Buyer Help
Why Owning Real Estate Can Be A Smart Move
More families in the United States own their own home than ever before. Financially, it is getting easier to purchase real estate, with low mortgage rates and many loan programs aimed at new or first time homebuyers, although in many parts of the country, homes have become less affordable over the past several years, and have recently declined in value.
Benefits and Responsibilities
Benefits of owning your home include:
- Tax deductions on mortgage interest and property taxes
- Building equity, and the possibility of appreciating values
- Ability to leverage down payment funds
- Increased control over the property
The responsibilities and downsides of owning a home are:
- Repayment of mortgage loans
- Property taxes, assessments, and other fees such as insurance and HOA fees
- Not a liquid investment – depending on the market, it can take time to sell and property values are subject to change
- Maintenance and upkeep
With Careful Planning, You Can Make Your Home Search Less Stressful
If you’ve decided to make a move, you can make it go more smoothly by planning your home search and truly understand your wants and needs in a new home.
For example, have you decided that you need new construction? Are you OK with living in a homeowners’ association? Do you need to find a gated community that offers a clubhouse with sports and other activities? Do you own a boat, work vehicle, or pet that may not be acceptable in certain communities? Do you want to buy a condo, or is a townhome more to your taste? What part of town do you want to live in? Do you have growing children, and want to plan for their needs? Do you need a home a certain distance from work? How much can you afford for housing expenses each month? How much space do you need?
With a list of questions, priorities, and concerns, you will be better equipped to find the right home, and to help your REALTOR® in the home search process.
Do you need a real estate professional to assist you? Most homebuyers use a professional, although they may research the market on their own at first to help them prioritize. Consider that your REALTOR® is usually familiar with the area and the types of homes available, and can help you with all aspects of the process.
Information on how to find your home, make an offer, and conclude the purchase
For many homebuyers, the toughest part of their move is finding the right home. But there are many other steps to buying a home, and many issues to be prepared for. Understanding the steps to buying a home often reduces the anxiety home buyers face. This guide steps you through the process from start to finish.
I will help you with all of the following…
- Understanding What You Can Afford
- Determining Wants, and Needs
- Looking At Homes
- Making An Offer
- Getting From Contract To Closing
- At The Closing
- After Closing
