Helping First-Time Homebuyers Navigate Rochester, NY Real Estate
Tips and tricks to help as you tour homes for sale
Home buying is a stressful process, whether you’re on your fourth home or your first. However, the process is even more daunting for first-time homebuyers. It’s challenging to navigate a market you may never have needed to before. If you’re a first-time homebuyer diving into the housing market, let Wegman Companies, Inc. help. New homes for sale in our Rochester, NY housing communities range significantly in price depending on size, location, and upgrades. You’ll have much to account for as you begin your search. Our team is here to help you sort through your options with our top tips for first-time buyers looking to break into the housing communities market.
1. Decide how much house you can afford
Finances are often the top concern for first-time homebuyers in Rochester, NY, and for good reason. Your first home is a significant investment, and it’s important to avoid wasting your hard-earned money. Fortunately, there are plenty of online mortgage calculators that can give you an estimate on what you’ll be able to afford with your income. Generally speaking, experts recommend that your monthly housing costs land somewhere between 25% and 33% of your monthly net pay. Once you know how much you can afford, you should get pre-qualified for a loan. This step shows sellers you’re serious about purchasing a new home for sale.
2. Write down your wish list for new homes for sale
As you embark on your home search, start with an idea of what you’re looking for. Many first-time homebuyers are interested in single-family homes that offer enough space for children and pets. However, for single homebuyers, amenities may outrank space in importance. You’ll need to decide whether or not you want a yard or garage and how many bedrooms and bathrooms you’ll need. Other considerations when browsing housing communities in Rochester, NY include:
- Square footage
- Storage space
- Furnished vs. unfurnished
- Entertainment space
Once you’ve developed a wish list, you can peruse the Rochester, NY housing market more efficiently. You’ll be able to quickly eliminate the homes that don’t meet your requirements and narrow down your options. Ask Wegman Companies, Inc. about more features and amenities you should look for when searching for homes for sale.
3. Read up on the neighborhood of your ideal home
Some first-time homebuyers know exactly which neighborhood they want to live in, while others prefer to keep their options open. If you’re planning on moving to a new area, make sure you do your research. Nothing’s worse than moving into your new home and realizing the neighborhood you’ve chosen isn’t ideal. When looking into the communities you’re interested in, be sure to check out crime rates in comparison to similarly-sized areas. In addition, you’ll want to look at what establishments are within walking distance or a quick drive. Wegman Companies, Inc. advises that you check for nearby schools, hospitals, grocery stores, restaurants, and any other places you visit regularly. You’ll also want to map your commute to and from work to gain an understanding of routes, extent of traffic, and drive time.
4. Be thorough about your budget
Searching housing communities in Rochester, NY is exciting for first-time homebuyers. However, it’s crucial that you don’t let your excitement take precedence over your budget. Wegman Companies, Inc. wants you to choose a home you love that doesn’t break the bank. Only look at homes you can afford, and make sure to budget for additional costs you’ll incur during and after the search process. Make sure to budget for the following when deciding to purchase a home for sale:
- Closing costs: These rates usually run at 2% to 5% of your loan total and can definitely put a dent in your budget. Being prepared for these costs from the get-go saves you a headache later. However, you may be able to ask the seller to help pay off closing costs.
- Bidding on your dream home: Once you choose your ideal home, you may find yourself bidding on the home with several other prospective homebuyers. Don’t get carried away with bidding outside your budget and allowing your expenses to skyrocket.
- Furnishing your home: If you’re purchasing a new home for sale in Rochester, NY unfurnished, you’ll need to budget for sofas, tables, appliances, beds, and more. If you’re looking at older single-family homes for sale, you may incur additional costs repainting or repairing faulty appliances.
Stop by your top single-family homes, townhomes and patio homes near Rochester, NY
Visiting homes for sale before purchasing may seem like a no-brainer, but you’d be surprised at how many people try to buy homes sight-unseen. No matter how trustworthy you find the seller, it’s always best to see what you’re getting before the money leaves your bank account. Besides knowing you’re getting a quality piece of real estate to begin your future, you’ll be able to check out the surrounding housing communities and get an idea of the atmosphere. Even if there’s nothing wrong with a neighborhood, it may still not feel like a good fit for you and your family. Wegman Companies, Inc. wants to make your home search as hassle-free as possible. Now that you’ve read our tips, peruse our upscale housing communities in Rochester, NY that offer many amenities and are conveniently located. Contact us to learn more about our home building and communities.