What First-Time Home Buyers Need to Know When Choosing Their Future Home in Syracuse
It is enticing to become a first-time homeowner. Perhaps you’d like to create an investment to sell when you retire or build generational wealth. The possibilities as a new homebuyer are endless.
Whatever your reasons for buying a house, you’ll have to go through quite a few steps before you can kick back and enjoy it. So that you’ll be ready to buy a home in no time, here are our top tips for first-time homebuyers in Syracuse, NY.
Getting to Know Syracuse, NY
Syracuse is often used as the punch line of a joke about weather. With over 120 inches of snow per year, central New Yorkers are certainly accustomed to snow.
Snow drifts and slushy water are not all that the region has to offer. Due to its affordability, Syracuse is a popular destination for families and retirees. As well as its low prices, the region has plenty to offer young professionals.
Syracuse’s convenience is a major perk. In the city proper, you can reach desirable suburbs like Manlius, Baldwinsville and Liverpool in less than 20 minutes. Locals can easily drive to the Saratoga Racecourse in Saratoga Springs for a weekend getaway. New York City is also about four hours away. In addition, Syracuse is also situated in prime wine-drinking territory, where locals can sample some of the best wines in the Finger Lakes region.
Home-Buying Tips for First Timers in Syracuse
Now that you’ve gotten to know the wonders of Syracuse, it’s time to figure out how you’ll buy your first home there. Here are some tips that will help you get started.
1. Come up with a budget
It’s crucial to establish your budget before you begin browsing. To get started, consult your bank’s loan officer. The bank will tell you how much it will lend you and at what interest rate. This figure does not necessarily reflect what you can afford for a home, but it will give you a good idea of how much you can spend.
2. Prepare a short list of your non-negotiables.
You must have certain non-negotiables in your future home, from the location, to the square footage, to the amenities. You can also use this information to help guide your realtor.
3. Choose a realtor who knows the area and the market well.
The experience of buying a home can be made or broken by your realtor. Try to get a realtor referral if you know where you want to live.
In addition to knowing the area well—a great way to save time—a good realtor will be able to listen and implement what you request. You can also get advice from an experienced realtor about loan officers and real estate attorneys, such as having a copy of a mortgage pre-approval letter to show sellers you’re serious.
4. Look at comparable houses and apartments in the area to get a sense of pricing.
You don’t have an excuse not to check what homes in the area you’re looking at have sold for recently with the help of real estate sites. You can use this information to determine what your starting offer should be when you decide to bid on your future home.
5. Find out what closing costs to expect from your realtor.
Closing costs, which do not include packing and moving costs, can vary widely. They typically include the cost of hiring a real estate lawyer to review your buyer-seller agreement, as well as a home appraiser to assess the property before the sale, which is usually the buyer’s responsibility.
A good investment in real estate in an excellent neighborhood like Syracuse is undeniable. However, don’t immediately buy a house without putting much thought into it.
You need to make an informed decision so that you can select the best first home for you. Using these Syracuse homebuying tips as a guide, you’re one step closer to achieving your goal.
We Can Help You with Your Agent Needs
Procopio Real Estate is more than just a real estate company. Using our knowledge, passion, and skills, we strive to exceed our clients’ expectations and, above all, to show we are genuinely interested in them.
We want to make your Syracuse, NY real estate transaction one to remember, whether you are a first-time home buyer or moving into another home. The buying or selling of a home should be one of the happiest moments of your life, and who you hire to work alongside you is key. If you have questions about the market or questions about buying, you know you can trust us.
Learn more about our services by calling us at 315-928-5394.