There’s nothing like having a home to call your own. It’s the ultimate symbol of the American Dream—and for generations of homeowners, it has proven to be a wise investment.The potential benefits of home ownership include tax deductions, control over loan payment options and the accumulation of equity as the value of your home increases. Of course, you’re responsible for property maintenance—but you can also upgrade your home as you see fit. If you plan to live in one place for a few years, home ownership really makes a lot of sense.
Here are some considerations to keep in mind when you’re thinking about buying your first home:
- Location: Do you prefer city, suburbs or countryside? Do you want to live in an established neighborhood or a new development? Do you have school-age children? How do you feel about commuting time?
- Lifestyle: A lot depends on it. Do you want a big yard where you can indulge your love for gardening, or would you prefer a maintenance-free condo? Do you need extra bedrooms for a growing family or out-of-town guests? Do you enjoy renovating and redecorating, or would your rather find a home in “move-in” condition?
- Repairs: Fixer-uppers can be great deals—but if the house needs work, consider whether you’ll earn your investment back. Updates to kitchens, bathrooms, HVAC systems and roofs can all be costly. You’ll find a wide range of fixed and adjustable-rate mortgages available, including a number of programs especially for first-time buyers. Learn more about Renovation Mortgages, or contact a Mortgage Consultant for more information.
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Thanks, Robin for all your help with the quick closing on our VA loan. Needless to say, when we applied at the end of the month, we were extremely concerned that we would not be approved with everything ready to go to make our closing on the 12th. Given all the details, it was nothing short of amazing that you were able to work everything out and get us to settlement in less than 3 weeks. We really appreciate your hand work on our behalf. Thanks again.~ T. & H.S.