Buying Pre-owned homes - or - Foreclosed properties
Principle staff of this firm have personally performed many hands-on re-model/construction projects, and have developed an in-depth understanding of what tasks, time, and the costs might be associated with a desired change in your prospective home interest. Although we are not construction contractors, the generalized information that we can provide will be very helpful in your analysis and decisions. (NOTE: Always consult a trade professional in each element of construction/re-model work.)
Is this the right time for you to buy?
With the large current housing inventory, there are an number of very good home buys available. Meet with our staff to discuss your housing objectives, and to go over your financial situation. After an initial meeting you will have a good idea if you are moving in the right direction. You will get straight answers to assist you in your decision. Whether you are ready to buy now or in the future, we'll be available to help you with your real estate needs.
Buy or Rent ?
If you are currently a Renter the imposing question is: - 'should you buy, or continue to rent?'
As a true professional, it is our job to counsel you, taking into account your individual circumstances and help you make an informed decision. The outcome might be an answer of: No !. Therefore, it is not always better for you to buy instead of rent. Our job is not to rush you into a ill-timed home purchase, but one that's timely and of benefit for you!
- factors making it better to rent -
- If you are NOT going to live in the house more than 2 or 3 years. Having to sell soon after you buy, might require paying the commission out of your pocket. The house will not have appreciated enough to cover that expense in a year or so.
- Houses require maintenance; some require a lot of maintenance. You have to decide if you are the type of person who likes to do yard work and paint, etc. Purchasing a townhouse or a condominium is an alternative choice for people who don't like a lot of upkeep but still want the advantages of ownership.
- What are some of the benefits of buying instead of renting? -
- Tax breaks - Interest paid on your mortgage can be tax deductible.
- Building equity - With every payment you are building equity in your home.
- More space
- Able to decorate more to your liking
- Your own yard
- A sense of stability
If the tax break and building equity benefits of home ownerships sounds really great,
how can you find out more about this ?
It's very simple! You can ask us any question you may have on the tax benefits of home ownership, or how building equity can help you secure your financial future. No matter what your real estate question may be, we can provide the answer for you. Just use the 'Questions ?' button !
- 1. Use the experienced and professional services of 'New Value Homes' to help you reach your objectives.
- A home purchase is an important decision that could affect your future financial position. We are familiar with your areas of interest and will be there for you in the future, when it is time for you to move on.
- 2. Get Pre-Approved
- Let us work with you to identify your objectives for a home payment, how
much of a loan may qualify for, and get the approval up front. A seller, knowing
your pre-approved, will consider your purchase offer a stronger candidate than
an offer from someone who has no pre-approval.
Pre-approved" means your documents have been submitted to an underwriter and they have made a commitment to give you a loan, in writing. This approval is based on credit scores, salaries, length of employment, debt & housing ratios. Even though lenders have tightened requirements, there still remain some very creative loans available today.
- 3. Research the neighborhoods that interest you.
- Narrow down your choices. We will provide comparable sales in the area so you can make an offer based on fair-market value. Our experience and area knowledge will help guide any negotiations which may be necessary, so that you arrive at a solid sense of achieving good value in your home purchase.
- 4. Pay-off, or pay-down Credit card bills
- Strangely, not having a credit card could lower your credit rating. Therefore, having a credit card and keeping your payments current and balance on the lower end of the scale, can actually improve your credit scores.
- 5. Buy the house first - then the car
- Car payments will deduct from your ability to purchase a home.
- 6. Remember: Location, Location, Location!
- Everything else about the house can be changed.
Thank you for choosing - NewValueHomes - Real Estate