Nadel & Ciarlo, P.C.

What should you do before you buy a house?

If you're making your first home purchase in New York, you want to make sure you do it right. You need to protect yourself and make sure you're not taken advantage of.

What are some ways you can do that? It comes down to several important steps. For instance, viewing just one apartment or home isn't enough. You need to look around and give yourself time to decide if the home is right for you.

Another important tip is to avoid having too little saved to be taken seriously. In New York, many homes sit at the $1 million mark. As such, you should have around $200,000 in the bank to get taken seriously. This doesn't include closing costs, so make sure you have plenty of money prepared.

Don't forget about the fees. Fees pile up quickly during the buying process. You have fees for inspections (which you should never skip) as well as for appraisals, attorneys and other expenses.

It's always a good idea to get a preapproval before you buy a home as well. Having a preapproval guarantees that you have enough support to buy the home and to negotiate. If you can't get enough initially, it's a wise choice to work on your credit score. Credit scores approaching 850 have the best impact on the ability to obtain a mortgage with a lower interest rate.

These are a few tips to help you get the home of your dreams. Be prepared with the right knowledge, and you'll have a better chance of getting the home you want.

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