First Time Buyers

Buying Your First Home – How to Wisely Take This Significant & Exciting Step

Congratulations! You've decided you're ready to buy your first home.

Buying a home is one of the largest and most important financial commitments you'll make in your lifetime. We know it's especially critical for first-time buyers to make informed decisions about this investment.

We've successfully helped thousands of first-time homebuyers make their dreams come true, and have developed a checklist from our experience to help make the process a little easier. We also created a website which details the tax credits currently available for first time homebuyers, www.hudsonvalleyfreemoney.com.  Of course, if you have additional questions or concerns, don't hesitate to ask your Coldwell Banker Village Green REALTOR® for advice.

Check Your Credit Rating

"Mortgage approval is critical and a very easy process," says Joan Lonergan, Broker Owner of Coldwell Banker Village Green Realty. "With our Mortgage Approval Process, you can be approved with just one phone call - from either your REALTOR®'s office or anywhere else. As an interested buyer, if you have a pre-approval for a mortgage in hand, it strengthens your position during negotiations with a seller. This is particularly important in the Hudson Valley, which is a highly competitive, fast-moving marketplace."

Investigate the Neighborhood

Where are the schools and places of worship? How far is the nearest hospital or grocery store? Is commercial garbage collection or recycling pick-up available, or will you be responsible for disposal of your own trash? These are basic, yet very important questions that you will want to explore before you close on your new home.

Be an Informed Buyer

Some neighborhoods have deed restrictions such as exterior maintenance, lawn care or fencing. "All too often, buyers are unaware of these restrictions and how they apply to their property until it's too late," says Joan. "Ask your REALTOR® to tell you about any restrictions that may be in place in neighborhoods where you would like to live."

Insist on a Home Inspection

Attend all property inspections, be aware of any environmental concerns and don't be shy about asking questions. A small investment of time and money will save you a lot of headaches down the road.

Look for a Property with a Home Warranty

A comprehensive insured Home Warranty benefits and protects both homebuyers and sellers by decreasing the likelihood of a sale falling through due to unexpected surprises. The Coldwell Banker Village Green Realty Home Protection Plan covers a house for the entire time it is listed on the market. This Home Warranty is a special kind of insurance that covers the cost of repairing or replacing appliances and mechanical systems in a house. For a modest fee – paid either by the buyer or seller – the Coldwell Banker Village Green Realty Home Protection Plan can be easily extended for the year following home purchase, a time when new owners often do not have a lot of available cash for unexpected repairs and replacements.

Don't Rush!

"We know you're excited about the idea of moving into your new home. You may even be worried about future hikes in interest rates and feel pressure to move quickly. But," Joan advises, "don't hurry the decision-making process and overlook property flaws. Purchasing a home is an important investment. You need to thoroughly think through the process and do your homework to avoid making choices or snap decisions you will regret in the future."

Your Coldwell Banker Village Green REALTOR® will be happy to help guide you through the process of buying your first home. Please call or email today to schedule an appointment.