After renting for a few years here in the Hoboken area, you may decide it’s time to get “a place of your own.” You’re tired of putting your money into something that will never be yours. What you’d really like is a condo. That seems to be the happy compromise between the convenience of an apartment and ownership.
Planning is important for the transition from renting to owning. A vital first step is keeping a clean credit record. This will ensure that you obtain the best mortgage interest rates. You should know what your credit score is. If it’s low, start taking steps to raise it. Also, pre-approval for a mortgage loan can streamline the process.
Another important factor is saving enough money, not only for a down payment on your home, but for the extra expenses that invariably crop up when buying a condo or any other property. If you look online, you can find a lexicon, or glossary of terms used in the real estate/mortgage lending industry that will give you some insight into what some of those expenses are.
Before purchasing a condo, it is always wise to calculate just how much you can afford to pay for it. The previously mentioned lexicon can help you with that, also. This way, you can avoid the waste of time it takes to look at grand places, then pare down to what you can actually afford. It’s okay to dream, but once you start looking you should be grounded in reality.
Naturally, the key element in buying the right condo for the right price is your real estate agent. Let me be that agent. I can take you from the first glimpse of your new home to the closing in an efficient and pleasant manner. You’ll love living in your new condo!
Call me if I can be of any help!
Eddie