1. Home ownership can be a good investment opportunity. Home ownership offers a combination of advantages not found in the stock market, bonds, gold and other investments. Home ownership offers leverage. It offers the possibility of appreciation in value. And unlike most other investments, you get to use it while it's working for you.
2. Money isn't the only thing to consider. When you're thinking about buying a home, money is important, to be sure. But remember, you're buying more than just a roof over your head.
3. Young people are not priced out of the housing market. Statistics clearly show that younger persons make up a large portion of today's home buyers. According to the National Association of Realtors, the median age of first-time buyers is 28 years.
4. Renting does not protect you against rising occupancy prices. Rental units are just as susceptible as houses to rising tax, insurance, utility and maintenance costs. The landlord will pass those added costs on to tenants - if not month by month, then as each lease is renewed.
5. Your asking price should be based on neighborhood market comparisons. The more realistic your asking price, the quicker you'll sell your home. The rumor mill tends to make many sellers think their homes are worth more than they really are. If too high a price is set, the house could languish for lack of buyers. And every month that goes by will cost you that much more in mortgage payments, insurance and taxes.
6. You can't afford to overlook the primary tax breaks. Mortgage interest and property taxes are deductible. These two big-ticket items can save you hundreds of dollars every year.
7. Over-improving your house may be a costly mistake. Consider your improvements carefully. If you add too much to your house, you risk pricing it out of the market. Also, if your improvements are too personal, you may hurt your chances of a good sale.
8. The waiting game is a losing game. In recent years, many families have put off buying a house, waiting for prices to come down. The facts prove that those who play the waiting game most likely will end up losing.
9. There's really no best time to sell a house. If the housing market is strong, you'll get a higher price for your house. But then you'll have to turn around a nd paya higher price for whatever else you're buying - or renting. And, you may have to pay a higher interest rate on your new mortgage as well.
10. A good real estate agent earns his or her fee- and then some. Many homeowners try to sell their own homes. Unfortunately, they find it difficult because they don't have a systematic way to do it quickly, easily and at the best possible price. Wren-Kilgore Realty agents do - and that's how they can save you time and money.