Buyers Guide

Purchasing Real Estate

The purchase of real estate is one of the most important transactions a person will ever make. The first step is pick out a specific areas to focus your search on. When looking at neighborhoods, check out the quality of schools, the average home prices, the major employers, and the nearby resources (fire station, library, grocery store, etc). After choosing the best area for your family, then it’s time to start taking more proactive steps.

Resources for Buyers

A real estate agent will be your major resource for help and information. The first step is to pick out specific areas to focus your search on. While many sites allow you to view the MLS, you will need an agent to actually tour the homes. Beyond simply finding you a home, your agent can often help you find a good source of financing.

Finance

Financing is a crucial step in the buying process. It’s important to be pre-approved for a mortgage before looking seriously at homes. Pre-approval means that you have been fully screened by the lender and approved for a loan; this can be a huge help when the time comes to make an offer. Most sellers will go with candidates that are pre-approved, since there’s less risk that the deal will fall through.

Real Estate Agents

Your real estate agent will also be critical when it comes to negotiating and making your offer. It’s usually preferable to avoid agents who are working with the home seller, since this can compromise your interests. The home buying process is long and involved, but with the right resources--namely, a good agent--it can be exciting and fun.

 

A Word from Liz:

Finding and purchasing a home that will meet your needs is a significant and stressful time, as this is one of the most important transactions you will ever make. Our goal is to make this transition as smooth as possible. We are experts in the Long Island market, and once we learn what it is that you’re looking for, finding your dream home is our goal.

 

Before you start looking for a home you should ask yourself a few questions:

 

  • Where do you want to live?
  • Are there particular neighborhoods or communities that you like?
  • What kind of house would you like (need)?
  • Are you looking for a particular style?
  • How many bedrooms and bathrooms do you want?
  • Do you want your Master bedroom on the first floor?
  • Is a home office a necessity?
  • Do you need a bonus room?
  • Do you entertain often?
  • Is a home suitable for entertaining something you’re looking for?
  • Do you want a yard, pool, gated or guard gated community?
  • What kind of condition should the house be in?
  • Have you researched neighborhoods, taxes and school districts?
  • Have you determined your price range or consulted a lender to determine the best price range?

 

 

ARE YOU PREAPPROVED?

 

This is an important step in the process. Even before you start viewing homes, it is a good idea to be preapproved by a trusted lender. You will want this conditional greenlight before you start seriously house hunting. The best time to get a mortgage preapproval is before you really start house hunting. Basically, when you think you’re ready to buy a house, but before you start spending lots of time viewing houses. Why would you want to fall in love with a home that is outside the price range you can realistically afford? And on the flip side, maybe you could afford more than you think!  Also, many home owners are more likely to select offers from potential buyers who are pre-approved, since there is less risk of a deal falling apart due to finances. If you do not have a lender you currently work with, we can refer you to trusted lenders we have worked with in the past. There are many different lenders, and it’s important to find one that has an appropriate program for you.

 

 

 

WE ARE ON YOUR TEAM.

During all phases of a purchase from the initial paperwork and promotion through the very last details of the closing, we personally attend to all of the details. As a result, the majority of our transactions come through referrals and repeat business.

 

Searching for your dream home can be a time-consuming experience. Working with us will make the process much more efficient!

 

 

The US Real Estate market has seen a huge housing boom between 1996 and 2006, with all 20 main cities seeing a spectacular rise in house prices, Los Angeles experiencing the biggest rise with an increase of 265.5%.

New homes saw a rise in 2015 by 14.6%, with nearly 501,000 units sold, a new record of sold housing units since 2008, compared to only 132,000 sold homes in Q1 2016.

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Cell: 516.592.1435
Contact
Elizabeth Barcia

Elizabeth Barcia

Licensed Real Estate Salesperson

Cell: 516.592.1435 Email: Elizabeth.Barcia@elliman.com