Tips for First Time Home Purchasers in New York

Prepared to become a first-time home purchaser in New York? Entering what seems like a “lion’s den” can be overwhelming, but not if you’re prepared for what to expect.

Use All Resources

Of course you’re going to be conducting research on your own prior to becoming a home purchaser in New York.  Did you know that the federal Department of Housing and Urban Development provides you with access to free pre-purchase home counseling near you? Call 1-800-569-4287to take advantage of this opportunity.

Likewise, get an attorney to review all your loan documents and contracts before you sign them.  Don’t feel pressured that you have to sign anything without getting an attorney to review it, since a business should always give you ample time to review all documents before becoming a home purchaser in New York.

Protect yourself with an independent inspection of the home.  You want this to be included in the contract, outlining that you have the option to choose your own individual to inspect the house and to ultimately cancel the contract if you are not happy with the outcome of the inspection.  Wanting to finalize your plans for your dream home doesn’t mean that you should rush through becoming a purchaser in New York, because you are in the driver’s seat.  Make sure that you have covered all your bases, used your available resources, and feel confident about your own decision before moving forward with the purchase.

Make sure you also shop around for all the mortgage terms that you may qualify for.  This can help save you a lot of money, and the home seller should not require that you work with a particular bank in order to become the purchaser in New York.