First time home buyer

thomscric83 · Post by **thomscric83** » Tue Mar 16, 2010 12:33 pm

If you are in process of buying a home and wanted some idea's to find homes
or apartments ,let me suggest you to pick up a location first. Then find and
agents who is trustworthy, reliable and knowledgeable. Referrals are a great
method to get right agent.Find motivated sellers. They may be too bad to loose.
Search newspaper classified advertising to buy property, home.

gwldaddu · Post by **gwldaddu** » Thu Mar 25, 2010 11:50 pm

layman;256691I have a big grudge against these garages. To me, the prime area in a house is the front portion. In modern houses, the garage occupies that prime area . Just a small side room doesn't cut it. Rooms above garage is not that cool either.

I am with you. I hate the garages at the front :-) But then thats how it is. There are homes with side garages, but they are costly.

Still miss parking car in open shade in India. Just one car, one big family.. Big fun...

jitendrasnv · Post by **jitendrasnv** » Thu May 27, 2010 12:50 pm

HI,

As you are the first time home buyer then you should be aware of the following things:

To buy house one has to go for investment of huge amount as properties cost much, the budget must be planned before making any decision to buy homes.

It is important to select the desired location and hire real estate agents for searching homes,

Hiring a agent can save lot of time and can help in the documentation while dealings.

Thanks

ssjohn · Post by **ssjohn** » Fri Sep 03, 2010 8:40 am

As you are the first time home buyer, So I can suggest some useful tips.

First of all you can check the selling prices of comparable homes in your area then find out what your total monthly housing cost would be, including taxes and homeowners insurance.You can contact good real estate because good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters.

Lakshya · Post by **Lakshya** » Fri Apr 29, 2011 9:40 pm

Ok guys, finally thinking of buying house by next year in Central NJ.

House owner whats your advice to me? Good/bad/ugly time to buy? What should I avoid? Whats should I look for?

vsudhu · Post by **vsudhu** » Fri Apr 29, 2011 9:54 pm

Lakshya;385620Ok guys, finally thinking of buying house by next year in Central NJ.

House owner whats your advice to me? Good/bad/ugly time to buy? What should I avoid? Whats should I look for?

First of, Congratulations.

Buy it in a good school district. 5 year old homes are a good buy in terms of value. Some houses may have plenty of additional options , but it may not get you the return when you sell. Plan for stay in the house for at least 5 -10 years.

Make a list of must have / desirable things that you need in a house. That helps in the search.

rajubiztech · Post by **rajubiztech** » Fri Apr 29, 2011 10:10 pm

Lakshya;385620Ok guys, finally thinking of buying house by next year in Central NJ.

House owner whats your advice to me? Good/bad/ugly time to buy? What should I avoid? Whats should I look for?

Its probabily good time to buy with low house prices and interest rates. I believe picking a location(school district,family freindly,accessibilty etc) is important. Do some research(houses sold in that community for the last 6 months are so) about houses,builder etc..

Lakshya · Post by **Lakshya** » Fri Apr 29, 2011 10:16 pm

vsudhu;385625First of, Congratulations.

Buy it in a good school district. 5 year old homes are a good buy in terms of value. Some houses may have plenty of additional options , but it may not get you the return when you sell. Plan for stay in the house for at least 5 -10 years.

Make a list of must have / desirable things that you need in a house. That helps in the search.

Thanks V, Actually I like the town where I live. (2 close relative live near by & town is full of desi.) Only concern is obamas relatives (working class not on welfare) has some presence in town. Its not typical country side area like what we find in south NJ. Town High school is not so great. But kid is in 1st grade, so long time to go. Debating between full size house (typical 70-80s home) or go for town home. 5 years old full size home in NJ will cost you 500k+ ( I could be wrong). But don’t want to spend that kind of money.

Let see….

rabtag · Post by **rabtag** » Sat Apr 30, 2011 2:09 am

Lakshya;385629Town High school is not so great. But kid is in 1st grade, so long time to go.

Lakshya, time flies and kids grow up fast :). If I were you, I would buy a smaller house in a better school district over a bigger one in average school district. As you know, everything sells for what its worth (except when markets are parabolic :) ) and as they say in real estate the three important things are location, location and location. These houses have better liquidity, tend to hold their value better and are the first ones to bounce back after the correction. My friends tell me that the house prices in Central Jersey good school districts didn't fall as much as the rest of the country. It is also easy to sell when you decide to move up to a bigger house :)

Congratulations and good luck!!

ahirman · Post by **ahirman** » Sat Apr 30, 2011 2:32 am

I agree with Rabtag. Plan ahead. With kid in 1st grade its not the time to think about short term choices.

My advise would be to go for a <10 years old SFH in a good school district. The house will preserve your equity better than other choices and will help you plan ahead for long term. You may have to pay more but frankly it will be always be so for such choice. You can pay more money upfront and get a better rate which will work for you if you plan to live in the place for next 10-12 years. That will reduce your monthly mortage payments that in turn will help you to buy a bigger property.

All the best.