Starting Down The Path To Homeownership

Starting Down The Path To Homeownership

Are you thinking about becoming a homeowner? Great here are the first steps to take to make sure you experience is a joyful and as stress free as possible.

  1. Get A Handle on Your Credit – this is the starting point of the home buying process and often the toughest to navigate for first time buyers. We will walk you through this along with our lenders who are highly skilled at not just lending but making the lending process make sense to the buyer. Once we have this part set and you know how much you can afford and have your gameplan we move on to a little recon.
  2. Scout some Potential Neighborhoods – take a look around neighborhoods you might be interested in and check them out during various times of day and at various times of the week. You want to find the neighborhood that best jells with you and only you can determine that so get out there and do a little recon and see where best matches you.
  3. Needs and Wants List – this will be a list that changes as you go through the process and see more homes but start with what you think the home must absolutely have and then a second list of what you want the home to have. After that add a list of things you absolutely do not want the home to have. These are your lists, there are no right or wrong answers just put what you think and as you see more homes revisit the list to make sure it accurately reflects what you want.
  4. Getting The MLS Listings – once you have a price range, a few neighborhoods or areas in mind and an idea of what you are looking for in your new home you then we can send you emailed MLS listings that match your criteria. This is really the only way to get real time listings that match what you want without the number of homes already under contract that come up on most internet searches. You want to see homes you can buy not homes you missed out on so once your ready we will customize a MLS search that will send you everything you should be seeing to your email.
  5. The Search Begins – once you pick a few of those MLS listing that you are interested in we will begin showing you homes, walking through and discussing them with you, helping you navigate areas and specifics about the homes, and will continue to do so until we find the right place for you to call home.

Once we have found the right home for you we will negotiate your purchase, work with your lender to make sure everything goes as smoothly as possible, attend the inspections, negotiate the repairs and be by your side the entire time until we are sitting with you at the closing table and can hand you the keys to your new home. If your thinking about becoming a homeowner feel free to reach out we will be happy to have our almost two decades of experience guide you to getting the right home for you with the least amount of hassle.

Sherry Swift

854 444 0772

sherry@tsg843.com


Rent VS Owning Why Owning Wins Almost Every Time

If you are thinking about becoming a homeowner here are some reasons to take the leap and one time not to.
Wealth Building – the reality is 80% of all wealth in the United States is real estate. Either way you look at it your building someone’s wealth if you own your building your own, if you rent your building your landlord’s. Homeownership is the one vehicle where equity, leverage and appreciation combine to build the wealth of the owner so take advantage of that if you can, so if you like building your wealth rather than your landlord’s owning is the way to go.
Painting Walls – once you are a homeowner for awhile it will seems odd that some people can’t just pick up a can of paint and paint their walls but rental properties are usually like that. Even when they will allow you to paint a rental you usually also have to agree to return it to the original condition and color otherwise be charged for it to be done. Painting is just the simplest of changes you can not usually make in a rental most remodeling from simply replacing lights and fans to changing the floors to major kitchen or bathroom remodels are off limits. You really wouldn’t want to put your money into those changes anyway when the landlord is who will reap the benefits. So if you like the idea of making a house your own personal home owning is the way to go.
Tax Savings – whether you rent or buy every month you have to make a payment, the difference is part of the payment of ownership is tax deductible and none of the cost of renting is (though oddly enough landlords can deduct part of their ownership costs as well). There is no tax benefit to renting while for owners the tax benefit is usually one of their biggest tax savings, so if you like the idea of paying less taxes owning is the way to go.
Stability – once you own a home you become part of a neighborhood and an area and you know where you are going to be calling home for a good while so it creates a sense of stability. You also know how much your payments will be and don’t have to sweat over annual rent increases or worry that the home you are renting is going to be sold and you get a notice to move so there is that additional stability, so if you like the idea of stability owning is the way to go.
Cheaper in the long run – between the costs of moving, security deposits, and rental increases owning a home is always going to be cheaper in the long run. Folks renting a home right now are paying more for rent than someone who bought the home right next door five years ago is paying for their mortgage. In fact the only reason people can become landlords and rent homes to others is because they know they will be paying less to own than the rental rate and that difference will go up greatly over time as rental rates rise and their mortgages stay the same. So if you like saving money in the the long run then owning is the way to go.

Ok so there are 5 reasons to buy but what about the reason not to? Well I would say the one time you wouldn’t want to buy and be better off renting is if you know you won’t be living in the same area for 2 years AND you have no desire to keep the home as a rental property, in that case rent for the less than 2 years then when you get to the area your heading to then look at buying so you have build wealth, make it your home, reap the tax savings, enjoy the stability and save a ton of money in the long run. We have been helping buyers find their next place to call home for almost 20 years so if your thinking about taking the leap to homeownership we would be happy to sit down with you go over your options and help you get on the right path to a place you can call home.
Sherry Swift
sherry@tsg843.com
854 444 0771