Lloyd Harbor, NY

Real Estate

Find Real Estate in Lloyd Harbor, New York. Easily view larger real estate listing pictures, interactive maps, schools, and other important Lloyd Harbor area information.

Buying real estate in Lloyd Harbor, New York isn’t just an investment of money- it’s also an investment of time and energy. Purchasing a home can be an involved process, and REALESTATE.COM.VC is here to help make it as simple and quick as you want or need it to be. REALESTATE.COM.VC has over 397 of listings in or near Lloyd Harbor and you can search through them by the factors that are important to you (like number of rooms, lot size, or neighborhood). This allows you to narrow down your search to just the houses that are truly potential candidates for purchasing.

Even when you are armed with a great resource like REALESTATE.COM.VC, there are other variables you need to consider in the home-buying process. For example, what is a real estate agent vs. a Realtor or broker? Should you consider the re-sale value of the real estate before you buy it? Are “for sale by owner” homes something you should consider? Let’s consider a few of these questions before you begin your real estate search in Lloyd Harbor.

1. Real Estate Agent Terms. Real estate agents are licensed to sell real estate in your state, but beyond that, they can have a number of additional classifications or qualifications. Knowing these differences will help you sort through advertisements for real estate agents before you call them for an interview.
• A Realtor is a real estate agent who is also a member of the National Realtor’s Association. Membership requires adherence to a strict code of ethics, and provides the real estate agents with opportunities for continuing education.
• A Broker is a real estate agent who has a broker’s license. Training for a broker’s license (as well as broker’s exams) are more involved than regular real estate training. Some places may require higher-level education in order for the candidate to obtain a broker’s license.
• Buyer’s agent vs. Listing Agent: These are fairly self-explanatory. A buyer’s agent is a real estate agent who represents the person who wants to buy the house. The listing agent is also known as a “seller’s agent,” and represents the seller in transactions. Listing agents are also generally responsible for updating MLS listings for the real estate they represent in Lloyd Harbor.
• A dual agent represents both the seller and the buyer. This can cause some conflicts of interest. Try to avoid dual agents, whether you’re a buyer or a seller.

2. Is “For Sale By Owner” Real Estate Worth It? Sellers sell their homes without a realtor when they want to save on the commission. Buying real estate in Lloyd Harbor from the owner has a number of positives: inexperienced sellers are more likely to accept a lower bid, they’re more familiar with the neighborhood, and can tell you details about the house that a realtor wouldn’t necessarily know. However, unscrupulous sellers may also avoid disclosing important information about the house, like necessary repairs. Buying real estate that’s for sale by owner can be a wonderful experience, but approach with caution.

3. Resale Value. You never know what is going to happen. One day you might need to sell the house you’re buying right now, even if you think it will be your forever home. It’s a good idea to consider the resale value of a piece of real estate before you commit to purchasing it, even if you have no plans on leaving. For example, homes in good school districts have a higher resale value than those that are in poorer districts. One story homes with three or more bedrooms and two or more bathrooms are the easiest to sell. If you’re in an urban area of Lloyd Harbor, homes closer to public transportation stops will usually have more resale value.

4. How Much Real Estate Can I Afford? The financial aspect of buying real estate can feel especially confusing if you don’t know what a bank is looking for. But banks all essentially use the same methods for deciding how much house you can afford. They look for a debt to income ration of less than 36%, and they look for at least 25% of your income being available for housing costs. Banks will take your credit report, income statements, and expenses, and use those to arrive at your preapproval number. If you have your income and expenses records, you can use the aforementioned percentages to find out how much of a mortgage you can afford, and if your debt to income ratio will qualify you for a loan.

5. What About the Viewing? Obviously, you’re going to eventually get off the computer or the phone and go look at the piece of real estate you are considering buying! When you go to a viewing, try to keep an eye out for a few things:
• Always be on the lookout for water or moisture damage. Bubbling paint, loose wallpaper, moldy or mildew spots, and soft wood are all signs that the property has a moisture issue.
• Bring a measuring tape and take note of the sizes of the rooms. When you get home, you can then measure your furniture to make sure everything will fit when you’re moving.
• Look for signs of wear that may eventually require expensive repairs, like loose roof tiles, cracks in the walls that indicate a foundation issue, burned-out outlets, or thumping in the pipes when you turn on the faucets.
These are just a few items to remember when you’re searching for real estate in Lloyd Harbor, New York. A simplified outline of the process would look something like this: narrow down your list of wants using REALESTATE.COM.VC, find a Realtor you can trust, view the houses, pick one, and make an offer! Of course, the real experience of buying real estate will be much more involved and possibly emotional. But with the right knowledge, support team, and the help of REALESTATE.COM.VC, you will be in your dream home in no time!