Rent vs Buy

Timing the transition:
from renting to buying.

Most people that own a home have rented at one time or another. Eventually, though, most renters make the move to home ownership. That move takes thought. For some, the decision is financial - for others it's the desire to have a place of their own. What is it for you? It could be to have a place to raise a family, gain privacy or to change as you like - grow a garden or repaint just for the sake of new colors -without asking permission. It could be to improve your financial future.

Is it your time yet - even if you want it to be? If you have a lease and you plan to buy a home you should review the terms of the lease. Do you have to wait till the end of the lease term? To explain your rights your landlord should have given you a "Truth In Renting " booklet as required by the state of New Jersey. (If you live in New Jersey). Review that booklet for insight into your rights to end your lease or at the end of your lease period.

6 questions and some advice
for buying a home

1. What can you comfortably pay per month? How does it compare with your rent payment?
2. What payment do you qualify for with a lender?
3. Do you qualify for federal, state, county or city down payment assistance or grant programs?
4. Is your credit in order?
5. Do you have enough savings for downpayment and closing costs?
6. Have you prioritized a home wish list? What do you need? What do you want? And Where?
7. Contact a REALTOR that is an exclusive buyer broker to guide you through the process and act as your advocate. Some questions only you can answer, for others you will need help.

If you are not among those who will always rent you may find a starting point here.
Three things are critical.
(1) Finding a real estate broker with the experience, knowledge and competence to act as a true advocate to help you get what you want as efficiently and at the lowest cost possible.
(2) Arranging financing at the beginning to ensure that you are in the best possible bargaining position when the time to negotiate arrives.
(3) Mortgages are readily available to those with good credit - often with down payments as low as 3.5%. With mortgage rates still near historic lows, and home prices beginning to rise now is a great time to buy a home for those who are ready.

I've held a New Jersey real estate license since 1987 so I've been around long enough to have seen down markets and recovery before. I'm a licensed real estate broker. That means that I'm licensed by the state to employ and supervise other agents. I'm an Exclusive Buyer Broker and a member of the National Association of Exclusive Buyer Agents (NAEBA) which means that I do not represent sellers or engage in the common practice of 'dual agency'-- representing a buyer and seller in the same transaction.

I am available for free consultations (either group or private). At minimum, our meeting will give you enough information to know where to start.
Contact me soon!