When Looking at Condos Remember Your Trips to the Mall
Like many people, I love a bargain. Like most women, I also love shoes. Now put the two together and you’ll know how I shop for shoes. I go to a mall with a Bloomies or Nordstroms and try on just about every pair in my size, from the sale shoes, to the new arrivals, to the Manolo’s and Jimmy Choo’s. Ultimately, I may buy only a pair or two but the shopping process itself is hugely important. Not only does it let me decide which I like best, it lets me know which are a great deal. There is nothing like the thrill of finding a great pair of Prada’s for half price.
Think of Shopping for a Hoboken Condo Like the Search For a Perfect Pair of Shoes
Just as you would never shop for shoes that weren’t your size, when buying a condo, you need to know your budget. If you haven’t talked to a banker, financial advisor or mortgage lender you are doing yourself a disservice. Unless you’re paying cash for your Hoboken condo, you will need a prequalification letter from a lender to make your offer. Even though a ‘prequal’ is non-binding and you are not obligated to use that lender, it makes your offer a serious one. Similarly, just as you know if you’re looking for strappy sandals or riding boots, you should have an idea in which neighborhood you plan to concentrate your condo search. If you are all over the map its that much harder to focus in on which property would be the best potential home.
The “Comfort, Style & Price” of Real Estate
We’ve all found a great pair of shoes on sale that were just a tiny bit too tight. We buy them anyway thinking they will ‘stretch’. Of course, they never do and after a few painful forays they are relegated to a far corner of the closet. We’ve all longed for the latest pair of Gucci’s or Chanel’s only to have the price bring us back down to Earth. So when we select shoes, we go for a combination of comfort, style and price with which we can live. Buying a condo is no different but with real estate the crucial factors are location, condition and price. Like shopping for shoes, a condo buyer has to consider all three factors and find the property in an acceptable location, in good enough condition and within one’s budget. The single best way to guarantee a winning combination when buying real estate is to look at as many properties as possible. Like trying on many pairs of shoes, going to see as many condos for sale as possible will let you know when you’ve hit the winning mix and it’s time to make an offer. But just like frequently happens with shoes, if you take too long to decide, the best ones will be sold out and you may miss out on the new home of your dreams.