Top Home Buying Fears For First Time Home Buyers

Here are the top home buying fears when buying a home in Nutley

Home Buying Fears1. Is a home really a good investment, what happens if there is a financial crisis?

Unlike the stock market selling a home is not like selling a share of stock it just does not happen that fast and during a financial crisis home owners don’t usually tend to usually panic selling it does not set into the Real Estate market in Nutley or anywhere for that matter, over the last 100 years Real Estate in the country has gone up and down its usually a 17-20 year cycle the one good thing about home ownership is that everyone needs a roof over their heads whether it’s a bad economy or good economy.

2. I don’t know what to buy? there are so many different choices out there

Well now that depends on your lifestyle, are you a single person that is bust with their career and social life? then a nice townhouse in Cambridge Heights in Nutley may be what you need, low maintenance, gated community with Gym, Pool and Tennis Courts or maybe you have a family already and a nice 3 Bedroom 2 Bath home in the Spring Garden section of town may be what you want either way we are your trusted source as a Realtor office we can guide you consult with you and help you find the perfect home.

3. How do I know if I qualify for a mortgage?

Mortgages in Nutley

That is rather simple we work with qualified mortgage companies that can review your finances and determine what would be the best mortgage for you and also it well help you decide how much of a home you can afford, we work closely with your mortgage rep to help you find tat perfect home within that perfect budget, your mortgage person can also help and qualify condo complexes as well to make sure they are financially stable. The best part is we can sit down with you and your mortgage person and pre-qualify you all for FREE.

4. How do I come up with a down payment for my new home in Nutley?

There are some many different mortgage payments out there from VA no down payment loans, USDA loans which are for rural areas and also 100% financing, there there are FHA Loans, Conventional Loans, Adjustable Rate loans and more, the best thing to do is sit down with your mortgage person and have them explain all the different programs, my advice would be to do a 20% down conventional loan, now  you can get the money as a gift from a relative you can save it and you can also ask for a concession when you put an offer on a home as well.

5. What happens if  I sign a contract and then change my mind?

Initially you have 3 days to change your mind, you can also direct your attorney to kill the deal during attorney review at that point you are not Under Contract, there are a lot of safety nets when buying a home these days, Attorney Review, Home Inspections, Appraisals, etc. so you don’t need to be fearful when you purchase a home you should have a team of trusted advisors Realtor, Attorney & Mortgage person helping you every step of the way.

6. What about home repairs? I know nothing about taking care of a home

Home Warranty

Quite frankly you learn! you are now a home owner and now you have to learn some basic maintenance tips, of course there will be times when you have to call in a professional from Plumbers to Painters and your local Realtor is a great resource. I also recommend to my first time home buyers that they should purchase a home warranty as well at least for the first year to learn about your new home.

7. What if the home I buy is too expensive for me?

That should not happen your mortgage company will not give you a loan if it is going to be more than you can afford, the loans of today are not like the loans pre 2008, the banks are now very tight with their lending practices these days, of course they may be other circumstances that may make the home unaffordable any longer, like a job loss, change of income etc. but we help many home owners that get stuck and we help them work with the bank to short sale the home as well you do have options if that does happen.

Matthew De Fede Broker/Owner of Realty Executives Elite Homes in Nutley


Open House Sunday 12-3pm 85 Brookline Ave. Nutley


Buying A Condo in Nutley NJ

5 Buyer Incentives That Can Help You Sell Your Home Faster in Nutley

Happy Mixed Race Couple in Front of Sold Home For Sale Real Estate Sign and House.

Your home in Nutley is finally on the market and its time to begin the selling process. Now that it its listed, attracting the attention of genuine buyers should be your next important focus. Closing this deal in the least amount of time possible will give you a greater ability to coordinate the purchase of a new home in Nutley. Allowing you to consider optimal tax benefits or make other important financial decisions. Fortunately, there are a number of buyer incentives that you can supply to help make buyers take immediate action.

Tack On A Few Extras

Sellers in Ntley  are commonly advised to depersonalize their spaces as much as possible before showing them. Staging a home correctly however, requires a few decorative elements. Take note when prospective buyers show a special interest in any window treatments, furnishings or outdoor features that you have no intention of taking with you. Add-ons like these will “sweeten the deal”, irrespective of their actual value. People like feeling as though they’re getting something of value for free.  READ MORE about selling your home in Nutley

Open Houses in Nutley & Caldwell NJ

I’m holding 2 great open houses today from 12-4pm, 198 Lakeside Dr. in Nutley & 72 Forest Ave. in Caldwell NJ





5 Reasons to Hire a Nutley Real Estate Professional

Nutley Realtor

Whether you are buying or selling a home in Nutley, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover. 

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.

4. What is the home you’re buying/selling in Nutley really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS“the typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.” Get the most out of your transaction by hiring a professional. 

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line:

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of your most important financial decisions of your life without hiring a Nutley Real Estate Professional?

Related Blogs

    4 Reasons to Buy A Home in Nutley Before Winter

    Buying A Home in Nutley

    It’s that time of year, the seasons are changing and with them bring thoughts of the upcoming holidays, family get togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy a home in Nutley don’t have to look much farther to find four great reasons to consider buying a home now, instead of waiting.

    1. Prices Will Continue to Rise

    The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values in Nutley over the next five years to be between 11.2% (most pessimistic) and 27.8% (most optimistic).

    The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

    2. Mortgage Interest Rates Are Projected to Increase

    Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year.

    An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 

    3. Either Way You are Paying a Mortgage

    As a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

    4. It’s Time to Move On with Your Life

    The ‘cost’ of a home in Nutley is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

    Bottom Line

    If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

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