When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks its […]
One of the Top Reasons to Own a Home
January 20, 2020 by ·
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you […]
Homeowners Are Happy….Find out why
January 14, 2020 by ·
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that non-financial benefits might be even more valuable. In a recent survey, Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while […]
4 Tips to Improve Your Home and Save on Your Energy Bill
January 8, 2020 by ·
What should you spend on utilities? Money Management says, “If you’re working with a budget, and trust me, you should be, your utility costs should be no more than 8-10 percent of your monthly income.” How can you make your home more efficient? EnergyEfficiencyDay.Org provides some handy tips that can help you improve the energy efficiency of […]
Homeownership is the Top Contributor to Your Net Worth
December 14, 2019 by ·
Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth, “The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below): This does […]
Know What to Expect at Your Home Inspection
December 3, 2019 by ·
So you made an offer and it was accepted. Now, your next task is to have the home inspected prior to closing. An agent protecting your interests will recommend making your offer contingent on a clean home inspection. This contingency will provide an opportunity for you (if needed) to renegotiate the price you paid for the home, […]
Having a Professional on Your Side Makes All the Difference
November 27, 2019 by ·
In today’s fast-paced world where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, the addition of more information causes more confusion. Shows like Property Brothers, Fixer Upper, and dozens more on HGTV have given many an unrealistic sense […]
Starting the Search for Your Dream Home? Here Are 5 Tips to Help
October 25, 2019 by ·
In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of […]
Things to Avoid After Applying for a Mortgage
October 14, 2019 by ·
You have decided that you are going to take action to purchase your own home and have applied for a home loan with your Mortgage Loan Officer. Of course, you are going to obtain your Credit Approval from underwriting to ensure a smooth process. You’re undoubtedly excited and nervous about the opportunity and want to […]
Renters Paying Substantially More While Owning Costs Less
September 12, 2019 by ·
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.” Why the difference between the costs of renting versus owning? […]
