Have you recently made the decision to pursue the path to homeownership? If so, congratulations! You may soon join the millions of consumers who have also chosen to purchase a house of their very own.

While there are countless benefits to completing a residential sale, doing so may not be so easy for some, as many individuals struggle to maintain an adequate level of savings. There are a number of financial aspects to take into account when planning such a transaction – and following a calculated, pragmatic approach can help you to get more for your money.

Housing markets up and down the East Coast have shown considerable improvement in the last year, and many economists have predicted the recent trend to continue in the future. Those looking to lock in low rates and buy a home are in a good position to do so, and may want to act quickly before conditions change. At Poli Mortgage Group, our team of Loan Officers work around the clock to service our valued clients and find them the best possible deals, as well as provide them with vital information associated with the sale process.

Aside from the accommodations, you will most likely decide to buy a home because of its price. Accordingly, you should incorporate the following strategies into your housing hunt in order to find the best fit for you:

Compare sale prices in desired area
Once you determine the area you hope to move to, you should start researching the local market. It is important to pay close attention to the selling price of houses similar to that which you plan to purchase, as they can give you a good idea of your potential investment. Asking prices are often inflated – as the current owners may be looking to make a sizable profit, or value the property because of sentimental reasons – and often do not reflect the home’s market price.

It is a good idea to find three nearby houses that you can compare and contrast to find an agreeable price. You can research residential values by contacting area real estate agents, the local municipal office or reading the community newspaper.

Zero-in on an acceptable property
After you have decided how much you can afford and determined the type of home you wish to purchase, you can begin to examine the housing market’s many offerings. While you may be able to do without extra features, you should be careful not to sacrifice any vital amenities in hopes of spending less. Keep in mind what items you desire, and those that you require.

Try to adhere to the targeted amount
While you may run the risk of insulting or angering a seller by submitting a purchase offer below their asking price, you should not be afraid to do so. Some homeowners have extenuating circumstances that demand a quick sale, even if it is lower than their preferred amount. Alternatively, do not feel pressured to bid higher on a home if you cannot afford it. It is important not to over-extend yourself, as the financial ramifications could be substantial.

Purchasing a home is a smart investment, and can afford you a significant amount of equity. However, many factors can play against home buyers. Before making a purchase offer, you should carefully examine your savings and calculate your purchasing power – and we at Poli Mortgage Group can help you do so. Having originated more than 40,000 mortgages in our 12 years of operation, our teams of professionals possess the experience and know-how necessary to secure a home sale and lock in affordable payment plans. If you’re looking to make the transition to homeowner, start by calling us at (866) 353-7654.