What To Expect As A Buyer

Dated: 06/01/2020

Views: 154

Image title

Last week, we shared what sellers can expect in today’s market. 

But procedures are changing for buyers as well. Whether you’re a first time home buyer or have moved several times, here are some Do's and Don'ts for those getting ready to buy this year!

DO: Meet with your mortgage lender

This has been standard protocol for a long time. So what’s different today? While mortgage rates remain low, requirements to get a loan may be shifting, especially if there have been changes in employment. Ask your lender:

  • How much you qualify for

  • How much of a down payment you need

  • What to expect before closing occurs

DON'T: Neglect virtual tours

It’s tempting to see listing photos and schedule back-to-back showings for several properties. But real estate agents are setting up virtual tours and open houses to benefit you! When you have the opportunity to ask the agent questions, virtual offerings provide you with many of the answers you are looking for. This allows you to eliminate properties that don’t fit your needs, saving those in-person showings for homes at the very top of your list. 

DO: Follow safety protocol

Of course, when you do enter a property, there is safety protocol that must be followed. This includes wearing a face mask, keeping social distance, and keeping your hands off as many surfaces as possible. 

DON'T: Expect prices to drop

We’ve had questions about the value of homes. With low inventory leading up to the health crisis, combined with serious buyers, prices have remained steady over the past couple of months. We can’t predict the future, but as the market starts to pick back up, we don’t expect there to be drastic changes in sales prices. 

DO: Be prepared to act quickly

Again, the combination of low inventory and active buyers means that properties are starting to move. If you find your dream property, don’t waste time putting in an offer. Chances are, there’s another buyer looking for the same things as you!

Are you ready to begin your home search? We’d love to help! Contact us here

Blog author image

Jill K Biggs

Jill Biggs leads the top-producing real estate team in Hudson County, N.J., a booming market located just outside of New York City. With more than a decade of experience serving Hoboken, Jersey City a....

Want to Advertise on this Site?

Latest Blog Posts

Guide To Historic Downtown Jersey City

With beautiful brownstone, pre-Civil war housing combined with one of the fastest developing apartments and office buildings all nestled together, Jersey City is an incredible place to live.

Read More

Renting Vs Buying

To rent, or to buy? A common question that can be confusing and downright daunting. There are plenty of arguments out there that could influence your decision. But first, it’s important to ask

Read More

Design A Home Office That Actually Works

With nearly half the U.S workforce working from home, many of us have a common issue: how to transform their current living space into a functional home office. The good news is that you can

Read More

Virtual Open Houses Thursday June 18 And Friday June 19

JOIN US!VIRTUAL Open Houses Thursday, June 18 1500 Hudson #5iHoboken, NJ Thursday, June 18  11:00-11:30AMClick here to sign up: us02web.zoom.us/webinar/register

Read More