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Tackling the Age Old Debate of Renting vs. Buying a Home

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As young adults move out on their own, they start to look for a place to call home. For some, that means renting, while others are looking to put down more permanent roots. Both options have their merits. If you are trying to decide what is right for you it is important to ask yourself some really important questions. These will help you choose the next logical best step.
Are you planning to stay in the area? For some people the thought of settling down is the furthest thing from their mind. Others are ready to find a place not just to live, but to call home. If you intend to stay in your location for a considerable time, you might want to purchase a home. If you are just not sure where the wind will take you, renting is a better option. Can you grow with a home? Many people purchase their first home assuming it will be a starter home only to stay longer than they originally anticipated because the market was not as kind on their investment as they had hoped. It is important to keep your …

The Best Time to Buy or Sell a Home

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You’re thinking about buying or selling a home. Eventually. But you know timing matters when it comes to such an enormous, and potentially life-changing, event. Which begs the question: When IS the best time to buy or sell a house? And does such a moment exist?
If You’re Buying...
The Best Month? January
This is especially true if you are buying in an area with a cold, winter climate. There is less competition from other buyers during this time which leads to sellers being more motivated. However, this month holds true no matter where you’re buying due to the sheer fact that people tend to overspend during the holidays and can become financially insecure. A fact that can work in your favor as a buyer.
The Best Day? The 1st Tuesday Why the first Tuesday? It makes perfect sense when explained. The seller no longer wants the home that he or she is continually writing mortgage checks to pay for. Those payments are usually due at the beginning of the month. Open houses or home viewings predomi…

The Newbies Guide to Purchasing a Home

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Buying a home can be thrilling and overwhelming. If you are a first-time homebuyer, those emotions can be even more extreme. It can be difficult to know exactly what to expect and the learning curve can be steep, but most of the issues can be resolved by doing a little homework. Check your credit - Your score is among the most important factors when it comes to qualifying for a home mortgage. You are able to obtain a free credit report every year. Take some time to review it for mistakes and be prepared to explain any unpaid debts or collection actions. Additionally, it is important to remember, that payments are not the only thing that plays into your credit score. The amount of credit you're using compared to your available credit can also be crucial in your score. Repairing damaged can take time. Begin the repair process at least six months before shopping for a home.Space versus location – When you are a first time buyer, choosing the right home is often about compromise. If yo…