Are you moving to New Jersey anytime soon? If you are, congratulations! New Jersey is a great place to call home. No matter what your reason for moving to New Jersey may be – love, family, or job, be sure you have made the right choice. This city treats its residents well. Once you move here, you will get to enjoy an excellent economy, reasonable prices, fantastic weather, top-notch health and education systems, and of course, plenty of things you can do on your days off. However, if you are moving to New Jersey for good, or at least for a more extended period of time, you are probably interested in the city’s real estate. Fear not, there are plenty of homes to choose from here – from secluded single-family homes to urban apartment lofts downtown. And, if you need a guide to buying a house in New Jersey, we are also here to help you out!
Know What You Are Looking For
New Jersey has one of the hottest housing markets in the United States. But, before you can take advantage of that, be sure to know what you are looking for. It would be a good idea to start making your list of ‘musts’ and ‘can’ts’ ahead of time. For example, decide what type of a home is a must for you and what is not even an option. Then, decide on the neighborhood you want to live in, the necessary amenities for your future life, etc.
As we live in the age of the Internet – a place where you can find almost any information, researching all you need to know will be a piece of cake. You do not have to be an expert to do some market research. And by gathering all the essential information before you start looking for a home, you will save a lot of time, energy, and money.
Find the Right People for the Job
You should also find the right people to help you with this ‘project’ before you start looking for a home. Trust us; they will help you make the right decision and ensure that you invest your money well. So, start by finding a local real estate agent. A local, professional, and experienced real estate agent is the only one who can help you find your dream home in New Jersey, a home that suits your needs and your budget. Then, look for a financial advisor and a home inspector, as without them, you may risk a lot.
At this point, you should also consider looking for movers to help you relocate. Consider all the services they offer, which you will need, how many of them you can afford. For example, will you pack your belongings yourself or let professionals handle that. Also, compare the prices of a few moving companies and make sure you check some reviews. The sooner you find the optimal solution for your relocation, the more discounts you will get, and thus, the cheaper your relocation will be. Do not wait for the last minute to hire people you need help with – the good ones are always booked even months ahead of time.
Decide on Your Budget
Buying a house in New Jersey will be one of the most significant investments of your life; there is no doubt about that! So, before you start house hunting, calculate how much you can afford. Of course, if you have some savings, that would be great. But, if you do not, you will have to explore your money opinions. As previously mentioned, hire a financial advisor and ask them for advice. A financial advisor will look at your financial status and tell you exactly how much you can afford.
Moreover, a financial advisor will also guide you through all the banking documentation and the process of getting a home loan. Do not take this process lightly – getting pre-approved for a mortgage or some other home loan is a process that can last for months, so start on time!
Go as Virtual as You Can!
Unfortunately, as the whole world is facing the coronavirus situation, all of us are also forced to lead our lives differently. Staying home, social distancing, etc., are just some of the things that have become necessary to stay safe. That means that the house-hunting in New Jersey is going to be a little different. Namely, you will not be able to attend open house events, meet the sellers, talk to your helpers and advisors as much as you would want to.
But do not worry, buying a house in New Jersey is still possible. You just have to make this process as virtual as you can. That means that you will talk to your real estate agent, financial advisors, inspectors, movers, contractors, etc., mainly over the phone. Moreover, all the house-showings and similar ‘meetings’ will be held online. The seller will probably give you a virtual tour over their phone. And, instead of signing all the papers in person, you will have to turn to virtual signing.
Make an Offer and Complete the Sale
Finally, when you find a house in New Jersey, all that is left is to make an offer and hope that the seller will accept it. But, before you make the offer, be sure to get that home checked by the home inspector to avoid all those unpleasant surprises later on. Do one final walkthrough, and if you are 100% sure that this is your dream home and that you are satisfied with the construction of the house, make an offer.
Together with your real state agent, you will have to sign the Closing Disclosure. Read it thoroughly before you sign anything. This Closing Disclosure will contain all the details of the sale as well as the agreed-on amount of money you will have to pay – things like down payments, closing costs, mortgage notes, etc.
Once you have closed the sale, call those contractors and movers, and relocate to your new home. Hopefully, this guide to buying a house in New Jersey has made everything a bit easier. Good luck.