On Making Your Homeownership Dreams Come True

It has been said that owning a home is the best investment. It benefits financially, psychologically, and environmentally. And as Mark Twain once famously said. “Buy land, they’re not making it anymore.”

But the decision isn’t always about what I should buy, but what kind of house should I buy? Here are some tips shared by A-Plus Moving Solutions to help you out.

Look to the Professionals

This is where an experienced real estate agent can be invaluable. They know the market trends, the inventory, and the current lending rates, and are excellent partners when it comes to negotiating a sales price for you. They’ll also be able to point you in the right direction when it comes to mortgages. If you are a first-time home buyer, navigating the mortgage market can be intimidating. The good news is that there is help available, and there are many mortgage products designed to help you as a first-time home buyer.

Once you feel more comfortable with understanding the mortgage process, begin evaluating the local housing market of your area. You’ll want to consider the condition of the local market as it may be out of step with national trends. It’s also important to evaluate other factors, such as the climate and local school quality.

The Pros and Cons of Purchasing a Starter Home

A smaller home and a location in a less affluent area mean property taxes are lower. Smaller homes require less upkeep and utilities such as heat and air will be less expensive. Buying a starter home means putting less investment into upgrades or refurbishing since the buyer doesn’t plan to live there that long.

If you can hold on to it while taking some of the equity from it for a down payment on your forever home, it can be a means of investment as a rental property.

Some disadvantages to buying a starter home may be that older homes will require more upkeep and more frequent repairs and if the area of town continues to lose value, so will the home.

When it’s time to sell your starter home, you’ll want to get the maximum amount possible, so it’s worth doing a little investing at the front end. If you can slowly upgrade the appliances, flooring, and tiles at an affordable price, it may very well end up bringing you far more in terms of a resale price than their initial costs. Gradually putting effort into landscaping for curb appeal later will also mean a bigger payoff when you sell. A fence is another desirable feature for home buyers. Before meeting with a fencing company to get a quote and discuss your needs, you can evaluate companies by reading reviews online. If you’re worried about costs, you can also research which companies are currently offering deals or credits.

The Pros and Cons of Purchasing a Forever Home

Some advantages to buying a forever home are knowing you’re there to stay, allowing you to put down roots. This also allows your children to stay within the same school systems and near their same groups of friends.

You can customize your forever home without having to weigh the resale value of those upgrades. Having a larger home means you won’t be cramped when your family grows. And finally, you’ll have peace of mind knowing that you’re not facing a move in the short term.

Some disadvantages to buying a forever home are that the cost will be higher, including the down payment and closing costs, which could make paying for it a struggle. A larger, more expensive home can mean larger, more expensive repairs and upkeep. And finally, it will take longer to build equity in a larger home than with a starter home.

Keep in mind that if you’re having trouble with the down payment, there are options available to help. For instance, grants and loans are two of the most common types of assistance, but there are also programs that offer tax credits. Down payment assistance can come from a variety of sources, including government agencies, non-profit organizations, and even some employers. With so many options available, there’s no need to let the down payment stand in the way of homeownership.

It’s an Investment

It’s important to protect your investment by purchasing insurance for your home. Homeowner’s insurance, however, only covers damage to your home’s structure, theft of belongings, and injuries that happen on your property. If you want coverage in case home systems or appliances break down, you’ll need to invest in a home warranty. This is an annually renewable contract that can cover breakdowns to your heating, cooling, electrical, and plumbing systems, along with covering appliance repairs. Before choosing a home warranty company be sure to spend sometime reading home warranty reviews to find a policy that fits your needs and budget.

Owning a home comes down to individual preferences and needs, but where you live should make you happy, secure, and proud. Just make sure you have enough cash to afford your property and all the costs (look into assistance if necessary), consider getting insurance to protect your investment, and decide whether you want a starter or a forever home. With all of these pieces lined up, your dream of home ownership can come true.

A-Plus Moving Solutions provides licensed and insured moving services to help make this big day as stress-free as possible. Call 813-702-3988 for a quote.