Everyone has goals they’d like to achieve, whether in the not-too-distant future or somewhere down the line. At the top of the list for many is the American Dream of owning a home. From advantages like having a place of your very own to financial perks – such as building equity and tax deductions – the bonuses of homeownership are truly boundless.
So you’ve watched enough HGTV shows, talked to enough neighbors, and had enough discussions with sales personnel in your big box home improvement store to know that you might be able to do a ton of improvements to your home without having to pay a pro, and in the process, save yourself a lot of money.
Two overarching factors sum up the residential real estate market in the U.S. – supply and demand. Throughout most of the U.S., more people are buying than selling, which has led to a steady uptick in the typical listing prices for the average home, a trend that rising incomes has helped hopeful buyers adequately address.
The homebuying process unfolds over a series of steps. It typically begins with applying for a mortgage, followed by the house hunt, and upon finding a place, beginning to pay for it. This is the part that can cause confusion for many people.
It’s safe to say that buying a home is one of the biggest financial decisions people make in their lives. Many different factors are taken into account, such as where you’ll live, the home itself, price point and how to properly manage expenses in tandem with monthly mortgage payments.
When you’re in the market to buy a new house, questions run rampant. You’ll likely ponder everything from which neighborhood will suit your lifestyle best, to whether you’re interested in a home that’s move-in ready or a bit of a fixer-upper.
If you’re new to the housing market and on the hunt for your first home, you’ve probably noticed that choices are a major component of the homebuying game. Should you buy a condo, split-level, or colonial-style house?
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