Buy Your Dream Home With Confidence!
Purchasing a new home is an exciting process, but it is also one of the most stressful financial activities you will ever take on. We can make the process simpler and more enjoyable by taking on the vast majority of complex tasks involved and guiding you through the process in a way that makes it easier to understand and more likely to be successful.
We can help you from the beginning to the end of this process. Starting with analyzing and optimizing your credit, we take you through each step with years of experience to guide you with until we finally close the deal and move you into your new home.
It is best to start this process early to ensure that there is adequate time to prepare your finances and gain and understanding of your capabilities before your anticipated purchasing period. This will allow us to help you enter the complex maze of purchasing a home with an advantage over home buyers who are going into it blind.
Next time you begin thinking of purchasing a home in the Long Island area, call Mado Realty to experience a truly enjoyable home buying process.
Buyer Guide
House hunting should be an exciting process. It is a great investment, and one that can really benefit every aspect of your life. As exciting as the process should be, there are many technical parts of the home buying process that can cause stress and confusion. Whether you are a first-time home buyer, or you are a seasoned pro— unexpected twists happen in the process all the time. By understand the basic steps of home buying, and what to look out for, you’re giving yourself a leg up in finding your forever home.
At the top of the importance list when it comes to finding your perfect home is your budget. Though it is hard to not fantasize and imagine the possibilities of a limitless budget that is rarely the case for the average home buyer. The price of a home is dependent on a plethora of things.
Before you start the loan process, you’ll need an understanding of what your down payment will look like. The average loan requires you to put anywhere between 3% to 20% – in order to be approved though not all home loans require a down payment! It is recommended that your down payment is made at 20% of the home’s listing price. Aside from the down payment, you need to also take into consideration other upfront costs that are necessary to complete the home buying process.
Other costs include closing costs, inspection costs, prorated tax, and title fees. By taking all of the small costs and fees into consideration, and determining what, if any, you can put down will help you have a better understanding of what you can afford which will determine a lot as you move through the home buying process.
When you start the home buying process, you will quickly come to realize that you have a lot of options when it comes to home and seller type. To name a few, there’s new construction, foreclosures, homes for sale by owners. Each type of home will require a different process. For example, a new construction home will require you to work together with the general contractor to make sure your home is what you are needing and expecting.
Buying a foreclosed property can happen in many ways. One way is by buying the home at an auction. When going to an auction with the hopes of purchasing a foreclosed property, you’ll most likely be required to bring a percentage of your bid in order to show genuine interest. When buying a home from the homeowner you’ll still want to follow all the steps you would take if you were buying from a real estate agent, you also may need to be prepared for a longer negotiation process.
The home buying process doesn’t have to be a taunting one. By understanding your budget, while taking into consideration other fees and costs, and by understanding the variances in home buying processes you’ll be able to make a confident decision when buying. By enlisting the help of a real estate agent, you can make sure all your boxes are checked.