1. Find the right representative
Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise. Speak to your agent first and he or she can be helping to guide you right from the start.
2. Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval. Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating). 3. Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research. Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are). 4. Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent. 5. Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision. Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. With the right team behind you, it really can be that easy! Kingsland Georgia - Why Buy a Home? |
| "  | Congratulations! You have decided to purchase a Kingsland, Georgia home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value. When you buy a home you are investing your money in your future. If you pay rent in the amount of $1000 per month you will have paid $12,000 in rent at the end of a year and $60,000 at the end of five years. This is $60,000 gone forever. |
In addition, the government allows you to "write-off" your mortgage interest expenses each year. On a $1000 a month mortgage payment (P&I only) you could have a $10,000 write-off from Uncle Sam simply because you opted to invest in a home. In addition, there is a lot to be said about the Pride of Ownership when you buy your Kingsland home. Considering these numbers (which are completely possible) you could actually recover all of your payments over the five years. When you rent you have a 100% success rate of recovering absolutely $0. There are always other factors that will alter the outcome such as cost to sell, length of time you own the home, etc. These other items can create greater opportunity or cut some of your profit, but I believe it is much better to buy and invest, vice rent." Credited source for the data above is Paul Carlson A few questions to ask yourself: - Do you see how owning a home can be a great investment and improve your quality of life?
- Do you genuinely want to invest in yourself and enjoy a higher quality of life?
- When do you think is the best time to start investing in your higher quality of life?
When you opt to purchase a Kingsland, Georgia home and make a home payment of $1000 per month (P&I only) you would be buying a $167,000 home (assuming 6% interest rate and no down payment). At the end of the same five years you would have paid $60,000 in mortgage payments, paid your home loan down to $155,400 and based on average appreciation (6.4% between 1940-2000 and does NOT include the 2003-2005 spike) the home would be worth $227,700. The difference between $227,700 and the original purchase price of $167,000 is a gain of $60,700. I'm confident you can find a lot of things to do to improve your life with $60,000! |
|