When it comes to life’s milestones, buying your first home is right up there with getting married, having a child, or starting a new career. It’s an exciting time that often comes with a large dose of stress and anxiety. As a first-time buyer, it’s easy to start second-guessing yourself, wondering if you’re making the right decisions.
If you’ve ever thought “Maybe I should sell my house to a family member,” you’ve likely also wondered whether or not it’s a good idea. The sale of a home to a family member is possible, legal, and can be very easy for everyone involved.
When some homeowners begin to think about selling, they anticipate making a nice profit with plenty to put down on their next home — particularly in today’s seller’s market. However, many sellers don’t realize that there are hidden fees when selling a house and that those fees are deducted from the purchase price.
As the weather heats up, so does the housing market. That’s because buying a house in summer comes with advantages like great weather for moving, and kids being out of school.
Are you faced with a change that requires you to move right away? Whether it’s due to a new job, a family emergency, or you’re looking to switch districts before the next school year begins, selling a house quickly doesn’t have to be as stressful as you think. Working with the right agent can ensure you get a good price for your home without having it sit for very long.
Most of us have watched HGTV shows where a couple has a certain budget for buying a house. They look at three houses that fit within that budget and choose the one they like best. While programs like this are considered reality TV, the budget that the buyers have is often not realistic. Sometimes they say they have $200,000 to buy a house plus another $100,000 for renovations, when in reality the producers are picking up part of the rehab bill. Or, the buyers on TV have millions to spend on a home on the West Coast — which is just not possible for the average viewer. Not only that, it’s a much different housing market here in the Midwest, where a modest budget can go much further.
Getting a home ready to go on the market takes some time, effort, and money. Selling a house “as is” can sound tempting. And in certain circumstances, the speed and ease of an as-is sale is a great option. But the downside to not lifting a finger or spending a dime is that you’ll likely have to settle for a rock-bottom sales price.
With today’s high rent prices, it makes sense to wonder if purchasing a home is a better option. However, it’s not always easy to save a big chunk of money to put down upfront — especially if you’re a first-time home buyer. The good thing is that there are lending programs designed for buyers with very little savings, and some even make buying a house without a down payment possible.
Conventional wisdom has always said that springtime is a great time to sell a house. Statistics from the National Association of Realtors confirm this. March sales activity typically increases by more than 30% from February and continues to go up into the summer months.
It’s no surprise that buying a house is the American Dream. It means not having to hear neighbors above you, being able to paint the walls whatever color you choose, and having a yard for entertaining. But buying a home is a big investment, and many wonder if it is a good investment.
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