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Are You Ready to Buy an Ocean City Property
  The decision to purchase a home is a highly personal one, based on both tangible and intangible factors.
Beyond your personal situation, local market conditions, financing costs and future expectations must also be evaluated.

The following list of questions can help you decide if you are ready to move forward with an Ocean City Real Estate purchase. Your Island Realty Group Agent can help you sort through these issues and provide essential local market perspectives.

   
PURCHASING CONDITIONS

 1/ If you purchase a home, is it for personal use or an investment?

 2/ What can you afford to pay each month for housing-related expenses?

 3/ What are the total costs of home ownership? These may include:

    a/ Mortgage Payments
  b/ Property Taxes
  c/ Homeowner's Insurance
  d/ Utilities
  e/ Maintenance Costs
  f/ Condo Dues
  g/ Any other special fees?
 






 
   
4/ Do you expect these housing-related expenses to increase or decrease?

 5/ What additional expenses are required to complete a purchase? (closings costs, etc)

 6/ How much will you home ownership costs decline after adjusting for interest expense deductions and property taxes (if applicable)?

 7/ Are local market prices favorable to purchasing? What are your expectations to future prices?

 8/ Do you qualify for special purchasing assistance programs that can help reduce the costs of home ownership?

RENTING CONSIDERATIONS
 1/ If you are a now a renter, what are your total housing expenses?

 2/ How does renting vs. buying factor into your long-term investing goals?

OTHER FACTORS
 1/ What are your personal preferences regarding the type of housing you wish to live in?

 2/ How does location factor into your housing preferences?

 3/ How do you expect your personal situation to change, in terms of future housing needs?

 4/ What are your expectations concerning future employment?

 5/ What are your long-term personal and financial goals, with regard to housing?
 

 

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