NYC Homebuying Tips to Remember...

It's still a seller's market this winter season and buyers will need to be aggressive in setting their best offers. So, if you are planning to buy a home in neighborhoods across Manhattan and Brooklyn, you will need to put your best foot forward.

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But while it could be tempting to purchase your dream home above the asking price, you still need to make sure if it will be the best investment to make.?

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Keep in mind that buying your dream home isn't just about winning a bidding war. It's also about securing the perfect living space for your family.

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When you are out looking for a home in the NYC housing market right now, allow me to give you a tip: If you want to succeed in your home purchase this year, keep an eye out for a number of potential deal-breakers.

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What are the Biggest Deal Breakers?

I’ve just stumbled on an?article on Realtor.com?that can help you get the upper hand in a negotiation with a homebuyer.?

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Citing a survey by Home Advisor, the article lists down a few factors that could hinder a home purchase:

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Exterior Issues: 49%

Weatherproofing Issues: 46%

A Significant Number of Repairs Needed: 44%

Noticeable Flaws in the Foundation: 43%

Cracked Wall or Ceilings: 41%

Drainage Issues: 40%

Age of the Home: 33%

Structural Issues: 32%

Uneven Flooring: 31%

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How do you know if the home you are purchasing has any of these issues? Simple: Your offer should include a home inspection contingency.?

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The Chance to Pull Out from a Deal

A home inspection contingency allows you to inspect the property prior to sealing the deal with a buyer. With the help of a reliable home inspection company, you will be able to discover flaws and defects that the seller was unable to disclose at the start.?

From there, you can request the seller to shoulder the repairs or agree to decrease the final price. Otherwise, you could walk away from the deal at no loss.?

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A home inspection contingency gives you the chance to review the deal before pushing forward. While you might be motivated to close the purchase, you still need to keep your best interests in mind.?

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Then again, if you are motivated enough to purchase your dream home in today’s market, you might as well look past these issues and focus on other important factors.?

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According to the same survey by Home Advisor, buyers are also looking into the size of the bedroom, storage space, as well as the neighborhood it’s in.?

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In any case, it’s always best to connect with an experienced real estate professional in NYC so you can find the best deals that align with your needs.

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If you are in the market for an NYC home, feel free to reach out so I can show you around the neighborhoods that fit your lifestyle and price range. While we are at it, I can also help out in getting you a good price at the negotiating table.?

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Email me at?[email protected]??or call me at?917-627-5677?and let’s talk about what matters to you as a home buyer.

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Talk soon,

Eli

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