What Steps Do You Need to Take to Buy a Home in 2018?

Hoboken Real Estate Podcast with Brett Sikora

In order to purchase a home in 2018 and take advantage of the spring market, there are eight steps you need to take now.

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If you’re thinking about buying a home in 2018, now is the time to get your ducks in a row so you can take advantage of the spring market once it hits. There are eight steps you need to take to prepare yourself:
1. Check your credit score. We have lenders who can help you, and there are also many online credit companies that can guide you.
2. Don’t open any new credit cards or lines of credit.
3. Source your down payment and check with your Realtor or a lender before depositing a big chunk of money into your bank account.
4. Start interviewing real estate agents. Not every Realtor is alike. There are a lot who do a lot of business and lot who only do a little business, so make sure you’re set up with the right one so you don’t end up in a bad situation halfway through the transaction.

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Taking these steps will have you prepared to buy the home you want in 2018.

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5. Keep tabs on interest rates. Sometimes they’re high and sometimes they’re low, but they have been hovering right around that 4% mark.
6. Find a mortgage lender. We can help refer you to certain people we know and trust and who are local and in tune with our market.
7. Get pre-approved. This is an important start to the whole process and it will let you know where you stand as far as what you can purchase and what your payments will be.
8. Start viewing properties. It can take as long as three or four months to find the right property. Once we find a property for our clients, it takes an average of 45 to 60 days to get to closing, so keep that in mind.
If you want to close on a home in May or June, you need to take some of these steps and get some of this stuff out of the way so you’ll be right on track when your lease is up or you’re ready to put your current home on the market.
If you have any more questions about buying a home in 2018 or you’re curious about our North Jersey real estate market, don’t hesitate to reach out to me. I’d be glad to help you.