Located north of New Jersey within Bergen County, Saddle River is a beautiful private community that boasts breathtaking landscapes and unique estates that look straight out of a fairytale. Sprawling and idyllic, Saddle River is an excellent location for your next home. To sweeten the deal, Saddle River also features the lowest property taxes in the state of New York. Convinced and can’t wait to start house-hunting here? Here’s everything you will need to know when you are buying a house in Saddle River.
A Market Overview of Saddle River
In the past decade, Saddle River has seen a yearly population growth of 0.27 percent per annum, significantly lower than the national average of 0.69 percent but marginally higher than the 0.20 percent of New York.
Through the same period, the median value of the estates in Saddle River falls at around $1,785,200, notably higher than the state average of $327,900 and the national average of $204,900. The properties there appreciate at a rate of 0.94 per annum.
When it comes to the property rental rate, Saddle River will get you a median rent of $1,736.
Prepare Your Finances
As with purchasing a home anywhere in the country, you will need to have your finances ready before embarking on the journey of property acquisition. Before looking to settle down in Saddle River, you will need to undergo a pre-approval or pre-qualification process. Consult your realtor on how you can find a credible lender who can help you go through your finances and advise you on the way forward.
Of course, simply passing the pre-approval process does not guarantee that you will be able to acquire a home loan, but it will significantly improve your chances. Note that buyers in Saddle River typically will not give a second look to offers from prospective buyers that do not have a certified letter of pre-approval.
What Will You Need?
You will need to get the following documents ready:
- Social security information
- Pay stubs
- Relevant statements for all your assets
- Proof of employment
- Tax returns paperwork
- Credit report
Do note this list is not exhaustive and you may be required to give out more information or produce more paperwork. Work closely with your chosen realtor to ensure you do not miss anything.
House Hunting
House-hunting and touring is by far the most exciting part of looking for a new home. This process is made even more exciting in Saddle River as the community boasts a collection of unique estates, with no two properties looking the same. However, you should not be swept up in all the excitement. Before embarking on the house tours, make sure to have a list of things you want in your new home, prioritized based on what you need, what you want and what you can do without. As you tour the properties, look out for features that suit your needs. This will make the process more effective and ensure that you will be happy with your new home. Aside from the house itself, pay attention to surroundings such as accessibility and scenery too!
Making The Offer
Finally, after finding your dream home, make sure to work closely with your realtor so that you are able to work out an optimal bid. A good realtor should be able to give you some insight into the recent market trends in the vicinity. They should also be able to help you negotiate for your best interests and help you get the best deal possible. Once the seller accepts your offer, your agent can help you finalize everything, reviewing the final inspections, any contingencies, the walkthrough, and the final appraisal. Once the paperwork is signed, viola — You will receive the keys to your new home!
