The sun is high and hot—and so is the competition for buying a home.
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
It’s frustrating to have a decent-paying job, a bright earnings future and acceptable credit and still not be able to buy a home because you lack the thousands of dollars in cash needed for a down payment and closing costs. The dreaded down payment stops more potential homeowners cold than any other aspect of the loan process. To read articles about down payment headaches one would think it’s only millennials who have trouble coming up with the funds. In reality, most would-be first-time homebuyers, regardless of age, find saving up 20 percent of hundreds of thousands of dollars challenging. Sure, you may qualify for a loan with a lower down payment, but do you really want to add to your monthly house payment by purchasing the mandated private mortgage insurance policy? That’s what’s required if you don’t have 20 percent equity in a home you purchase.
Topics: Real Estate
If you're looking to sell your home during prime house-shopping season this spring, you'd better get cracking now. After all, it's not as easy as slapping an ad on Craigslist; if you want your humble abode to stand out from the competition here in Idaho, it could take months to do right. So, here's how to whip your place into shape by fixing any problems and upgrading the eyesores. Because like it or not, your home has sustained some wear and tear over the years. Here's how to assess the damage and find out which renovations will pay off down the road and get you top dollar here in the Treasure Valley.
Topics: Real Estate