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Top
Ten Facts About Owning Your Own Home
1. Home ownership is a good investment.
Owning property offers advantages not found in the stock market, bonds, gold,
etc. It offers leverage and the possibility of appreciation in value. And unlike
other investments, you can use it while it’s working for you.
2. Money isn’t the only thing to consider.
Money is when you’re buying property, but remember, you’re buying
more than just a roof over your head.
3. Young people are not priced out of the market.
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.
Rentals are just as susceptible to rising tax, insurance, utility costs, etc.
and costs are passed on to tenants.
5. Your asking price should be based on neighborhood market comparisons.
The more realistic your asking price, the quicker you’ll sell. If the price
is too high, there will be a lack of buyers. Every month that goes by will cost
you in mortgage payments, insurance and taxes.
6. You can’t overlook the primary tax breaks.
Mortgage interest and property taxes are deductible, and can save you hundreds
of dollars every year.
7. Over-improving your property can be costly.
Adding too much to your home or making improvements that are too personal may
hurt your chances of a sale.
8. The waiting game is a losing game.
Many families put off buying a property until prices come down, but facts prove
that those who play the waiting game most likely will end up losing.
9. There’s really no best time to sell property.
If the real estate market is strong, you’ll get a higher price for your
property, but you’ll also pay a higher price for what you’re buying
(or renting). You may pay a higher interest rate on your new mortgage as well.
10. A good real estate agent earns their fee – and then some.
Many homeowners try to sell their own properties, but they usually find it difficult
because they don’t have a way to do it quickly, easily and at the best
price. Vermilion River Realty agents do – and that is how they can save
you time and money. Call us!
