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One of the most beautiful places that you can live is in Connecticut on the waterfront. A wide variety of gorgeous homes line these private and well-kept bedroom communities. With good selection and plenty of price ranges, these homes are affordable for all income categories. But before you start shopping, use these tips to get a head start.
Know The Area
With a ton of awesome areas to choose from and consider, it’s always helpful to familiarize yourself the areas that you are interested in searching for waterfront homes for sale in CT. A wide variety of free resources can be easily obtained merely by conducting online searches. A realtor can also help you learn more about areas and find the one that’s suited perfectly for your lifestyle needs.
Knowing your budget is critical. Otherwise, you could be shopping for homes that you can’t even afford or get approved for. Experts say that a home loan shouldn’t comprise more than 33% of your gross income or you can’t actually afford it. Take your budget fully into account before you start searching, and you can narrow the list exponentially in your favor.
A commonly overlooked aspect of homeownership is maintenance cost, explains U.S. News & World Report. They advise that you think before you leap and carefully factor these costs in. Otherwise, you could end up with a payment you can afford but a home that you can’t afford to upkeep.
Another consideration should be the HOA fees, if any. Many waterfront homes for sale in CT are in HOA communities that are tightly regulated to assure that the community is well-kept. These fees can range, but often will add few hundred dollars to your monthly payment. Be sure to factor these into your budgeting.
Property Taxes & Insurance
One more thing that you shouldn’t overlook are property taxes and insurance. Both can add a substantial portion to your monthly payment, and both should be considered very carefully. Usually, these will be wrapped into your monthly mortgage premium, but it’s wise to factor them in as best you can before you agree to purchase any home.
Lastly, the smartest thing that you can do when shopping for waterfront homes for sale in CT is to get preapproved by a bank first. This helps you know exactly how much home you can afford to buy, and also will give you an idea of what your monthly payment will shape up to be once you have made the purchase.
Waterfront homes in this region are an invigorating option for those seeking the serenity and solitude that the surroundings of Mother Nature offer. Being well-informed before you make purchase will only serve to help you accomplish your goal of owning your dream home.