Basking Ridge Homes For Sale

Buying a home is one of the most expensive things you will do in your adult life, but it can be a rewarding investment for your financial future. Here are some tips on how to save money on buying a Basking Ridge home.

Tip #1

• Write a 5-year plan. This must include where you are going to live in the next five years.
• When you sell or buy a home you have to pay a transaction fee. Plan carefully, so you don’t have to move for those five years.
• Choose a home that will accommodate your future lifestyle, as well as your current lifestyle.

Tip #2

• Improve your credit. There is power in great credit. Make sure to get a copy of your credit report annually.
• Many websites will give you your credit report and score for free.
• Credit agencies will only give one free credit report a year.
• Make sure to correct any defective facts on the report.

Tip #3

• Look at all your finances and see if you can wait and save 20% on a down payment.
• This will allow you to get a lower interest rate and get rid of any need to spend money on mortgage insurance.

Tip #4

• If you want to possibly sell your home in the future, make sure to look at the school districts. This makes it easier to sell it. Call for other great selling features that make a difference to your future return on your investment.

Tip #5

• Look at the loan options carefully.
• Mortgages typically have options to pay additional points to lower your interest rates. Look carefully at this.
• If you plant to pay a mortgage for five years, it may be beneficial to pay points. But, if you plan on paying it off sooner than five years, skip the points.

Tip #6

• Do your homework before bidding on the home you are looking at.
• The bid you make on a home should be based on the sale prices on the other homes in that area.
• Get proper representation from our Adrienne Francis.  She can save you thousands of dollars and eliminate costly mistakes.

Tip #7

• Be willing to bargain, but be realistic in your market analysis of the value of the home of your interest. Basking Ridge real estate still holds a strong value.

Tip #8

• Think creatively to capture the seller.
• Example: paying more for the house but ask the seller to include laundry appliances or take them in exchange for a lower price.

Tip #9

• Hire a home inspection to look at the house you are interested in purchasing..
• In the long run this will save you money and minimize costly repairs found after the closing of the house.

Tip #10

• Talk to your employer because some companies may possibly offer low interest loans for some or possibly all of your home costs.

Tip #11

• Look around for home insurance.
• All companies are different. Consider a higher deductible to minimize your premium.

Ask Adrienne Francis for more tips on saving money! She has had the experience to know where you can cut costs and where you need to spend money to make a great investment! Call Adrienne at 201-259-4449!