your GA home blog

Dream Homes in Gwinnett, Dekalb, Fulton & Fulton Counties

Archive for the category “Dekalb Couty”

Why Rent When you Can Buy!!

Home ownership rates are the lowest they have been in the last 50 years. Yet a large portion of Americans are still renting properties, instead of enjoying a home of their own. Consumer reports believe this is an issue because of a buyer’s lack of trust in their ability to purchase. It is still a long standing notion that a buyer needs 20% towards the cost of the home in order to move forward, but this isn’t true. With countless down payment assistant programs, and closing cost roll-ins, a home owner could move in with as little as a few hundred to a couple thousand dollars. Which is a huge difference in the time it takes to save up to make the move.

With interest rates at an all time low, home ownership in today’s market is a great investment. The money saved over a mortgage’s lifespan can result in tens of thousands of dollars, if not hundreds. That’s more money in your pocket today. Don’t wait to buy when interest rates soar again. With low interest rates, that means your monthly mortgage payments are at a significantly lower cost, as well. With such a heated housing marketing, rental prices are soaring, and statistics are constantly showing that home ownership can be equivalent to your rental rate each month, if not less. Why get stuck in a small 2 bedroom apartment, if you can move into a home a pay a monthly rate that is the same, and get a 3 bedroom house with a great backyard?

There is also a fear that a home can keep you “stuck” or “rooted” to one place, without an easy transition out if you decide to move. Although the future of the housing market isn’t easily predictable from location to location, you can always discuss with your agent about buying a home in an area that has a strong turn-over rate when a home hits the market. The equity build up when it comes time to selling is going to be far more beneficial, than if you put money into a rental and decided to move. The money from selling the property can be used to purchase a new home. With renting, there would be no additional funds to transition into a new place.

Now imagine if you were renting a home for $2000/month. If your landlord is renting to make a profit, think how much less you’d be paying on a monthly basis towards your mortgage, if the home was yours. Then you wouldn’t be paying a landlord to profit off of you, you’d be paying a reasonable rate, and get to call the property your own. Contact me today discuss the steps you need to take towards home ownership, you might be happily surprised about the type of home you can afford to move into.  Fill out the contact form below to get started.

 

 

Advertisements

Let’s find your dream home together!

dream home copy

Let’s find your dream home TOGETHER!

Mortgage interest rates are going up..Buy now!

mortgage rate rise

 

As a real estate agent we always see what kind of rates our clients are getting from various lenders.  There is definitely a rise in interest rate.  6 months ago you would get a rate in the low 3%s but now we are seeing rates above 4%.  If you’ve thought about purchasing but have stalled and “been on the fence” you are going to miss out on these unbelievable low rates this year.  We have also seen the home prices on the rise because there were so many great deals.  Don’t get scared about the current interest because it’s still a great rate just be aware of what’s going on.

If you were looking to purchase a home in the $180,000 – $200,000 range you will be looking at payments around the $1400 mark.  When you think about how much it is to rent a 3 bedroom apartment you are looking at a very close amount.  So you tell me what the wise decision should be.  It’s time to get of the fence and buy.  Give me a call at 678-805-SOLD and let me walk you through the process of home ownership.

 

I want to buy a home…BUT WHERE DO I START?

Where do i begin

The first thing you need to do is give me a call at 678-805-SOLD.

The next step is often overlooked but is SO IMPORTANT!! >>>CONTACT A LENDER!!

Many people think this is an unnecessary step this early in the game but it is ESSENTIAL.  Imagine this….We go at look at houses and you find one you absolutely love  for $260,000 and then you find out after that you can only get approved for $180,000.  Your hopes will be completely dashed.  So many clients don’t realize what state their credit and finances are like.  You must know how much house you can afford and what your monthly payments will look like.  You will not be able to place an offer on most homes without it.  Sellers want to know that you are serious about purchasing their home.

Now don’t misunderstand that if you get a pre-approval letter you are definitely and absolutely able to purchase a home.  It is a PRE approval..meaning they are going to take a brief look at your credit and finances to determine if you are eligible.  Many people have the tendency to skew things slightly to their benefit but in the end you will have to show documentation for everything (ie ..check stubs, tax returns).  If you are upfront in the beginning then most people don’t have an issue.

The home buying process can be scary and exciting all at the same time.  You need to make sure that you have a Realtor, like myself, that is knowledgeable and informed about the process and today’s market.

If you’re not sure where to find a lender contact Leslene at 678-805-SOLD (7653).  I can recommend a lender to you.

Post Navigation