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.
What To Expect As A Buyer
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.
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....
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