condo or townhouse will relieve you of yard work and exterior maintenance.

Sit down with your Real Estate Agent and make up a wants and needs list. Knowing your price range, your agent can determine in what neighborhoods and what homes to start looking for. You may find that you are limited to where you look and what types of homes you look at based on your situation.

There is no sense in wasting time in areas or homes out of your price range.

Wants and Needs

-Price range

-Building style/Design

-New Construction

-Remodeled

-Fixer Upper

-Minimum # of bedrooms

-# Of Bathrooms

-Family Room

-Fireplace

-Office/Den

-Hardwood Floors

-Swimming Pool/Spa

-In-Law Quarters

-Workshop

-Central air conditioning

-Parking facilities

-Yard size

-School District

-Work Location

-Special zoning or location

With a list of houses that you can afford to buy, drive-by them, and check out the surrounding neighborhood. Make sure you like the outside of the house first. Next make an appointment with your Real Estate Agent to view the interior of the ones you are interested in. After you have narrowed your selection to few houses you will want to preview some a second time. This is the time to make measurements, ask questions and make a closer self-inspection. Once you have decided you want the house make a fair and honest offer. Then awate a counter offer from the seller. There is no sense in making a very low offer on a well priced home, that will only result in another buyer getting the house you wanted before you even get the chance to raise your first offer.

Use a Professional Real Estate

Make sure they are famillar with the area your looking to buy property in.
Go over with them all your wants and needs. Your price range and your down payment information.
And have them show you all the listings that fit your criteria.

If your looking for a property in Queens, feel free to give me a call or send me an e-mail.
I would be happy to help you find a home:

Steven Pacchiano

StevenPacchiano@aim.com

718-757-1951