According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision:
- Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord
- Homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire
- Homeownership is an investment opportunity that builds long-term wealth and increases net worth
- Homeownership means a stable and predictable monthly mortgage payment
- Homeownership allows for various deductions on federal, state, and local income taxes
Homeownership has always been and still is a crucial part of the American Dream.
GUIDE TO BUYING A HOME
Buying a home usually represents your single biggest investment .
The home buying process is one of the most exciting, and frequently stressful, experiences you’ll ever go through. This holds true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market for a new primary residence, an investment property or that perfect vacation getaway. Today’s real estate market can offer more opportunities, yet can be filled with more risks than ever before. There are a multitude of factors to consider and decisions to make when Buying a home . When buying, it’s crucial to have all the available resources necessary to make a well-informed decision, together with the time required to make use of them. It’s important to enlist the help of a trusted real estate professional ” Keith Kreis “who’ll be able to provide expert guidance at each step of the buying process. Finding and Buying a home includes the following steps, which we’ll examine in more detail throughout this booklet:
What to consider when buying a home – 5 things you should know as a buyer
If you are a like a majority of the US population, when it comes to buying a home, you are likely going to rely on financing and working with a mortgage lender. Many people tend to feel overwhelmed at the process of choosing a lender, interest rates, and the process of buying a home in general. With the right agent by your side, and with the right information in hand, you shouldn’t be worried about the process. Consider these five factors when purchasing, to ensure you find the lowest rates, and the right lender for your mortgage needs.
1. How much does it cost? –
Understanding the true cost of home ownership is the initial phase of purchasing a home. Your ownership costs consist of 4 major categories which are: the principal, interest rates, taxes, and insurance. Your mortgage payment is made up of the principal and interest rates; interest will pay borrower fees while the principal amount pays down the overall balance due on the home. Amortization calculators come in handy when calculating ownership costs.
Property taxes are valued at 1.2% annually,, of the home’s… Continue reading below