Q.I’m thinking about purchasing a home. What should I know before buying?
A. If you’re thinking of investing in a house now or wondering whether you should wait, here are three important things to consider:
1. Renting vs. Buying. If you rent a home, it could cost you less each month...and you might have more money to invest in other endeavors. But if you put your money in a low-interest money market fund, generally you will not earn as much as if you had invested your money in a house.
2. Housing Prices and Interest Rates. You may be waiting for the housing prices in your area to fall. They may not. However, usually when they do, the interest rates will be higher. The amount you gain could be significantly less over the long-term cost of the mortgage. Therefore, waiting may not be in your best financial interest.
3. The Break-Even Point. The average break-even point for buying and selling a house is three to five years. If you plan to move before then you may want to seek professional advice before purchasing property if you want to realize a profit on your investment.
If you are in the market for a buying or selling a home and need competent and caring representation, please call me at 905-925-0007 or email at firstname.lastname@example.org.
Author:Jeremy Romano Phone: 905-925-0007 Dated: June 14th 2017 Views: 104 About Jeremy: I am a Full-time Realtor in the Durham Region and Kawartha Lakes market, and have lived here for ove...
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For years now, Jeremy Romano Team has been going above and beyond for their clients within the Durham Region and Kawartha Lakes Area. They help more people using their unique approach and passion for real estate. Whether you are buying a house for the first time, looking to up-size, downsize or invest, Jeremy Romano Team is there to guide you.
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"We have recently had the pleasure of dealing with Jeremy Romano in the sale and purchase of two houses. Charming, persistent, professional, hard-working and innovative are words to describe our experience with him. Always pleasant, with an excellent sense of humour, Jeremy went out of his way to accommodate our every need and desire. He willingly held many open houses when selling our home in the winter, even going so far as to register with a neighbouring real estate board in order to broaden the exposure of his constant advertising. Throughout the whole process of our sale, Jeremy was tactfully honest with us, helping out with the staging of our home, keeping us informed of potential buyers’ reactions and ably negotiating the final sale contract. When we did sell our home, he willingly spent many hours with us viewing potential homes, advising us when we bought a home, negotiating for us in that purchase, and unselfishly spending even more time with us while we visited our new home several times before moving day. Jeremy has been instrumental in making this potentially stressful process a thoroughly enjoyable experience. We highly recommend him, and would use him as our real estate agent again without hesitation, or, as the saying goes, “in a New York second”! "