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6 Facts Every First Time Buyer Should Know In 2024
So, you’ve decided to take the plunge and buy your first home on Staten Island? Congratulations! Staten Island offers a variety of affordable houses, beautiful parks, plenty of shopping, great schools and easy access to Manhattan, Brooklyn and New Jersey, making it a great place to settle down and grow your roots.
But, as a first-time homebuyer, navigating the process can feel overwhelming. Here are the top 6 things to keep in mind:
1. Budget Like a Boss
Staten Island has many housing options. Still, in New York, housing prices tend to be higher than the national average. Be realistic about your budget. Look into the local real estate statistics. For instance; you may want to check out homes for sale in the Oakwood neighborhood if your budget is in the $650,000 – $700,000 range for a semi-attached home. Let’s say your budget is in the $700,000- $850,000 range, then you might consider the New Brighton neighborhood. It’s not just the purchase price but also ongoing costs like property taxes, homeowners insurance, and maintenance that you must also consider. A good rule of thumb is to spend at most 25% of your gross monthly income on your mortgage payment.
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