You may have questioned if buying a home is right for you.
Here are three key factors that may help you in deciding.
1. Do you plan to live in a certain area or location at least two years?
Often times people doubt if they want to buy because they are afraid they may not live in that location for very long. Did you know in East Texas the average rent per month is $1,100. If you lease for two years at $1,100 you are loosing $26,400. That is $26,400 that could be applied to a home of your own in return building your own equity.
2. Is having a large down payment holding you back?
There are many people who believe that they have to have 20% down in order to purchase a home. Over the past decade the government has made many improvements to government insured loans. The average home buyer is able to put down as little as 3.5% on FHA insured loans! Conventional is now at 5% down and USDA is up to 100% financing with no down payment. It has never been easier to own your home with little to nothing down and rates are lower then they have been in years. There are also government assistant programs also such as SETH, http://sethfc.com/option-1/
Go the Texas Department of Housing and Community Affairs website to see what you may be eligable for
3. Are you afraid to purchase a home only to end up with a ton of repairs?
Being responsible for your own home may be a little scary. Luckily when you purchase a home you should have the help and guidance of your very own realtor. The realtor can help you get in contact with an inspector who will inspect your home during a option period. If the home has to many repairs you may choose to back out of the contract or negotiate for the seller to repair the item. One of the benefits of having a realtor help you with the process is the guidance and advice they can give you. Though a realtor is not an attorney they are professionals in this field and can help. Your realtor will usually help negotiate a home warranty for one year one your new home. This can help you with the cost of any repair you may incur. There are several companies to choose from. Ask your realtor which companies they recommend.
Buying a home has never been easier! Get in contact today with your local realtor and find out what steps you can take to get started.
Rose Ranch Realty
"Let's Get Moving!"