After taking a look during the day and making a decision, there was a family that checked the neighborhood atmosphere in the evening just before signing the contract. It was a property in Palisades Park, and I found out too late that the quiet alley during the day was crowded with parked cars from nearby businesses in the evening. Although I couldn't cancel the contract, I regretted that I would have made a different decision if I had known in advance.

The median sale price in Palisades Park has been around $1 million based on the last three months. According to Redfin data, it has decreased by 0.54% compared to the same period last year, while the price per square foot has actually increased by 4.1% to $497. The average market exposure time is 79 days, down from 121 days last year. In May, there were 30 sales, an increase from 21 last year. It seems that transactions are gradually becoming more active. The decrease in market exposure time means that the time given to make a decision after viewing a property has also shortened, so finishing the site visits and paperwork in advance helps maintain peace of mind.

Here are the things to check before signing a contract, organized in order:

• Explore the neighborhood at different times. Noise and parking situations can feel different during the day and evening, as well as on weekdays and weekends.
• Get pre-approved for a mortgage first. If you start looking at properties without pre-approval, you might miss the opportunity to make an offer when you find a home you like.
• Maintain inspection conditions. Even if you're worried about competition for offers, it's safer to keep conditions as negotiation cards rather than giving them up.
• Calculate property taxes in advance. The average effective tax rate in New Jersey is 2.23%, and in Bergen County, it's around 1.69%, so for a home in the $1 million range, it's good to expect around $17,000 annually.
• Set aside closing costs separately. If you don't calculate about 2-5% of the sale price, you may run out of funds after the down payment.
• Compare multiple lenders. If you decide based only on the terms of the first lender, you might miss out on better rates.
• Maintain your credit status. Even after your offer is accepted, if you make large purchases on credit cards for furniture or vehicles, your debt ratio may fluctuate, potentially changing your loan terms at the last minute.
• Keep a reserve fund. If you put all your funds into the down payment, you will lose the ability to respond to unexpected expenses right after moving in.

It's good to consider how many years you plan to live there, whether the commute distance is acceptable, and if there will be steady demand when you resell later. Palisades Park is known for having relatively steady resale demand due to its school district and accessibility.

Palisades Park has many areas where commercial and residential zones are closely located. Depending on how far the property is from shopping areas, noise and parking conditions can vary greatly, so it's better to check in person rather than just judging by a map. Comparing it with neighboring Fort Lee or Leonia makes it easier to gauge what kind of living environment you can get within the same budget. If you still have doubts after completing visits during both day and evening, it's not too late to take a day or two to revisit.

This area is also sought after by Korean families due to the school district. While referring to ratings from GreatSchools or Niche, please check the assigned school again for the specific address, as school district boundaries often change. If you are coming from another state, it's best not to assume property taxes or neighborhood atmosphere based on your previous residence. Comparing lenders is also an important item to take care of. By getting estimates from at least three places, you can see that even with the same conditions, the monthly payment amounts can vary significantly. Keeping some reserve funds instead of putting everything into the down payment allows you to respond comfortably to unexpected expenses in the early days of moving in. It seems wise to not end your site visits with just one, but to explore two or three times at different times to reduce regrets later. This article is not investment or legal advice, and I recommend consulting with a professional before finalizing any contracts.