Skip to main content

3 Questions to ask before buying your first home

3 Questions to ask before buying your first home




The real estate market is constantly changing, so of course DO YOUR RESEARCH! DO NOT jump the gun on this one! Unbiased advice from family and peers may be kind, but you are the only one who knows what your needs are when it comes to buying a home.


WHAT MADE YOU CONSIDER OWNING A HOME?


Forget finances for a minute and focus on what made you consider even buying a home in the first place!

·      Is your family expanding?
·      Does your family feel safe?
·      Is there a STELLAR school system in the area so your children can get the education they deserve?
·      How about that unbearable landlord?


WHICH WAY IS THE REAL ESTATE MARKET GOING?


DON’T SLEEP ON YOUR DECISION TOO LONG! Home prices are on the rise! Not only are they on their way back up, but these increases are happening monthly.
Don’t believe us? According to Existing Homes Sales Report from the National Association of Realtors (NAR), the average price of homes in May 2017 went up 5.8% from last year.
If you wait until next year to buy, you might be scrapping for change in the cushions to say the least! Not only will it cost you more to buy, but you will also need to increase your down payment to account for the higher price of the home.

WHAT IS THE MORTGAGE FORECAST?

The initial process of purchasing your home may seem easy and quick, but THERE IS MORE TOO IT! The ‘long term cost’ of buying a home WILL haunt you if you buy at the wrong time! Mortgage Bankers Association (MBA), and NAR have projected that mortgage interest rates will DEFINITLEY increase over the next twelve months. The smallest increase in mortgage rates can have a huge impact on a home owner.

FINAL THOUGHTS

If you and your family feel it is the right time to buy a home then GO FOR IT! Consider these points when making the final decision.
Don’t forget, this move is FOR YOU!

Comments

Popular posts from this blog

Don't replace your agent with the Internet!

With the influx of new technology and web based solutions, it isn't a surprise that everything is moving fast into the era of the internet. From sites like Uber to Grubhub, we generally can pull up our phones or laptops to order what we want with ease. And with every industry being revolutionized by technology, the same methods are "attempting" to be applied to the real estate industry.  We could all agree that the simplification of the process through paperwork would be much appreciated by agents and buyers/sellers alike; but the attempt of replacing the agent by sites like Zillow and other third party resources, can lead to a snowball affect of disaster. Think about real estate being smack dab in the middle of fast food and a doctor. You can use your mobile device to quickly place your order for a $20 meal, but when it comes to getting a surgery, you'll want to put that phone down and visit a professional. Now think of your real estate agent being in the mi...

2020 Pantone Color of the Year – Classic Blue

2020 Pantone Color of the Year – Classic Blue Drum roll please – Pantone has chosen Classic Blue as their color of the year. Over the past couple of years, bold colors on walls have become commonplace in designer magazines and new model homes. Bucking the old guidance of using bland, light hues to make rooms look larger, deep greens, rich reds, and even soft blacks are used in even the smallest spaces. This year, Pantone has chosen a fresh Classic Blue to inspire homeowners and designers in 2020. Classic Blue just what it sounds like – a classic. Think of your favorite sneaker or school binder and you’ll be right on track. Described as a calming, familiar azure, Classic Blue is an uncomplicated, straightforward tone intended to provide a “neutral” backdrop for modern color palates and urban chic styling. Modern interior design has been trending towards more unassuming color schemes for furniture, flooring, and accents. Kitchens sport sleek white cabinets and subway tile cou...