Why You Should Buy a Home

Making the decision of purchasing a home is a massive step in your life. Being a first time home buyer is a huge financial commitment to alot of people. So why should you purchase instead of keeping the comfort of a rental unit? Below are a few good reasons why you should purchase a home:

You Build Equity:
Other than the fact that you’ll have a permanent roof over your head and your family’s head, you also benefit from building equity. Most people love the fact that their equity is quickly raising as they pay they monthly mortgage. Also, when you own the home, if you add improvements, the equity will raise as well. Meaning you can improve your bathrooms, increase the value of your home, and increase the amount of money that property is worth.

Possible appreciation.
A home is likely to gain value, unlike most of the other major purchases in life, a home can gain value with time. If you bought a boat, electronics, or a car, they are going to lose value. If you maintain your home properly, it’ll be certain to gain value which means you’ll be able to make money on your initial investment when you sell the home.

Bigger credit options:
Once you start building equity on your home, you can benefit from borrowing from that equity. Home equity loans are simple to acquire if you have a good score and have plenty of equity to spare. Those loans can help you pay for bills, help purchase a second home, or for emergency cash.

Some tax breaks:
Yes, owning a home comes with alot of good tax breaks from the government. Although they do require you to pay some extra property taxes and taxes on your mortgage balance, luckily all these are tax deductible.

Personal control:
Owning your home gives you a greater amount of control in comparison to a rental home. For example, if you wanted to lower the amount of water or energy consumption to lower your utilities bill, owning a home gives you that option. Renting does not, because it’s usually a flat average fee per month included in the rental. You also get the option of improving the value and making repairs in your home that will improve your equity.

Pride of Ownership
Last but certainly not least, owning a home gives you the freedom to do as you please with it. You can decorate as you please, or tear down walls. If gives you pride of having a place where you and your family can come to after working.

How To Sell Your Home Quickly

Being in a soft real estate market, you have to get creative to get your house noticed. Suppose you have two exact copies of a box, they both have the same contents and have the same design. If one of the boxed had a special offer to win a free TV, you are most likely to pick the one with the offer inside. So the idea here is to create incentives for the buyer to look at your property and consider it as their purchase.

Creative home sellers all over the world have managed to create a similar effect by offering buyers incentives to lower the cost of buying a home. This helps improve your chances of selling the home and achieve the price they desire. Below, you’ll find a few tips to help you maximize your chances of selling your home for a good price and motivate sellers:

Take care of their closing costs:
Most of the people buying homes are afraid of spending cash after signing a big mortgage application. They also forget about the closing costs because they focus on getting enough money for a down payment for the same mortgage. If you offer to take care of their closing costs, it’ll motivate them immensely and take some of that surprise factor off their shoulders.

Help them get a lower mortgage rate:
If you’re familiar with mortgage points, they are usually 1% of the total mortgage amount. The more point you buy, the lower your interest rate will be on the total purchase price of the home. So try stimulating them with a few point off their mortgage, each point usually takes off .25% of their interest rate. This will also help buyers feel better about their purchase, they’ll feel more comfortable knowing you helped lower their monthly mortgage payments.

Add freebies:
When it comes to first time home buyers, they don’t usually have furniture or appliances to put in their home. Adding some appliances in the kitchen or laundry room will motivate them by lowering the amount of expenses they have to make when they first move in. You can include them as a value added service, they’ll be happy to have a working home within the first month of moving in.

In case you don’t want to include your stuff in the sale of the house, I suggest you purchase a home warranty for cheap. Insurance companies usually offer home warranties for electrical, appliances, fixtures, and plumbing for example. This will make them feel more comfortable by being reassured of their home being covered in case something breaks or goes wrong. Inspections usually overlook a thing or two when it comes to heating and cooling or plumbing so this will make them much more comfortable.

You can also give them gift certificates, memberships, tickets to games, trips, or other incentives. These might cost money but they help your listing get noticed over the rest.

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