All Forum Posts by: Camille Apodaca

Yes, @Alecia Loveless is absolutely correct!  Also, make sure you understand the lease you are inheriting (how long it is for, who is responsible for what, all that fun stuff) and secure the tenant's existing security deposit from the current owner.  Should they decide not to renew their lease you want to be sure you can refund it without coming out of pocket or have coverage for any wear & tear/damages, etc.  See if you can get some feedback on the existing tenants from the current owners, should be an easy enough convo.

Last note, it might be good to double check if the area is subject to rent control and how that applies to existing/future tenants!

Hiya there!  I am a local agent in NJ so I can speak a bit about the area.  Your financial situation, loan type, and how much you would be approved for really will dictate whether it is a good time to buy (for you personally).  Always great to have a strong down payment but also helps to be mindful of the additional costs that go into purchasing a home - closing costs, inspector, etc. - so always safe to factor in a bit more than just the down payment. 

HOA fees vary quite substantially across some buildings in Hoboken/Jersey City and amenity access to things like parking, washer/dryers as well.

Excited to continue to see a significant interest in property solutions (rentals and buyers) in the Hudson/Bergen County NJ area!  The market continues to show that if the property is priced competitively it'll move and in some cases, multiple bids and applications are working to the benefit of the sellers/landlords.  Are you seeing the same demand in your areas?

Whether you're a first-time buyer/investor or a property purchasing pro, closing costs are an additional out of pocket expense that should be factored into your home buying process!  On average ranging from 2%-5%, depending on where you are purchasing your home, this portion of your transaction will need to be covered in order for your transaction to close.  Click HERE to learn more!