Entertainment Magazine: Real Estate: Home Buying Tips

Top things to consider when buying a home

Exclusive Buyer’s Agent Provides Helpful Tips for Homebuyers

From Real Estate Entertainment Magazine

Where do home buyers begin the process of buying a home?

Home buyers must keep in mind that they can have control of the process- without the process controlling them. A home is often the biggest purchase in a lifetime, and any mistakes made during the home buying process can be costly

New York State is a “buyer beware” state, which means that when a home buyer works with a traditional seller's agent, the buyer is responsible for verifying information presented about any property of interest.

Gary Herbst, an exclusive buyer’s agent and principal broker of Buyer’s Edge Realty in Tarrytown, recommends these key considerations:

What to consider when buying your house

1. Create a needs and wish list for your new home. What are some of the things you are must have in a home and its neighborhood? Is there a certain style or age range of a home you especially like? What are some of the things you would like to have but can also forego? Do you want to live near a train station for easy access to commuting?

2. Examine the neighborhood of the home you are considering. Make sure that there are no imminent plans for commercial construction or other non-conforming adverse development that might compromise the value of the area and property.

3. Ask questions. Verify the yearly property taxes. Ask about the school system. Find out if the neighborhood is safe.

4. Look around the inside and outside of the house. Keep an eye out for leaks or seepage; unusual settlement or sagging of floors; doors and windows that do not open or close property; non-working or few electrical outlets in older homes unusual odors; moisture problems; and overall age and appearance of the heating system.

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5. Double check that the information reported on the MLS (Multiple Listing Service) sheet is accurate. Oftentimes, people don’t read the “small print.” On an MLS sheet, that small print reads, “Data believed accurate but not warranted. All data subject to verification.”

6. Be sure that a professional home inspector or licensed engineer inspects the home and accompanies the inspector. An inspector will seek out and identify any potential and existing problems that might arise with the plumbing, heating, air conditioning, electrical systems, roof, foundation/structural, walls, windows, drainage or ventilation. He will also check for any safety or health-related problems and code violations. If the home has a well, septic system or a buried oil tank, those should also undergo testing. A radon test is also advised.

7. Examine room size, floor plan, and adequacy of closets/storage. Think about where your family gathers most often. Is it the kitchen? The family room? Be sure that the space can accommodate all of the traffic that will flow through it.

8. Secure a mortgage prequalification or mortgage pre-approval in order to determine how much a bank or lending institution will lend. This number is based on income, credit, assets, employment history, and other criteria. In order to determine whether the amount is feasible based on lifestyle, find out how much the monthly payment will be for the maximum amount received.

9. Ensure that the amount chosen for a down payment will leave enough for closing costs, emergencies or other expenses.

10. Be certain to hire someone to help you along the way. Remember that companies which list homes for sale represent the seller’s interests by law, not those of the buyer. Seek out an exclusive buyer’s agency, which will work 100% on the homebuyer’s behalf to find the best home. This includes evaluating property conditions, verifying property taxes, square footage, estimating fair market value, disclosing what is right and wrong with any property of interest and helping you negotiate price and terms – all while keeping your interests confidential.

About Buyer’s Edge Realty: Buyer’s Edge Realty, based in Tarrytown, N.Y., is an exclusive buyer’s agency – a real estate company dedicated solely to representing Westchester County, NY home buyers. Buyer’s Edge Realty does not list properties for sale, ensuring that only the interests of buyers are fully represented- never sellers- on any property. Buyer’s Edge Realty is compensated like any real estate company- at the closing through the proceeds of the transaction- so there is usually no additional cost for their services. Please log onto www.buyersedgerealty.com.
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