Benefits of Buying A Home

Are you on the fence between whether to rent again or buy your first home? Well, think about homeownership. Building equity for yourself instead of your landlord is a strong reason for many to buy. It also allows you to predict your expenses instead of having your rent increase or even worse, having to move unexpectantly. Owning a home means putting down roots and building a space that is truly yours. It is a remarkable moment of your life when you finally own a home. It also allows you to feel a sense of stability because you can stay in your home as long as you want.

Here are more things you may want to consider when you decide what to do next.

It turns out,  homeownership has more benefits than just the financial:

Homeownership...

You have decided to buy a home. We have seen many challenges that have caused issues from the offer to the closing table. What are the tips that will make your home buying successful? 

1. The first thing you need to do is make sure you have a pre-approval that will be help your offer stand out. Aren't they all the same? Not even close. In the case of multiple offers, the lender can be the deciding factor. Many buyers thing they have a pre-approval however they have only been pre-qualified. This is a fatal mistake. 

2.  Once you are pre-approved, be sure to not make any changes that will cause you to lose your approval. Yes you can lose your ability to get your loan. What could cause this to happen? Here are just a few changes that could be an issue:  changing...

Picking the right community and home is important when buying 

Buying a new home is more than bedrooms and baths. After helping home buyers since 1989 we know that it is about a lifestyle. As many different buyers there are, there is a right property out there for them. 

It is important to have someone on your team that can help you find the right property and the right lifestyle. Our process allows us to understand the picture of the dream property in the client's mind into our mind. How do we do that? We believe it is better to ask our client 50 questions and show them the right 5 homes rather than ask them the basic 5 questions and show them 50 homes. Let's face it, buyers are too busy to look at the wrong properties. 

When buying your dream...

Are you getting a tax refund? Did your paycheck go up due to tax reform or possibly a raise? It is really easy to think about doing something fun or go on vacation with the extra money. A moment of fun would be great however imagine if you invested that money in your long term future. 

Here are few opptions to consider:

1 . If you are renting, buying your first home is a great option to use your extra money towards a downpayament. We have tips for you on the 5 steps to buying a home. 

2.  If you own your home, it might be time to consider buying an investment property. 

3. If you are thinking of selling, a few improvements to your current home to improve the salability of...

There are challenges and opportunities for those in the medical field when it comes to buying a home. Many think that Doctors only have opportunities however after helping so many great clients we know that is not the case. Think about it, to become a Doctor it usually comes with a lot of debt from education. It takes many years and a lot of money to become a Doctor and that debt can take decades to pay off.

The great news is that there are loans dedicated specifically for those in the medical profession that look at the equation of income and debt a bit differently. 

Now there is even more help for those in the medical field that are not doctors however have different medical and dental specialties. The programs allow for less downpayment (more like a FHA loan) without mortgage insurance. That can be a great savings. 

If you are in the medical or...

Are you looking to buy a home in 2018? There are some common mistakes that could cost you the home that you want. During the past week, we have seen buyers make the 3 mistakes that has caused them to hear bad news instead of having their offer accepted. 

1.  Buyers using Zillow to look for their dream home, especially in competitive price ranges. The challenge is that Zillow is not real time. Many of the homes are already sold since real estate agents have access to the homes for sale first. Searching in real time is critical. This issue is one of the reasons that we have a competitive website that is real time so buyers have accurate information including whether a home is still for sale or already under contract.

2. When finding the right home, making low offers and taking too long to negotiate the deal. Until a contract...

If you are buying a home in a seller's market, it can be frustrating if you don't have a plan. Finding a home that you love only to hear that it is already sold or that the seller has accepted another offer is never what a buyer wants to happen.

So what should you do? 

When the right home comes on the market, you need to be available to see it and make a strong offer if you are interested in the home. Time is not your friend when you are in a seller's market situation. Neither is not having all of the right information to make your offer as strong as possible. If you are getting a mortgage, having a lender with a great reputation and a solid pre-approval is key 

Price to a seller is important however so are terms.  Make the offer as good as possible. Bringng a human factor to the offer is also helpful. 

When you are buying, having a Buyer's Agent can make the difference in your home purchase experience. Treu Group Real Estate has a proven process to help you find...

Are you thinking about buying a more expensive home? Did you serve our Country and have VA financing benefits? One thing that many buyers don't know is that there is not a cap on financing with your VA loan.  Really?  Yes really.  

With your VA loan, you can get a loan for $424,100 with 100% financing. That is pretty amazing. So what happens if you want to buy a home for more than $424,100.  Out of luck? Have to put the difference down as a down payment? I have great news for you, no you don't.

So here is the concept of how it works:

$424,100 is 100%

Above $424,100, the rule of this is that Veteran needs to pay $0.25 for every $1 above. 

So if you are buying a $600,000 home here is an idea of what the numbers would look like:

Purchase price $600,000

Difference between $600,000 and $424,100 = $175,900...

Millenials have a new challenge to buying their first home with increased student debt and less opportunities for earning income. Saving money for a down payment and closing costs have become a real challenge for many first time home buyers. 38.4% of millennials are living at home between the ages of 18-34. 

So what is the solution? The first advice I alway give is your 1st home likely won't be your dream home. The goal is get into the real estate market. Making good decisions is critical with an ideal on your exit strategy. Yes, you need to think about moving when you are buying. That does seem odd right? It is not actually. Will you sell it? Or will you rent it? Why does this matter? It matters because it might impact the type or area that you purcase in. 

The challenge for many first time home buyers is the deposit. Often, if you...