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Archive for the ‘Investment Property’ Category

Avoid Mistakes When Buying A Condo

Tuesday, May 22nd, 2012

While you may be able to find tons of information about what to do pertaining to condo buying, there seems to be a dearth of information on what not to do. However, there are a number of pitfalls you, the buyer, need to avoid. Before you invest in any of the Jersey City apartments , here is a checklist of mistakes you need to refrain from committing.

1. Being ill informed about the real estate market. Without adequate homework, you won’t be able to get a good bargain on a property.

2. Going by market predictions – It is wise to base your choice on your requirements, budget, and not on market trends and predictions.

3. Choosing an improper location – Is it too noisy? Or crowded? Or dirty? Even if you have found a great apartment, it wouldn’t be a good choice if the location’s disadvantageous.

4. Going by the exterior – Well, it may look good from the outside, but what about the interiors. After all, you would live inside and not on the manicured lawn.

5. Overlooking functionality – Is the apartment suitable for your family? A perfect bachelor pad won’t be fit for a family.

6. Getting impressed with amenities – It is a mistake to opt for apartments New Jersey that offer a swimming pool if you are never going to have a soak. The fees you are paying for its maintenance would then be a complete waste.

7. Being impatient – Take time to examine condos, meet owners/managers and neighbors, check out the amenities and so on to find a suitable one.

It’s always a good idea to opt for a professional inspection if you are buying an old one. But why invest in something old when Crystal Point Condos are offering spacious tastefully decorated residences complete with varied facilities and services for buyers.

What To Know Before You Buy A New House

Saturday, May 12th, 2012

Collect all the necessary financial documents you will need to apply for a mortgage before you begin your search for the perfect piece of real estate. Ask your real estate broker for lender recommendations, and compare rates and terms to insure you receive the best possible mortgage option for your situation.

Be quick to make a written offer. Once you have found your ideal home, prepare a written offer. Work with your agent to arrive at a price that will give you a good chance of being accepted. Your agent will be very familiar with market values and will be able to guide you on what to offer. That being said, dont become too emotionally attached to a home. That way, if your offer is not accepted, it wont be too much of a disappointment.

Make sure that you understand all there is to being able to afford a home. The mortgage is only a part of the monthly bills that you will have to pay. You also have to remember home owners insurance, property taxes, utilities, and repairs. Be sure to know roughly how much that could come out to in order to know how much of a house you can afford.

Looking to purchase a short sale? Hire a realtor who specializes in them. Short sales can be tricky and the buying process can be long. A qualified realtor with specific experience in this area will know how they work. This will give you the best chance of getting your home at the price you want.

To make the best purchase decision when buying real estate you must consider what it will be like to live there for 10 or more years. Look at where the trend of the neighborhood is going and is the house laid out to hold a larger family if yours expands during that time.

When buying your next house, consider it a sound investment. In general, homes appreciate significantly over a five to ten year period of time. Even in a down economy this tends to hold true. Buy the best house you can afford, in the best neighborhood you can afford. Your future financial situation will improve because of your investment decision.