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  • 3394 E. Tremont Avenue
    Bronx, NY 10461
    718.822.2203
  • 1293A North Avenue
    New Rochelle, NY 10804
    914.235.8500
Cavallo & Cavallo Attorneys
Providing a compassionate & attentive efficient legal service in estate planning & real estate.
Providing a compassionate & attentive efficient legal service in estate planning & real estate. Providing a compassionate & attentive efficient legal service in estate planning & real estate. Providing a compassionate & attentive efficient legal service in estate planning & real estate. Providing a compassionate & attentive efficient legal service in estate planning & real estate. Providing a compassionate & attentive efficient legal service in estate planning & real estate.

Home Buying Basics

Purchasing a home is one of the biggest decisions you’ll ever make. Maybe you’re looking for a starter home, your family’s dream home, or downsizing for retirement; regardless, you want to make sure the house you buy is the one that best suits your needs. There are a number of options to consider in purchasing a home that will be right for you, such as the style of home, School District, the amount of space you’ll need, the kind of neighborhood you want to live in, or even the amount of property taxes you’ll have to pay. While the whole process may seem overwhelming, there are some basic steps you can take to ensure the home you buy is one you’ll be happy living with.

Things to Consider Before Buying A Home

The U.S. Department of Housing and Urban Development (HUD) advises prospective home buyers of a number of important factors to consider when thinking of buying a home. Among the things to consider before buying a house are the following:

  • Figure out how much you can afford: Obviously, knowing what you can afford to spend is an important first step. An equally important consideration is the mortgage amount you’re likely to be approved for. In determining these amounts, you’ll want to consider your income and expenses, as well as your credit rating, the amount you have saved towards a down payment, and the amount of interest and insurance you’re likely to pay.
  • Learn about homebuyer programs: Throughout the city and state, there are a number of New York home buyer assistance programs. Do your homework and see if there are any you qualify for.
  • Shop for a loan: When looking for a mortgage, HUD advises potential home buyers stick to a simple mantra: shop, compare, and negotiate. Familiarize yourself with interest rates, points, and common fees charged by lenders. Figure out the down payment you can afford, and negotiate to get the best deal.

Once you have an idea of what you can afford, what programs you may be eligible for, and the type and amount of mortgage you can get, you’re ready to start shopping for that house. HUD offers a convenient home shopping checklist that will prompt you on questions regarding the space you’ll need, the commute you’re willing to make, and the type of neighborhood you want to reside in.

Smart Tips for Purchasing a Home

When it comes down to actually purchasing your home, you’ll want to be extra careful that you’re paying a reasonable price, and that you’re actually getting what you pay for. The New York Attorney General’s office offers the following consumer tips for buying a home:

  • Get a home inspection: Find out about potentially costly home repairs ahead of time by getting the property inspected.
  • Hire an attorney: An experienced real estate attorney is invaluable in looking after your best interests and ensuring your contract meets the terms of the offer. Your attorney can help to explain the various terms of your agreement so that you thoroughly understand what it is you’re agreeing to before signing.

Contact Our Experienced Real Estate Attorneys

When buying a home, it’s important to have someone on your side, looking out for your best interests. At Cavallo & Cavallo, our experienced New York Real Estate Attorneys can guide you through the home buying process, helping you to get the home of your dreams at a price you can afford. With offices in the Bronx and Westchester, we’re your neighborhood law firm, providing efficient and effective legal service to handle all your home buying needs.