10/17/2019
Renting vs Buying While Young And Why You Need An Agent.
Purchasing a home can be an overwhelming experience, much different than renting. Especially since its likely to be the biggest investment you will make during your lifetime.
However, more young people are taking this step earlier in life. It seems like its apparent why Millennials should buy a home. More Millennials are seeing the value of owning their own home, rather than just emptying their pocket each month for rent that will never contribute to building any future equity.
What are the Benefits of Homeownership: Why Should Millennials Buy a Home?
Many Millennials may still not know about the benefits that come along with homeownership. Those who purchase a home have the opportunity to invest their money and build equity, rather than pay a landlord. You may think you cant afford a mortgage payment, but by taking out a loan, you're actually doing yourself a favor.
Making your mortgage payment is essentially the same as paying rent, except you're putting that money back into owning a larger share of your home. This equity is an asset to you. With it, you can take out a equity line of credit to pay for expenses, such as home renovations or other unexpected expenses. You could also sell your home for a greater price than your original purchase price and earn a profit.
Millennials who buy a starter home now have the opportunity to turn it into a rental property for a source of added income when they purchase their long-term home in the future.
Additionally, Millennials can look forward to the tax breaks that apply to homeownership. The sooner a home is purchased, the more years of tax advantages they will reap.
What are the Benefits of Using a Real Estate Agent to Buy a Home?
Its true that anyone can shop for a home and even get a peek inside, without formally signing in with a real estate agent. But unless you have time to make home shopping a part-time job, an agent might be able to match you with the perfect property much faster.
Say you want a basement or you don’t want a basement. If you're looking for something specific, a agent is the person whose job it is to know if there's a house out there to fit your needs, and he or she will be there through the entire process.
Real estate agents that are members of the National Association of Realtors (NAR), those who join the group agree to abide by a code of ethics. That code essentially stipulates that Realtors deal with all parties of a transaction honestly.
Under the code, the Realtor is obligated to put the clients interests ahead of his or her own. He or she is also required to make full disclosure about the problems with any property and be truthful in advertising.
Often, the touchiest part of a real estate purchase involves the delicate dance of requesting repairs.
A real estate agent will be able to identify trouble that you may not see, as well as recommend a good home inspector who will provide a detailed report on problems with the house. If the house is in reasonably good condition, request for repairs can make or break a deal. The agent will have a good sense of what's reasonable to request and what's excessive.
What are the Benefits of Using a Real Estate Agent to Sell a Home?
Selling your home may appear easy, but it really isn't. To get the best price for your home it is important that you are represented by a professional who not only knows your market, but also has proven strategies that sell homes.
Negotiating skills, professional photos and understanding the local market data are crucial to not only determining the best list price for a home, but actually selling the home. Realtors see problems before they occur and their negotiating skills help you to receive the maximum dollar for your home.
Prospecting and Advertising are just as crucial to exposing your home to the maximum amount of potential buyers. Realtors know how to target the right audience to sell your home. From social media, paid advertising, to collaborating with other agents and placing your home in the Multiple Listing Service (MLS) Realtors reach buyers that may not ever find your home if you're trying to sell it yourself.
Thank you for taking the time to read this.
If you are considering selling your home, wanting to buy a home or even want to continue renting and want help finding a rental, please reach out to me. I would be happy to meet with you and help you in any way. I genuinely love to help people accomplish their goals and would be honored to help you with yours.
Erick Harris
Cell: (502)552-5579
Email: [email protected]
[email protected]
