NJ Real Estate

Buying a house in New Jersey can be an exciting adventure and sometimes that excitement gets in the way of logic. Having a NJ real estate lawyer on your side can circumvent some of the issues you will face when buying a house in New Jersey. 

We have compiled a list of a few things you should consider and know. 


Before buying a house in New Jersey you need to consider several financial factors such as:

  • Credit Score: You will need a credit score of at least 620 for most loans. Start working on your credit as soon as possible to get the most favorable loan.
  • Debt to Income Ratio: You will want to spend less than 36% of your income on debt. This includes your future mortgage payment.
  • Down payment: For most conventional loans you will need 20% for a down payment.
  • Closing Costs: When buying a house in New Jersey you will typically need to pay between 2 and 5% of the home’s prices. This usually equates to between 7 thousand and 18 thousand dollars.
  • Homeownership Costs: Maintenance and repair costs through the year can add up. It is advised by an NJ real estate lawyer to save about 1% of the home’s value each year for these expenses. 


When buying a house in New Jersey, you should not only consider the layout and features but also the neighborhood. You do not want to buy the prettiest house on the ugliest block. Find a neighborhood within your lifestyle needs. 

Is it close to your employer, your desired school district, shops, entertainment? All of these are important when looking for a home. 

Real Estate Agent

Real estate agents are the most important people you will interact with during the buying process. They will show you homes, make recommendations for other services, and negotiate deals on your behalf. Although they play an important role in the home buying process, their main objective is to make a sale. Make sure you also have an NJ real estate lawyer on your side to review contracts and other legal matters. 

House Hunting

Here comes the fun part: this is where you get to go on tours of homes and narrow down your options. 

Although it is fun, it will come to an end and you will need to make a decision. During the pandemic viewing a home can look a bit different so opt for virtual tours and walkthroughs while you narrow it down to your top homes. Once you have your favorite properties compiled, ensure protocols are being followed to keep you safe. 

Some tips during this step are:

  • Make a list of must-haves and nice-to-haves
  • Discuss your price range
  • Choose your neighborhood
  • Consider the best times to buy

Make Offers With the Help of an Attorney

You did it! You found a home that you absolutely love and now you are ready to make an offer. Work with your real estate agent and NJ real estate lawyer to get the best offer on the table that is fair and benefits both the buyer and seller. 

Contact the Law Offices of James C. DeZao at (973) 358-6134 for help with the homebuying process.