Buying A Home

Everything you Need to Know about HOA Associations & Fees

*by JUSTIN PRITCHARD - March 28, 2020 - www.thebalance.com

HOA FEES:  What you Need to Know Before Buying

Homeowners Association (HOA) dues help you share costs with others in your community.  But HOA payments can add a significant amount to your housing expenses.  Before you commit to buying a property with an HOA, get familiary with where your money goes and what to expect with your HOA dues.

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New Construction or Existing Home: Which is Better for your Family?

*Posted on July 16 2020 by Housecall

New Construction or Existing Home:
Which is Better for Your Family?


By Anita Ginsburg

Are you in the market to buy a home? If so, then you may be trying to decide between new construction or purchasing an existing home. With your home being such a huge purchase, you need to be sure you make the best choice for your family.

Here are some things you should consider when trying to determine whether new construction or an existing home is better for your family:

Your Budget

The biggest deciding factor for many individuals is their budget. Existing homes often come with a cheaper initial price tag; however, there may also be some incentives for purchasing a new construction home that can make them more affordable in the long run.

Whether or Not You Want to Make Repairs

Existing homes usually have repairs that need to be made. Things may break more often than you think, and fixing them requires time, energy and money. Some individuals are handy and don't mind making a few repairs here and there, while others...

Top Features First-Time Home Buyers Want

Top Features First-Time Home Buyers Want
By Rose Quint on March 23, 2020 • (0)
eyeonhousing.org
After rising for six consecutive years (2010 to 2015), the average home size in the US has fallen steadily for the past four years (2016 to 2019).  In fact, estimates indicate the average home built in 2019 was the smallest since 2011.  This trend is evidence that builders are working to meet the demand for smaller homes; that they are trying to shift their production mix toward more entry-level homes affordable to first-time buyers.
Given this reality, it is important to keep in mind what it is first-time buyers most want to have in a home.  Below are some of the findings recently presented at the 2020 International Builders’ Show (IBS).
What type of home do first-time buyers want?
•  77% prefer a single-family detached home
•  1,977 square feet is...

Time Spent Searching for a Home is Rising

Time Spent Searching for a Home is Rising
By Rose Quint on February 3, 2020

Of the 11% of American adults considering a home purchase in the final quarter of 2019, only 43% reported being actively engaged in the process to find and buy a home.  A year earlier, the comparable share of active buyers was a much stronger 54%.  This finding suggests that mortgage interest rates steadily below 4.0% in recent months have not motivated more prospective buyers to get started trying to find a home to buy.

Across generations, 46% of Millennial prospective buyers are actively looking for a home to buy, along with 43% of Gen X buyers, 41% of Gen Z buyers, and 37% of Boomer buyers.  Across regions, prospective buyers in the Northeast are the most likely to already be actively searching for a home (49%), followed by those in the South (43%), West (41%), and Midwest (39%).

Click here to find out more.

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Where it's Better to Buy Instead of Rent in 2020

*Posted on January 22, 2020 – 4:14 pm by Suzanne De Vita on RISMedia’s housecall

Where It’s Better to Buy Instead of
Rent in 2020

It’s a crucial question, especially for first-time homebuyers:  Should I buy a home, or rent one?

As is the case in real estate, it comes down to location.

In 53 percent of the country’s housing markets, you’re better off buying than renting, according to ATTOM Data Solutions’ 2020 Rental Affordability Report, newly released.  For the report, ATTOM compared 855 counties, and assumed a median-priced, three-bedroom home and a median-priced, three-bedroom rental, based on government statistics.  In 66.3 percent of counties, the growth in home prices surpassed wages, the report shows.  In 57 percent of counties, earnings growth outpaced rents.

Of course, despite the overall trend, there’s nuances and patters.  Generally speaking, in dense metropolitan regions, it’s cheaper to rent.  If an area’s less populated, it’s better to buy.

Click here for an interactive map of the United States and where’s it’s better to buy than rent.



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