First Time Homebuyers Misconception of Moorestown

Many first time homebuyers I work with typically want to stay in the $250,000.00 range and below. They provide me a list of towns they would like to buy in, but rarely consider Moorestown. This perception that there are no opportunities to buy in Moorestown below $250,000.00 is false.

In 2007 close to 40 homes sold in Moorestown from $250,000.00 and below. These homes were a mix of twins, townhouses, condos and single-family detached homes. Even as I write this there is a great 2 bedroom, 1 full bath home with a garage on Collins Avenue.

Yes, there are usually fewer options (less supply) in this price range and it will take you longer to find a home in Moorestown in this price range. However, you should consider the town a smart investment given the blue ribbon schools and steady appreciation of property values since 1999.

With all this in mind Moorestown doesn’t work for all my clients because they may need more bedrooms, new construction or closer proximity to work or family. When this is the case we are usually looking at neighborhoods in Merchantville, Pine Hill, Audubon, Collingswood, Haddon Heights, Haddon Township, Berlin and the surrounding towns.

Regardless of where you are looking you should begin to review how you are managing your money and using your credit. For all my clients I provide them a FREE workbook - “Preparing to Buy a Home”.  Just e-mail me your name and mailing address.

Happy house hunting! Please check back for other helpful tips on buying your first home.

Are you a new home buyer?

Recently I went out with a couple in their early to mid twenties looking to purchase their first home. They currently rent, but realize that an important aspect of financial freedom is owning your own home. They are great clients. Great clients because by the 2nd house they posed several wonderful questions that all first time home buyers should know. I'll share a few here in my blog.

(1) As a first time home buyer when should we start evaluating mortgage companies?
(2) How do we find that comfort area between what we can afford and what we qualify for?
(3) Once we find a house what are the next steps with making an offer?

These questions put their financial health in the forefront and keep potential surprises to a minimum as we move forward with finding them a home. If you are a home buyer that would like help answering these questions for your individual circumstance please contact me.

Happy house hunting!