If you love the allure of small-town living, Niantic, CT, is calling! Perched along the Atlantic Ocean, the town is home to about 3,500 people, as per the United States Census Bureau.
Buying a home in Niantic is the first step to starting your life here, and being a small town, you'd think it's an easy process. Being a small market, there aren't hundreds of homes on sale at any given time, which can make finding your dream home a bit more challenging.
Fret not, though. Here are home buying tips that will help you navigate the Niantic housing market successfully.
Set Your Budget
Although you're a first-time homebuyer, you probably know that buying a home is a big financial commitment, especially in Niantic.
Setting a budget gives you ample opportunity to evaluate your finances and determine what you can afford. If you're a cash buyer, it's easier to determine your budget, but if you're anything like most buyers, you'll go in for a mortgage.
Identify a lender you'd like to work with and get a mortgage pre-approval. That's how you'll know the amount of money the lender can offer you towards the purchase of the house. Whatever amount you can add on top of the offer is the house you can afford to buy, but remember to factor in property taxes, insurance, HOA fees if applicable, and maintenance.
Research Niantic Neighborhoods
Although Niantic is a small place, it has a handful of neighborhoods that appeal to people with diverse tastes. If you'd like seafront living, you'd be hard-pressed to find a better neighborhood than Niantic Village. It's also been recognized as one of the best places to retire in the U.S., so if you're looking for a place to enjoy your sunset years, you have an easy choice.
East Lyme offers excellent recreational facilities, Black Point has stunning waterfront properties, and Crescent Beach is known for its relaxed atmosphere.
It's prudent to visit Niantic and explore the various neighborhoods so you have an actual feel of what it'd be like to live there.
Find a Trusted Local Real Estate Agent
Navigating any real estate market can be a tall challenge for beginners like you. Even with an elaborate home buying checklist, you'll struggle to find the ideal home, or you'll get a terrible deal.
Hiring an experienced Niantic real estate agent is the key to unlocking the best deal. Local experts know the properties that are on the market, including those that are not publicly listed. Plus, your agent will handle the negotiation on your behalf, as well as the closing paperwork, ensuring the deal is above board.
Home Buying Tips for First-Timers
Whether you're looking to buy your residence or a rental property as part of your real estate investment strategies, Niantic is a great choice. These home buying tips for beginners will set you in the right direction, but what you need most is a local real estate expert.
At PMI East Lyme, we have realty professionals who are ready to help you find your dream home. As a veteran-owned local business within a renowned franchise, our company proudly offers over two decades of leading property management experience to the local market.
Contact us to get started on your journey to your perfect Niantic home.
