8 Tips For Finding Your New Home

By: G. M. Filisk

A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1.  Know thyself.

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2.  Research before you look.

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price.

3.  Get your finances in order.

Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4.  Set a moving timeline.

Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5.  Think long term.

Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6.  Work with a REALTOR®.

Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality.

7.  Be Realistic

It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues — like noise levels — that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8.  Limit the opinions you solicit.

It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

Greenwich, Connecticut

 

I am excited to announce that I have joined the Greenwich‬, ‪‎Connecticut‬ Multiple Listing Service (‪‎MLS‬). The Greenwich Multiple Listing Service is the premier source for real estate listings, local news, education‬ and town information throughout all areas of Greenwich.

Sitting along the Long Island Sound, the quiet community of Greenwich is an affluent town in ‪‎Fairfield‬ County, Connecticut. As of the 2012 census done by the Census Bureau, the town had a population of 62,256. Composed of seven small hamlets (including Bryam‬, Cos Cob‬, ‪‎Glenville‬, ‪‎Old Greenwich‬, ‪‎Pemberwick‬, ‪‎Riverside‬ and Greenwich), the ‪‎historic‬ homes and beautifully manicured gardens of Greenwich have made it a popular film‬ location for movies about small town America. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes by train from ‪‎Grand Central Terminal‬ in Manhattan‬. Over the years, many magazines have ranked Greenwich 1st on its list of the 100 Best Places to Live in the United States. The town is named after Greenwich, a borough of London‬ in the United Kingdom.

If you are interested in buying‬, ‪‎selling‬ or ‪‎renting‬ in Greenwich, let me put my real estate experience to work for you. My business philosophy is to focus on your satisfaction. My business is about service and I am not happy until you are happy. If you are a preparing‬ to sell, I will assist you in the prep stage and help you position your home to maximize your investment in the shortest amount of time. If you are a buyer, I will share in-depth knowledge of the area, recent sales‬ comparisons, market data, and strong negotiating skills. If you are a renter, I will find you a home that will best suit your needs and budget.

Thank you, Chris Maroc
Cell 914.215.2025 Office 203.322.2300
E-mail: chris.maroc@cbmoves.com
Facebook: ChristopherMarocRealtorColdwellBankerBrokerage
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BIG OR SMALL: WHICH SIZE HOME IS BEST FOR YOU?

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This can be a tricky question to answer. Partly because our needs change over the years and decades. After kids leave home, maybe smaller is better but prior to that, maybe a bigger home is what you’re seeking–room for the kids, dog, and tons of the kids’ sleepover friends.

The trends reflect our indecisiveness too. Sometimes McMansions are on the rise and then there’s the complete opposite: tiny, tiny homes. In fact, you can watch fascinating shows online about families of four with a couple of dogs moving into these tiny well-designed homes or homes on wheels.

While that small may be far too small, size is a big consideration. It’s also something you should think about before you go house-hunting for that perfect home.

Of course,while there are many personal reasons involved in choosing which size home is the best fit, there are also some very important considerations that can help you decide.

Here are few things to help you weigh your options.

The bigger the home, usually the higher the mortgage. You pay for what you get. It’s likely the mortgage payments will be more. However, a smaller home with more amenities is sometimes not that far off in price from a larger home that gives you a bit more square footage.

Think about if you are planning to stay in the home a long time. If so, getting a bit more square footage now might be better than having to move again in a short period of time when you may outgrow the home.

Decide how much home you’re willing to maintain. For instance, do you want the responsibility of a big back yard or do you want to have something in a planned development, such as a town home, where there is limited yard space to decorate and maintain. That reduced yard size can give you a lot more freedom and leave you with more money in your bank account as opposed to paying for landscaping maintenance.

Do you work from home or might you someday? This is really important these days as more and more people are working from home and setting up desk space on the dining room table is not optimal. If you think you might be working from home someday, look for a home that will have enough space for you to work, even it it’s just a screened-off nook somewhere in the house. No doubt, you’ll find a good use for the space, whether or not you actually work from home

If you want a bigger home but aren’t sure you can afford it, consider your options. Can you get a roommate? Increase your income? Decrease your debt? Or maybe you can wait a little bit longer and save more to get into the home you really want.

The important thing is to think about the size and style of home you want before you start your house-hunting. This will help you target homes that are most suitable for your needs. Be sure to consult with experts to get the best advice and find out how much home you can really afford.

If you are thinking of buying, selling or renting a home, please give me a call at 914-215-2025. Thanks, Chris