Tips for Buying Your Dream Home

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Beach viewWelcome to one of the most exciting times in your life.  You are about to spend a great deal of money over a very long period of time — but don’t let that scare you.  With the right realtor and advice from family members and friends, you will be just fine.  Actually, you’ll be better than fine because you will soon own your dream home.

When to get started

There’s no time like the present. According to a new Realtor.com survey, 85% of people who say they want to buy a home in the next year plan to wait until the spring or summer to start.  What does that mean for you?  Get going now. It’s a less competitive time and there are many great homes to choose from.  Plus, finding the perfect place takes time, so don’t delay.

Do your research

With the information highway at your fingertips, you can find out just about anything you want to know about buying a home.  Decide where you want to be and research everything –lenders, neighborhoods, schools, property histories, cost of living, taxes, local government, area amenities – the works.  The more you know, the better choices you’ll make along the way.

Find a lender and get pre-qualified

When it comes time make an offer, be pre-qualified.  This is especially important if you are up against other buyers.  Being pre-qualified shows that you are serious and ready to buy.  Plus it’s an important part of figuring out how much house you can afford.

Inspect you must

If ever there was a time to dot all i’s and cross all t’s this is it.  Once you are under contract, you will have the opportunity to conduct a home inspection.  You will want to hire someone who is experienced and, if possible, has an engineering background.  A good inspector will explore a home from top to bottom – and help you get acquainted with its inner workings.  While every inspector has his or her own plan of attack, Dave Swartz, an inspector who was featured on HGTV’s House Detective, puts his focus on the following areas:

  • Electrical wiring
  • Roofing
  • Heating and cooling systems
  • Plumbing
  • Insulation and ventilation in attic
  • Overall maintenance/condition of the home
  • Air and water leaks
  • Structural damage
  • Environmental issues

If you happen to be buying a home at a beach resort like Ocean City, NJ, having a home inspection is a must due to its proximity to the ocean.  Your inspector will be able to tell you if the home has ever been flooded and if it’s likely to happen again.  Water damage can lead to problems with electrical, mold, foundation/structure, and more.

If something’s not quite right, trust the professionals you’ve hired to guide you to or away from the purchase.

 If Ocean City is your destination

Monihan Realty was born and raised in Ocean City, so its agents know the beach resort upside down and backwards.  It’s one of the oldest, original real estate companies and has a rich history of building trusting relationships and making people happy.

It all started in 1947, when Robert and Joy Monihan founded the business at 3201 Central Avenue in Ocean City.  Michael and Jeffrey Monihan took over for their parents in 1986.  They opened a second office in 1987, at 717 Battersea Road.  In 2002, the realty’s top sales agent, Tom Melchionni, became part owner along with the Monihans.