For people considering buying a home for the first time, things can be a bit intimidating. You just have to keep in mind the benefits far outweigh the risks.
Renting instead of Buying. Plain and simple, renting an apartment or a house will not build equity. Your payments are not providing any financial benefit to you. Once you know you are ready to take the step into home-ownership and you are financially prepared to do so, do not procrastinate. Even if you know you might be moving or know you will eventually want a larger or newer home, buying a house now just might prove to be a sound financial investment. If you can find a home at a decent price or a home that needs a bit a work that you are not afraid to tackle, the equity you build up has the potential to provide a much-needed down payment on a home you can plan your future in.
Though most people probably agree it is not the ideal time to buy a home, home shopping in the winter can lead to some great opportunities. You might find yourself in a position where you need to move during the winter (new job, losing your current rental, family illness), or perhaps winter is the only time you can really fit home shopping, and all of the glorious activities that go along with buying a new home, into your family’s busy schedule. Whatever the reason, we have outlined what you should know about winter home hunting and buying.
Buying a condo is often a more affordable option for those looking to purchase real estate but are unable to afford a single family home. In addition, condos often offer conveniences such as swimming pools and gyms that you might not be able to consider if you owned your own home. However, there are many important things to look into when considering the purchase of a condo.
First time homebuyers have a lot to consider, and one of the biggest decisions they need to make is:
Do you purchase a starter home to get into the real estate market even before you can afford the style of house you ultimately want to be in, or should you focus on finding a forever home where you can stay long term even if it means stretching your budget, or wait longer?