Rochester & Buffalo Home Buying Tips You Need to Know

Home Buying Tips from Expert Home Builders

Are you in the market for a new home? Whether you’re tired of renting or want a fresh start in a new neighborhood, it’s important to know the different things that go into buying a home. Our expert home builders at Marrano Homes have been in the home building industry for more than 65 years. We are happy to provide you with home-buying tips to help make the process easier for you. Keep reading to learn more, or contact us today to get in touch with our new home sales professional.

An Introduction to Home Buying

When you’re finally ready to buy a home, there’s so much to think about and prepare for. Whether you want to buy an existing home or build a brand-new one, you’ll want to arm yourself with as much information as possible. Check out these tips for home buying that will be helpful when you finally decide to start the process:

• Be Realistic – It’s easy to get caught up in the excitement of looking at houses. It’s very important to have a clear idea of your budget so you don’t overextend yourself financially.
• Be Patient – Buying a home can take a while, and it’s important to be prepared. Find a good real estate agent that will understand your needs and will be able to help you find properties that fit your budget.
• Know What You Are Signing – Understand that any contract you sign is legally binding. Before you sign a purchase agreement, make sure you know the terms. While a real estate agent will be able to review the main points with you, you should consider hiring a lawyer to review the fine print—this will protect you from unforeseen circumstances and the buyer from receiving unqualified buyers.

Decide Where You Want to Live in New York State

Deciding where to live in New York State can be a difficult task. With so many different regions and home types to choose from, it can be hard to know where to start. Here are three home-buying tips that can help you narrow down your search:

1. Consider Your Budget – New York State is home to some of the most unique real estate in the world. You can choose from single-family, patio homes, multi-family, townhomes, condominiums, and co-ops, so it’s important to know exactly how much house you need as well as how much you can afford to spend.
2. Consider Your Neighborhood – New York State offers a wide variety of neighborhoods, each with its unique character. Take some time to explore different areas and see which ones feel like home. Check out the fast-paced urban areas downstate, the laid-back rural communities in central NYS, or a blend of suburban neighborhoods in upstate and Western New York.
3. Factor in Your Commute – The work environment has changed drastically over the last few years, so remote workers may not be concerned about the distance to the office. However, if you drive to work in a high-volume traffic area or need to rely on public transportation, you might want to consider those factors when looking for your perfect home.

How to Get Pre-Approved for a Mortgage

One of the most important tips for buying a home is getting pre-approved for a mortgage. A mortgage lender pre-approval will give you an estimate of how much money you can borrow to purchase a home, and it can also give you some negotiating power when it comes to making an offer on an existing home. If you’re buying a new home, your builder will be able to tailor your home options to a price point more conducive to your budget.

Things to Know When Buying a House in New York State

There are a few things to remember when buying a home in New York State. Property taxes are part of the overall cost of homeownership. Funds acquired are part of the local school, county, and in areas like New York City, city budgets. Property taxes are calculated as a percentage of the home’s original selling or appraised value by the assessor’s office in each locale. Taxes vary significantly across the state, so you should factor this into your budget when determining how much you can afford to spend on a home.

If you are buying a condominium, much of the exterior maintenance may be handled by a homeowner’s association. There will be a monthly fee required to cover these services that will also need to be factored into your homebuying budget. New York State does provide a significant reduction in property taxes for condominium owners, so ask if the home you’re considering will be eligible for this benefit.

How many houses Can I Afford in New York?

Several factors can affect how much you can afford to spend on a home. These include your income, your debts, and your down payment. If you can save for a large down payment, you may be able to get a mortgage with more favorable terms. Ultimately, the amount you can afford to spend on a home in New York will depend on your financial situation. Marrano Homes offer financing options that can make the financing of your new home easier.

Consider Timeframe for Your Move

Whether you’re buying an existing home or building a new one, you’ll want to have a plan for when you want/need to move and when you can gain access to the new property. An existing home will likely identify a date for move-in but it may be contingent on when the Seller can physically vacate the premises or when your buyer can take occupancy if you’re selling a home too.

If you’re having a home built, the contract will state an “on or about” delivery date. That date will be several months out from the original contract signing and ultimately finalized after a Certificate of Occupancy is issued by the town. There are an endless number of components required to build a home to include your personalized selections. Your field supervisor will keep you informed about the progress on your home and provide a more definitive delivery date later in the process. Set up secondary accommodations in case you have to leave your current residence before your new home is complete. You will be anxious to schedule your mover, but having a plan based on the actual date of completion will make the process run smoother.

Build Your New Home with Marrano Homes

Now that you know where to start with the help of our home-buying tips, consider building your new home with Marrano Homes. We have a range of exclusive layouts in single-family, patio homes, townhomes, and villas/condominiums and specialize in helping home buyers find their perfect home. If you are limited on time and unable to build a home, we have a large inventory of fast-close move-in-ready homes just for you.

In addition to high-quality standard features and innovative options, every customer is assigned a professional, in-house interior designer to assist you in personalizing your home. Check out our Design Center for a better understanding of the design process.

Marrano is committed to providing the best home-building experience possible and also builds homes throughout Western New York and Rochester. It is our goal to build homes where people want to live.

As a leader in homebuilding innovation, Marrano Homes continues to raise the bar in building superior quality homes that blend timeless beauty with modern comfort and convenience. Contact us for more information or to schedule an appointment with a new home sales professional.