Buyers Guide

Buyers Guide

2017-04-20 02:04:43


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Owning a home is more than a smart financial investment; it’s an investment in quality of life –
particularly if you have a family or if you’re planning one. You can decorate or renovate however
you like, customize your landscape, rule the roost! It’s your home.

This guide provides a detailed look at the home buying process for first-time homebuyers. But
before diving in, ask yourself, “Is this the right time for me to buy?” The considerations below will
help to answer that question.

Owning versus Renting
Owning a home does come with risks and responsibilities that you don’t have to deal with when
you rent. Things like a mortgage, property taxes, homeowner’s insurance, home maintenance, and
repairs. Even so, financial advisors and homeowners themselves know that there are far more
advantages than disadvantages to owning.

For instance, over time you’ll generally lose money by continuing to rent versus owning your own
home. Why not build up equity in your own home instead of paying your landlord’s mortgage?
Although there are periodic market drops, owning a home has historically been an unequaled
financial investment. You gain many ongoing tax benefits, such as deducting the interest on your
mortgage and property taxes from your income tax.

Do you qualify to own?
Get your financial facts straight. Go to your bank or other lending institution and have them
perform a credit check and general financial analysis. Also, keep in mind that you may be eligible
for loans insured by the Veterans Administration (VA) or the Federal Housing Administration

Is it a good time to buy?
Generally speaking, if you’re financially qualified, and ready for change, your timing is right. The
bottom line is that if you are currently renting but want to own a home, have the funding, and the
right real estate professional to guide you - it’s a good time to buy.

An experienced real estate professional can assess the current local market conditions and fully
inform you about your options. As an industry insider, a professional agent will often get the scoop
on great real estate opportunities you might otherwise miss!

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