Frequently Asked Questions.
Finding any great new home takes equal parts hustle, resourcefulness and sheer manifestation. If you are looking for something very specific, you need to spend intentional time and energy imagining what that space looks and feels like, while planting seeds in your world. Start poking around on Zillow and Apartments.com to get a feel for the market, and then reach out to a local realtor for an added layer of support and representation. From there, don't be shy to mention to as many people as possible what you are looking for. You'll be surprised what you might stumble upon just talking to your local wine shop cashier. I have stories! While on your pursuit of happiness, be sure that your credit is in good shape, and that you have proof of income and savings easily accessible in PDF format. If any of those three financial components are not very strong, you may want to arrange for a co-signer. They will need to provide all of the same information, so you better start asking family or friends sooner than later. My suggestion is to always have at least 5X your monthly budget in the bank so you can feel very comfortable throughout the lease signing and moving process.
How do I find a great apartment?
It is always a good time to buy real estate. Period. You just have to make sure that internal factors blend well with external factors. Internal factors include personal finances, risk adversity, job security, and opportunity costs of time & money. External factors include property prices, sales contract and financing terms, local market conditions (both near term and long term), construction costs, and local real regulations, such as Rent Control, Historical Designations, and zoning restrictions. I can help you prioritize these factors by providing resources and consultation based on my experience with clients and personal projects. There is no one perfect path to purchasing real estate. You need to be willing to build your own strategy, and then ride the waves of the journey accordingly.
Is now a good time to buy?
Finding any great new home takes equal parts hustle, resourcefulness and sheer manifestation. Fortunately, with today's Real Estate Apps, Youtube, Instagram, AirBNB and other online resources, it is easier than ever to explore new places to live. If you are considering moving out of state, or moving from a suburban to urban environment, the first step is always to spend an extended period of time, 2+ weeks, in a few prospective neighborhoods. Live in that space, rather than just being a tourist on vacation. Use the local grocery stores, rent a car even if you don't need it, and just wander without many plans. If you like that area, go back a second or third time. If you don't like it, try a new destination. If you want to stay in the same general location while adjusting your housing style, start by driving around your preferred neighborhoods, communities or developments. Go to open houses before you are ready to move. Walk around the area and try to talk to neighbors when you can. If a preferred community is gated, talk to me about upcoming open houses. If you have no idea where to start looking, talk to me. I am really good at inspiring others based on the lifestyle they want to achieve. You can tap into our dynamic knowledge of New Jersey real estate, as well as our vast Compass network nationwide.
I want to sell, but where do I go?
Improving your space without moving is all about asking for help. You love your location, and your amount of space, but things feel a little flat. Maybe all you need is a statement couch or a new accent wall? Sometimes you just need to rearrange a room, or get your space professionally cleaned. Find DIY accounts on Social Media or Pinterest to find some inspiration. Talk to local furniture and decor shop owners to see if they help with design services. Or perhaps they know people. You can also reach out to me for designers and other professionals. I have the best contacts to help you create a happier and healthier home. Some people get nervous to invest in their space, especially when renting, because it could become a waste of money by the time you move. Having said that, you cannot put a price on happiness, and it is imperative that you are happy in your own home.
How do I make my current home better without moving?
What should I be doing to prepare for a purchase?
Are you approaching a lease expiration date? Is your credit not quite where it should be? Are you approaching a big bonus or promotion at work? As you prepare for a home purchase, these are all of the questions you should be asking yourself. Once you have answers, you need goals and objectives. To refine and master these goals and objectives, it is wise to ask for help. Consult with me as your local realtor, or one of my Compass colleagues in other markets. Speak with a lender or your financial planner. Talk with friends and family that bought recently. All the inner and external conversations will help you create a strong 1-3 year plan for a purchase. The more your talk about buying, the more you think about buying, and the more you manifest exactly what you want, the more likely it is to actually happen.
What do you need to start a business in town?
While I like to focus on residential real estate, I have helped and consulted with a few friends and clients on starting a business in town. Montclair, and the surrounding areas are great for small businesses. The local fabric of commerce is dynamic, and full of opportunity. But it's certainly not easy. If you are a brand new business, or a business transitioning from online sales to retail sale, you should plan to have 1 year of expenses in the bank, and up to 3 years of expenses arranged with public or private financing. You should have your concept and operations well organized in a detailed business plan that can be easily shared with potential investors, and the landlord of your desired space. Upon approval, a landlord will usually request 2-3 months of rent upfront as a security deposit, and all capital improvements will usually come out of your pocket. Be prepared for construction to take 2X longer than expected, and be prepared to jump through some hoops with the local zoning and building departments. That's just the tip of the iceberg, lets meet so you can learn more!
I am going to sell in 3-5 years, should I renovate my kitchen, or re-do the roof?
Stop! Before you sign anything with a contractor, make sure to walk your house with a local realtor. We have the best insight on opportunities for strong Return on Investment (ROI), and we know what buyers will spend the most money on. We also know which improvements can benefit your life the most, while you wait for your selling time to mature. One extra conversation now can yield a tremendous amount of profit and relief later on.