Homeowners who purchase their homes before the age of 35 are better prepared for retirement at age 60, according to a new Urban Institute study. The organization surveyed adults who turned 60 or 61 between 2003 and 2015 for their data set.
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.
Source: Keeping Current Matters
This is still great news for homeowners!
Let’s look at the potential equity gained over the same period of time at some higher price points:
Blog Post: Keeping Current Matters
Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, then that is when they will have the most competition!
The #1 Reason to List Your Home in the Winter Months is Less Competition!
Added Bonus: Only Serious Buyers Are Out in the Winter
Often I hear all the talk about down payment cost but rarely do new buyers understand that there are more costs to buying a home than your down payment money. Closing costs are the most forgetful thing or rather unknown unless you are outside of the real estate business.
Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a mortgage?
By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before the scheduled closing on their home. The closing disclosure includes final details about the loan and the closing costs.
But what are closing costs anyway?
According to Trulia:
“Closing costs are lender and third-party fees paid at the closing of a real estate transaction, and they can be financed as part of the deal or be paid upfront. They range from 2% to 5% of the purchase price of a home. (For those who buy a $150,000 home, for example, that would amount to between $3,000 and $7,500 in closing fees.)”
Keep in mind that if you are in the market for a home above this price range, your costs could be significantly greater. As mentioned before,
Closing costs are typically between 2% and 5% of your purchase price.
Trulia continues to give great advice, saying that:
“…understanding and educating yourself about these costs before settlement day arrives might help you avoid any headaches at the end of the deal.”
Schedule a buyer consultation with me determine how much you’ll be responsible for at closing. Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
Source: Keeping Current Matters
Just bought the new home and looking to score some amazing deals? Well my absolutely favorite store is prepping you up for Black Friday. Hang that new flat screen tv in the media room, set up Alexa in living room, and add some style to the bedrooms and bathrooms. Target is your one-stop shop which is why I consider myself a Target addict! I can spend hours in Target. It instantly brightens my mood whenever I walk through the door. Explore the new Black Friday ad from Target before next week! Here are my tips for shopping at Target: - Get a Target Red Card This card can be linked to your debit card or you can use the credit card feature for this. I prefer the debit. I save 5% everytime I use it. In Texas, that is basically you paying less on the sales tax around 3.25%. #WINNING - Scan your Target app Whenever I am in Target, I make sure to scan the items I purchase to see if it is on Cartwheel or any additional coupons can be applied. That is even more savings. I've saved over $500 dollars using Cartwheel.
It’s beginning to look a little like….wait….It is a week before Thanksgiving. I cannot get into the Christmas spirit until it that holiday passes over. Take a look at some of the events in DFW this holiday season.
Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home.
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.
1. Hire an Inspector
2. Maintain good communication with your builder
3. Look for builder’s incentives
4. Schedule extra time into the process
5. Visit the site often
For years, I had been helping my friends work on their credit and feeding them into being more financially responsible.
So one day during a conversation, one of my friends suggested I put all my experiences in a book to help others. I side-eyed her because that is what I do when people suggest things that I would never think to do. However that evening, I thought long and hard about it. I would share my journey with my homeownership counseling clients to help them understand. We would talk about how they learned about money and so on.
I wrote this book in 2016 and 2017. I finally released it in 2018. Here’s your chance to learn more about credit with my stories from my college mistakes.
Purchase Here: store.bookbaby.com/book/credit-and-me