Wednesday, October 19, 2016

3 of the Biggest Mistakes Homebuyers Make

Property Tax Reduction Consultants
125 Jericho Turnpike, Suite 500 
Jericho, NY 11753
(516) 484-0654 or (631) 484-0654

Although people buy homes all the time, it's not something that you yourself are going to do every day - that said, there's certainly a lot to learn before diving in to make sure you get things right the first time.

If one of the next big tasks on your to-do list is to start house hunting, put as much effort as possible into avoiding these mistakes so that your home buying experience is a positive one:

1. Expecting immediate results.
It's good to be optimistic, but don't be too optimistic about how soon it will be before you move into your new home. Buying a home (and selling your home, if you need to) is a process, and assuming you'll find a house, put in an offer, and close the deal in a week or two is not really realistic. At the very least, you should expect that it will take 30 days from start to finish, but you should budget your time for more.

2. Choosing your first mortgage option.
In addition to shopping for a house, you also need to shop for a mortgage. Even if you feel like the mortgage you're offered by your bank is a great one, look into some other lenders so that you have other options to compare it to. And remember, even if this will be your first mortgage, try not to make it so obvious to the lender - yes, you should always ask questions, but making yourself seem as if you're not knowledgeable on the subject could position you as someone that the lender feels they can charge more.

3. Forgetting to be respectful.
At the end of the day, you need to remember that you're in someone else's home as you look around, so you should still be respectful of what is currently their living space - especially when you're trying to negotiate. There is a big difference between speaking very negatively about the home in order to knock down the price and politely offering your reasoning for why the asking price should be lower - the words you choose and the way you use them can have a huge impact on negotiations.

Once you decide on a home and settle into it, there's another mistake we'd like you to be aware of - not grieving your property taxes. After all, if you don't ever ask, the answer is always no!

Here at P.T.R.C. Inc., we encourage all Long Island homeowners to submit an application for a tax grievance, even if you suspect that you may not be successful. Why? There are NO penalties if your request is turned down, nor do we charge a fee for cases that are unsuccessful, so you've got nothing to lose!

To access this year's applications, please visit us on our website. Then, if you have any questions about submitting the application or about the grievance process in general, please give us a call at (516)/(631) 484-0654 or email info@ptrc.com.

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