When it comes to buying a home, there’s a large number of items you’ll want to check off along the way. Here are some helpful options to keep in mind.

  • Determine your budget for a down payment and amount you are able to spend monthly. Consider monthly expenditures such as your mortgage, maintenance or common charges and real estate taxes, utilities, parking etc.

  • Get pre-approved for a mortgage, look into credit report, FICO score, type of mortgage, shop for best rates, and programs.

  • Identify your timeline for moving.

  • Find a real estate agent who specializes in New York City real estate.

  • Determine your needs and prioritize your wants: style of home, size, location, building amenities, condo, co-op or house.

  • Evaluate access to transportation and commuting time to work in selected neighborhoods.

  • If applicable, research schools and review school reports in selected neighborhoods.

  • Evaluate building amenities and house rules in terms of your needs. (e.g. washer/dryer permitted, doorman, gym, pet policy, storage facilities, etc.)

  • Discuss with your agent how much to offer and leave room to negotiate. Your agent will be able to advise based on how long the property has been on the market, condition of home, other offers that have been presented, and how the asking price compares to recently sold similar properties.

  • Let your agent prepare your offer and apply trained negotiating skills during the buying process. Your agent will advise you of any final negotiating factors that may benefit you in the purchase.

  • Once you have chosen an apartment, have both your agent and your attorney evaluate the building’s financial statements.

  • Once your offer is accepted work closely with your agent to gather materials for your mortgage application and/or board package.

  • Find a local real estate attorney to prepare the purchase contract before you sign and represent you at the closing.

  • Before you move in, obtain homeowners insurance. Get quotes, compare and secure an insurance policy with appropriate coverage.