One part of living the American dream is to be a house owner. If you want to live in Long Island City, NY, you should first explore its real estate market and know how to choose the right home for you. What do first-time buyers in Long Island City do and how do they find their dream home? Buying a house for the first time is exciting and stressful, at the same time. But, on the other hand, there is a guide you can read to simplify the process.
Reasons to live in Long Island City
Why do people love living in Long Island City? As you already know, here are a lot of pros of living in New York and why Long Island City as part of New York is so special? What are the pros of living?
Here are some of the reasons to move to Long Island City and buy your first house there.
- The location – it is close to Manhattan and many people commute. Also, it is not too close, so you can have peace and quiet. Via public transportation, you only need around 25 minutes to Downtown Manhattan.
- Affordability – homes here are more affordable than homes in Manhattan or Brooklyn, for example. This is why first-time buyers in Long Island City choose this place. Other costs of living are more affordable in Queens borough, including Long Island.
- Green spaces and nature – if you don’t like living in a concrete jungle, this area is perfect for you. Long Island City has a lot of parks and green spaces all around the city.
- Raising kids – it is easier to raise kids when living in a bigger house, sounded by parks, and where people are nice and friendly. Schools here are highly-rated and students have high test scores.
- Safety – the crime rate is lower here. Also, this area is quiet and smaller.
House hunting tips for first-time buyers in Long Island City
Finally, you are buying a house. What should first-time buyers in Long Island City know? What to pay attention to when looking for your dream home? It is an exciting process and it can be fun. One of the first steps to take is to research and hire local real estate agents because they can speed up the process and already have a built network. Here is how to prepare for purchasing a house in LIC.
- Pay off all debt you have and have money set aside because owning a home is more costly (maintaining a property is now your responsibility). Prepare your finances and know how much money you can spend. First-time home buyers may have some benefits as well.
- Down payment is around 10 or 20%. If you are not paying all cash, you need to have enough money for a down payment.
- Save money for closing costs and costs of moving.
- Choose your mortgage wisely and consult professionals. In most cases, first-home buyers choose 15-year fixed-rate conventional mortgages.
- Get preapproved for a loan and get written proof before you start to look for a house in Long Island City.
- After hiring a realtor, set a list of priorities on what your future house must include. But be realistic and stick to your budget.
- When looking for a house to buy, think long-term. For example, do you want kids (if you do, then you need a bigger house)? Or if your kids will move out soon, don’t waste money on buying a large home.
- Make an offer and close the deal.
If your new home is smaller because you want to downsize, get a storage unit on nycministorage.com and store safely your stuff.
Renting a storage unit in Long Island City
Many homeowners in New York rent a storage unit. Not only when moving, but also, a long-term self-storage. In a storage unit, they can put all the off-season items, for example, and make their home more open, decluttered, and clean. It is a cheaper option than buying a bigger house just to store your items. Having a lack of space doesn’t have to be an issue when you have a storage unit in Long Island City.
First of all, you need to know how many items you have to store. After that, you will know the size of the storage unit you need. Don’t rent too big storage because you will lose money, or on the other hand, renting a too-small unit is not good as well. Storage services can be very useful when moving, renovating a home, decluttering and you just want to free up the space in your home.
Hire a company for the moving
To organize your move, it is easier to have a moving company by your side to help you out. There are plenty of reliable and reputable movers from New York you can hire. Get recommendations from your friends and search online for moving companies. You can move by yourself, by it will take more energy and also, it is a time-consuming task. Items will be safely moved if they are in professionals’ hands. And also, you don’t have to deal with it. Search online, separate about 3 movers, contact, and compare them. Know your moving budget and which moving services you need.
After buying your first house in Long Island City, NY, it is time to transport your household items and furnish and decorate your new home. Make it warm and cozy – a place where you can relax after a long day. You can get rid of some items before moving out and make your relocation more affordable.
There are plenty of first-time buyers in Long Island City because the location is great, and it is more affordable than Manhattan. This way, you can live near the big city, but still, have more affordable housing options. Make a list of your priorities, research the real estate market, and know what you can afford. Now, when you can live your American dream and have your own house in New York, give that house your personal touch. You can do it by yourself or by hiring a professional home interior designer. Both ways will work, it is up to you which option you will choose.