Buying your first home can seem like a daunting task. Between determining your budget, considering various neighborhoods, and having to go through multiple homes to find the perfect one can be time consuming and exhausting. But the truth is, if you know what to expect from the first-time home-buying process you’ll have a much easier time!
While there are a few important choices to make during the home-buying process, one of the very first decisions you'll need to make is whether you’ll buy an existing home or build a new one. Building a new home can be exciting and offers many advantages, but it also has drawbacks when compared to purchasing an existing home.
While purchasing a home is an exciting time, it’s also a significant financial investment. Before you get ahead of yourself, you must understand what lenders will be looking for when applying for a mortgage and the upfront costs of buying a home.
You’ve probably seen or heard of the popular HGTV television show “Love It or List It.” Two hosts work with people to remodel their existing home and also look for a new home that better fits their needs. At the end of the show, the homeowners are asked whether they will stay in their newly renovated home (“Love It”) or sell their home and purchase a new one (“List It”).
You’ve probably heard plenty of news about why now is an ideal time to refinance your mortgage. For most throughout the country, that is the absolute truth. Interest rates are at record lows, and that can translate into huge savings for homeowners.
If you have extra cash to invest, you may be wondering if you should pay off your mortgage early. Will that serve your financial interests best, or are there other options to consider? Here we discuss some of the benefits of paying off your mortgage sooner than needed and other alternatives you might ponder instead.
While selling your home can be exciting (especially if you’re upgrading to a new home), it isn’t always the quickest process. If you’ve lived in your home for an extended period of time, you probably have a laundry list of items you need to do to get it ready to sell.
Taking a mortgage out is a long-term commitment. What if we told you there are some simple ways to maximize your loan payments, minimize the time it takes to pay off your mortgage, and you can save a lot of money all at the same time?
Given the rather high upfront costs associated with buying a home, it’s no surprise most young people choose to start their independent lives renting instead. As they advance in their careers, save money, get married, and start families, most end up buying a home.
People who are looking to buy a house, especially first-time home buyers, hear lots of jargon they might not be familiar with. Between realtors, appraisers, and lenders, they may feel like they are trying to keep up with a whole new language!
