Buyer Tips
Buying a new home

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7 Reasons to Own Your Home

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. Consult your accountant to find out how it benefits you.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
 
Consult your realtor to see how these REASONS can benefit you! Click Here

Buyer Tips

	Know what you want. The last thing you need is to close a deal and realize you bought a house you don't want. Ask yourself what you're looking for in a home, before you shop. Think about size, commute time and necessary repairs.     Be a smart consumer. Know how to shop for a home loan that's right for you. We can assist you in learning the financing basics - contact us!     Get pre-approved. This takes very little time and lets you know the price range that fits your lifestyle.
	Keep your debt load to a minimum. Don't make major purchases or incur any additional debt until after your purchase. Pay down credit cards and don't apply for new ones. Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly house costs should not exceed 28 percent of your gross monthly income.     Be prepared to view new properties quickly. Sometimes homes sell quickly, so be ready to make fast decisions. Be accessible to change the terms.     Have instant access to your agent. Instant communication can mean the difference in purchasing the property of your choice.     Submit a strong competitive offer.     Include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the deposit.     Try to minimize the number of contingencies. Fewer contingencies mean a stronger offer.     Hire an inspector. A professional building inspector or appraiser will make sure the house of your choice is in satisfactory condition     Check zoning regulations and covenants. Good residential neighborhoods will be zoned to keep out commercial and industrial users. Read any restrictive covenants and make sure they fit your lifestyle.   Request an updated property survey. Be sure it clearly marks boundaries. Check for problems.   Make sure you know what stays or goes. Your contract should be very specific about which items (appliances, etc) are included in the sale.   Get agreements in writing. Make certain verbal agreements are written into the final contract to avoid any stressful and expensive issues later.
	If you have further questions we are happy to assist you! Contact us.

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