A Different Class Of New ConstructionThere tends to be a trend with New Construction homes throughout the Sacramento valley these days and that trend is adding on additional cost. Most
Is Buying A Home Right For Your?
This is not a very common question that a real estate agent should as their potential clients but it is a very important question. Buying a home can be a great investment but it is not for everyone and now might not be the best time. Below I've listed some reason why it might be right for you.
Stability. Are you stable in your career and life right now? If so, then it might be a good time for you to buy if you plan on being in the same area for four or more years. If you want to change jobs or move to another city or state in the next few years it most likely won't make financial sense to buy a house as you more than likely won't make back the money you spent in closing cost and selling expenses.
Homeowner Responsibility. Are you ready to take on the responsibility of being a homeowner? Being a homeowner is not all sunshines and rainbows. There are many complex systems throughout the home that can be costly to maintain. With being a homeowner you are now responsible to maintain a home including the yard, exterior, roof, HVAC system, plumbing, etc. Now things like a home warranty can help mitigate some of the out of pocket cost but one should always have reserves set aside for a rainy day incase of these these systems needs repair.
Finances. Are you financially able to buy a home? While here in Sacramento, CA there are quite a few local and state run programs that provide down payment assistance and closing cost assistance there are still other out of pocket expenses during the home buying process. Typically when buying a home the seller wants you to submit a deposit which shows the seller that you are serious about buying their home. That deposit can range from $1,000 - 3% of the purchase price. Additionally, if getting a mortgage to pay for the home the lender will require an appraisal which can range from $450-$600. Seperate from the appraisal I always recommend my clients get a whole house inspection to the buyers can know as much as possible about the condition of the home. A home inspection varies by the size of the house but can cost anywhere from $300-$600. Lastly, there are moving expenses such as the cost to rent a moving truck or hire movers and the cost of missed work if taking time off.
Those are just a few things to consider when deciding if buying a home is right for you. If you think it is the right thing for you to do, I would love to help you. Feel free to give me a call and let's make your dreams a reality!
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First, I'd like to clear up one common misconception about buying a home; the need to put 20% down. This no longer the case in today's market. While paying 20% down does have it's benefits