Hoboken Real Estate Guide

Being close to New York City makes Hoboken one of the top places to live in New Jersey. Even though it’s the city that covers almost one square mile, Hoboken is still one of the most attractive cities to live in the New Jersey area. But, before you start packing, you should hire Hoboken movers to assist you with the relocation process. However, you should also learn a little bit more about Hoboken real estate. Therefore, we have prepared a small guide to help you to learn more about the city and current Hoboken real estate climate. Let’s begin!

Hoboken Real Estate – Tips

As you already know, Hoboken is a small city that covers one square mile, but it is still one of the most attractive places to move to and live in, in the New Jersey area. Unfortunately, houses and apartments are not that affordable. If you are planning to rent a place in Hoboken, you should know that a chance to find a place that costs under 2.000 dollars is very low. For example, for one studio apartment, according to Rent Cafe, you will have to pay $2.525 monthly. A one-bedroom apartment will cost around $3.000, two-bedroom places will be around $3.500, and a three-bedroom apartment will cost $4.500-5.000.

Buying Or Renting A Home – How To Prepare?

If you want to acclimate, enjoy the town and neighborhoods without strings attached, you should consider renting an apartment in Hoboken, this lovely part of Hudson County. However, at the same time, you might consider buying a brownstone, condo or apartment! If you can afford it, congratulations! Even though the process of home-buying can be daunting that doesn’t mean that it’s not possible. Hoboken real estate can be tricky. Therefore, before you start creating a checklist to inspect your new home, you should prepare for a fast-paced, expensive and hiccup filled buying process.

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Buying a place in Hoboken can be very fast-paced and expensive.

Tips For Buying Your First Home In Hoboken NJ

First of all, do not rush! Prepare in advance and sort out your budget. Check on a coupe of apartments or condos per day and take your time to think. But, the most important thing is to find the best real estate agent. The real estate agent knows the neighborhood and they will help you to get the best deal for the money that you have. They can also show you the neighborhood and give you the information about the town, transit system, schools, and other facilities you might be interested in (such as gym, public library, playgrounds, etc.)

So, if you are planning to buy an apartment in Hoboken, you should follow these tips:

  • Get Pre-Approved To Buy
  • Prioritize Your Needs
  • Search For The Home
  • Negotiate Price And Make Your Offer
  • Sign The Contract

Hoboken Real Estate – Get Pre-Approved To Buy

Unless you are rolling in money and you don’t need anyone to lend you some to buy a condo, you will have to schedule a meeting with a mortgage company. Before they decide to lend you the money (or not), the mortgage company will thoroughly look into your credit debts, financial statements, current debt, and work/income history. There are a lot of benefits to living in New Jersey while working in NYC. Having a good job in NYC and cozy home, in a family-friendly neighborhood not that far away is a dream come true for almost every family!

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The mortgage company will thoroughly look into your financial statements before giving you the loan.

Prioritize Your Needs

And there we go! After you figure out what you can afford, it’s time to determine what do you need versus what do you want! For example, you might need a parking spot but you don’t need a washer and dryer because you have your own? These are the questions you should ask yourself: “What kind of amenities you must have?”, ” How much space do you actually need?”, “What kind of neighborhood do you want to live in?”, etc.

Search For The Home

After you have figured out your budget and what do you actually want and need, you should start searching for the home actively. Tell your real estate agent what kind of home you are looking for and they will take you to the places that you might be interested in. However, you can not inspect the property before you make an offer. Therefore, it’s very important to do thorough walkthrough during your viewing of the property before you make any offer. This process will be easier if you are moving locally. You might already know where do you want to live and how much properties cost. However, having local movers NJ on your side is also a very important part. You will need all the help you can get to relocate all of your belongings fast and safely!

Negotiate Price And Make Your Offer

When you find the right house, you should talk with your real estate agent about the number you are feeling comfortable submitting. Aggressive offer and the strong deposit will give confidence to the seller that you are not here to play and that you are very interested. There’s usually not so much time before someone else comes and make an offer too. That’s why you should play smart, prepare and act diligently and swiftly.

You should also avoid low-balling. Every offer that is significantly lower than the listing price can often be rejected by the seller. So, play smart, don’t lose a house that you like so much.

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Have you found the perfect house? Make an offer and negotiate!

Hoboken Real Estate – Sign The Contract

And congratulation, you have become a proud owner!  Every contract is valid only after it has been signed by both seller and buyer. However, sometimes buying a home process doesn’t end the way you wanted to. Everything happens for a reason, right? The most important thing is to stay positive!

The Hoboken real estate market is super hot right now. So, if you lose the first house or the seller rejects your offer, just keep looking! The right house might be still waiting for you! Be positive and keep searching! Best of luck!

 

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