NY Lic Real Estate Salesperson

You do not have to hire a realtor, however having a trusted realtor makes the process more seamless.  Real estate agents are professionals who have expertise and knowledge about the local market conditions, pricing trends, neighborhoods, and legal requirements. They can provide valuable insights and guidance throughout the buying or selling process. Also can help you determine the fair market value of a property based on comparable sales and market trends. This can help you avoid overpaying as a buyer or underpricing your home as a seller. 

Your Financial  Readiness: Assess your financial situation to determine if you're ready to buy a home. Consider factors such as your income, savings for a down payment and closing costs, monthly budget, credit score, and debt-to-income ratio. Budget and Affordability: Determine how much you can afford to spend on a home monthly. Responsibilities: Understand the responsibilities of homeownership, including ongoing maintenance, repairs, insurance, property taxes, and utility expenses. 

 Pre-Approval:  A mortgage preapproval is a process where a lender evaluates your financial information and creditworthiness to determine the maximum amount they're willing to lend you for a mortgage. It's different from prequalification, which is a more preliminary assessment based on self-reported information.  It's an essential step in the homebuying process and can give you a competitive advantage in today's real estate market.

Determines your budget: A preapproval gives you a clear understanding of how much you can afford to spend on a home. This helps you narrow down your search to properties within your price range, avoiding wasted time on homes you can't afford.

Strengthens your offer: When you make an offer on a home, sellers often prefer buyers who have been preapproved for a mortgage. A preapproval shows that you're a serious buyer and have the financial means to follow through with the purchase, making your offer more competitive.  Get pre-approved for a mortgage from a lender to understand how much you can borrow and to strengthen your offer when making an offer on a home.