Long Island attracts homebuyers nationwide with its coastal charm and easy access to NYC. With over 200K homes for sale in Long Island, you have plenty of options. But buying a house here can be challenging. You must get preapproved, check neighborhoods, and attend open houses.
With Houzeo, Long Island’s best home buying website, managing your home search is simple. You can look through the latest listings in the Strong Island, save your favorites, schedule showings, and submit offers, all at your fingertips.
👉 Download the Houzeo mobile app to simplify your Long Island home search.
At a Glance:
- Determine whether you’re purchasing a primary home, a vacation getaway, or a rental property, and choose the Long Island neighborhoods that match your goals.
- Set aside 30–45 days for mortgage pre-approval. Aim for a credit score of 620+ to stay competitive in Long Island’s fast-moving market.
- Explore FHA, VA, or USDA loans, and apply for Long Island programs like SONYMA Programs or Suffolk County Down Payment Assistance Program to buy new homes for sale in long island.
- Use platforms like Houzeo to search Long Island homes by city, price, or must-have features like pools, waterfront access, or hurricane protection.
- Schedule inspections for the roof, HVAC, and plumbing. In coastal areas, add wind mitigation and flood risk assessments.
- Expect 2%–5% in closing costs. After purchase, file for Long Island’s Homestead Exemption to reduce your property taxes.
7 Steps for Buying a Home in Long Island🏖️
The Long Island Housing market is not complicated at all. Whether you’re just starting your search or are already browsing homes for sale in Great Neck and other sunny cities, these 7 simple steps will help you move forward with confidence:
Step 1: Decide Your Homebuying Purpose
Whether you’re looking for a getaway or seeking an investment, knowing why you’re buying a home in Long Island is essential. It sets your expectations and helps you make smarter choices. Here’s what you should keep in mind:
- Primary Residence vs. Investment: Before buying a home in Long Island, choose the location that fits your lifestyle, whether it’s a neighborhood like Huntington, Manhasset, or Massapequa. For investment properties, consider homes for sale in Southampton, where tourism drives demand.
- Short-Term or Long-Term: If you plan to live in the house for only a few years, focus on neighborhoods with strong resale value and upward market trends. You can check out homes for sale in Fire Island or The Hamptons, where the housing market continues to grow.
- Space Requirements: If you’re looking for larger lots or big backyards, consider suburban areas like Garden City or Plainview. But if you prefer something easier to manage, condos in places like Smithtown can be a smart option. However, they often have smaller lots.
Calculate the cost of living in New York to get a detailed breakdown of expenses like housing, utilities, transportation, and more. 🏡
Step 2: Explore Financing Options
Before making a purchase, it’s important to understand the financing options available for you to make an informed decision. Here’s what you need to do:
1. Prepare Financially
- Check Your Credit Score: Lenders will check your credit score to determine if you’re eligible for a loan. Aim for a score of 500+ for an FHA loan and 620+ for a conventional loan.
- Calculate Your Debt-to-Income (DTI) Ratio: Lenders often use your DTI ratio to assess how much home you can afford. Keep your DTI below 36%, especially if you want a home in an expensive region like Kings Point, Cove Neck, and Sands Point.
- Set Your Budget: Ensure your budget includes Long Island property taxes, homeowners’ insurance, and potential flood insurance, particularly in Long Island’s coastal areas.
👉 Use a New York mortgage calculator to estimate how much property you can afford in the Strong Island.
2. Explore Loans and Assistance Programs
Down payments in Long Island usually range between 10% and 20%, but often vary based on the financing option you choose. You can also look for suitable Down Payment Assistance Programs (DPAs) to help you cover part or all of your down payment.
| Program | Description |
| FHA Loans | Require just 3.5% down and are ideal if you’re a first time home buyer in Long Island. |
| VA & USDA Loans | Offer 0% down with lower interest rates. Perfect for veterans or those purchasing homes in rural areas. |
| Suffolk County Down Payment Assistance Program | Offers up to $30,000 as a zero-interest, forgivable loan for first-time buyers. |
| Nassau County HOME Down Payment Assistance Program | Provides up to $50,000 toward down payment and closing costs. For this program, buyer must contribute at least $5,000 of their own funds. Moreover, home must remain owner-occupied for 15 years, or funds may need to be repaid. |
| SONYMA Down Payment Assistance Loan (DPAL) | SONYMA offers fixed-rate mortgages at competitive rates (around 6% in 2025) and includes a 0% Down Payment Assistance Loan (DPAL) of up to 3% to help first-time buyers on Long Island. |
Step 3: Get Pre-Approved for a Mortgage
The New York housing market is competitive, so get a mortgage pre-approval to show sellers you’re a serious buyer. In fact, 86% of sellers prefer buyers who are pre-approved. It also helps you negotiate better, and reduces delays in the transaction.
Shop around to find the best Long Island mortgage lenders—compare their programs, rates and terms. Once you’ve narrowed down your options, get pre-approved by submitting documents like proof of income, credit history, bank statements, and your ID proof.
Step 4: Dive Into the Long Island Market
Whether you’re looking at houses for sale in Panama City Beach or anywhere else in the Sunshine State, here’s how to buy smart:
- Online Listings: If you’re wondering how to buy a home in Long Island, starting with online listings is a good first step. Use platforms like Houzeo to search homes for sale by price, zip code, and more. You can also filter for must-haves like a backyard, waterfront view, etc.
- FSBO (For Sale By Owner) Homes: Explore FSBO listings, as they often offer more flexibility in price negotiations. This is because sellers aren’t paying 5% to 6% in agent fees.
Mastic is the nicest and cheapest place to buy a house in Long Island. The number of homes for sale in Mastic is on the rise, thanks to its safe neighborhoods and diverse job opportunities.
Step 5: Make a Competitive Offer
In Long Island’s competitive housing market, homes tend to sell fast. Make sure you focus on real estate comps for a more accurate picture. Here’s a checklist to help you craft a strong offer:
- Seller’s Name and Address: Don’t forget the basics, include the seller’s legal name and property address.
- Price and Terms: Offer a price based on Fair Market Value (FMV) and comparable sales. In high-demand areas like Great Neck, you might need to offer above the asking price to stand out.
- Down Payment: In Long Island, down payments usually range from 3% to 20%. In competitive markets like Nassau County, a larger down payment can strengthen your offer.
- Earnest Money: Boost your earnest money deposit to show you’re serious, especially in hotspots like Manhasset, and Garden City, where homes can go fast.
- Contingencies: Include protections like home inspection, financing, and wind mitigation contingencies. These safeguard you from issues like hurricane damage.
- Concessions: Request the seller to cover some closing costs. In Long Island, it’s common to negotiate repairs after the inspection, such as roof issues, HVAC problems, or plumbing leaks.
- Deadline for Seller’s Response: Set a 24- to 72-hour deadline to encourage a prompt reply. This helps prevent delays and keeps you on track for Long Island’s average 44-day closing timeline.
- Closing Costs: Expect closing costs around 2% to 5% of the home’s price, including title insurance, property taxes, and lender fees.
Step 6: Conduct Inspections and Appraisals
A standard home inspection in New York should cover:
- HVAC System: Ensure the air conditioning can handle Long Island’s heat and humidity. It is essential for year-round comfort.
- Plumbing: Check for leaks, corrosion, and water pressure issues, especially in Long Island homes built before the 1980s. These houses are more vulnerable to damage from humidity and salt air.
- Electrical System: Verify everything is up to code and can withstand storm-related power surges, which are common in Long Island.
- Roof Condition: Assess for storm damage, missing shingles, or age-related wear. It’s important in this hurricane-prone state.
- Foundation and Structure: Look for cracks, moisture, or settlement issues, particularly in flood-prone or sandy-soil areas.
If you’re browsing homes for sale in Greenport or elsewhere, ensure that you get a wind mitigation inspection for hurricane risk. Also, if you have a condo over 30 years old and higher than two stories, make sure you get a Milestone Inspection for structural safety.
Once the inspection is complete, your lender will order a home appraisal to confirm the property’s market value. This step ensures the loan amount aligns with what the home is actually worth. It can impact final loan approval, especially if the appraisal comes in low.
Step 7: Close on Your Long Island Home
Almost there! Closing usually takes 30–45 days, from signing the contract to getting the keys in your hand. Here’s what you can expect:
- Final Walkthrough: Make sure all repairs have been completed, and the home is in the agreed-upon condition.
- Buyer Closing Costs: Expect to pay 2%–5% of the home price. This includes title fees and lender charges, plus prepaid taxes or insurance.
Once you sign the dotted line and transfer the escrow—congratulations, you’re officially a homeowner. Grab those keys and cue your happy dance! 🎉
What Should You Do After Closing?
Welcome home! Now it’s time to handle a few must-dos to protect your investment:
- File for Homestead Exemption: If the home is your primary residence, apply for Long Island’s Homestead Exemption to reduce your property taxes. You could get up to a $50,000 reduction in taxable value—especially valuable in high-tax areas like Greenport.
- Set Up Utilities: Get water, electric, internet, and trash service connected, often through FPL. And don’t forget pest control, especially in humid areas like Islip, Babylon, Oyster Bay, and Massapequa, where bugs are active year-round.
- Get Insurance: Homeowners insurance is required if you’re financing, and flood insurance may be needed in FEMA zones. Rates are higher in coastal areas like Fire Island and Port Jefferson due to hurricane risk.
- Home Maintenance Plan: Schedule AC tune-ups at least twice a year, clear gutters regularly, and inspect roofs for storm damage or algae buildup. Consider wind mitigation upgrades to reduce insurance costs.
How to Buy a House in Long Island Without a Realtor?
Start by researching neighborhoods and browsing listings on trusted sites like Houzeo. Then, schedule showings directly with sellers or their agents. You can also hire a real estate attorney to review contracts and handle legal details.
Next, get pre-approved for a mortgage, make an offer, schedule inspections, and negotiate repairs. With the necessary due diligence, you can buy a house without a Realtor.
Should You Buy a House in Long Island?
Absolutely! Long Island offers incredible opportunities for homeowners, whether you’re buying for investment, residence, or vacation. Moreover, with more homes being sold below the list price, now’s the best time to buy a house in New York.
Whether you’re attracted to Nassau’s suburban convenience or Suffolk’s coastal towns, Long Island has it all. There’s a neighborhood to fit every lifestyle and budget. So if you’re house-hunting, explore our list of the best places to live on New York!
