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Four Benefits of Owning a Home

 

It’s a major responsibility, but owning a home comes with some big-time benefits – one being peace of mind. Here are a few other benefits to owning versus renting:

You’re Building Up Equity Every Month

What is equity? It’s the amount you sell your home for, minus the money you still owe on it at the time of sale. The amount you owe reduces each time you make a mortgage payment. Your principal payment increases each month, too, meaning that as time goes on, you’re paying more toward the actual loan amount versus interest. Equity in your home is typically lowest at your first mortgage payment and highest at your last payment.

It’s Cheaper to Own a Home Than Rent – In the Long Run

Buying and owning a home may be a little overwhelming at the very beginning because of interest rates, mortgage payments and the paperwork that goes along with it. You may think it’s easier – and cheaper – to rent a house, but it’s really not. After a while, your interest rate will decrease. Plus, each month that you’re making a payment, you’re putting money toward your own home, not sending hard-earned cash into a landlord’s pocket.

As a Homeowner, You’ll Enjoy More Stability

Owning a home actually brings much freedom and a sense of independence. The house belongs to you and you can do whatever you want to it. You don’t have to worry about a landlord hiking up your rent at the beginning of a new year or risk being kicked out of the house. Any improvements that you wish to make benefit no one else but you! Plus, if you have kids, you’ll have to worry less about having to switch school districts on-the-fly because you won’t have to worry about being asked to vacate.

Improvements Are Made for Your Own Good

Let’s talk about this a bit more. Once you a buy a house, you’re no longer restricted by a landlord’s guidelines or requirements on paint, decor or design. You get to decide what type of construction, design or maintenance professionals you’ll hire to work on the home. Any improvements made to a rental are enjoyed by you for only as long as you’re living in the home. Once you leave, your updates will benefit the next renter.

Are you you in the process of looking for a new home? Give us a call today at 480-759-1500 to discuss your options!

Tips for Choosing the Right Realtor

(2 min read)

Tips For Choosing the Right Realtor

A record number of Americans are gearing up to buy their first homes.  This is a big decision that can bring a lot of questions including the big one. How do I choose the right realtor? We can help with that! Read below for simple tips that will help you find the best real estate agent.  Here’s a hint: the tools you need are actually right in front of you.

 

Ask Around

Just like recommending your favorite local coffee shop, word of mouth recommendations are still the best way to go to begin curating your list. Ask friends and family for realtor references especially if they are recent buyers. It’s important to note that just because a realtor might have been a good fit for someone you know, they still may not be the right one for you.

 

Find Your Neighborhood

Decide on the areas that you are interested in living in and narrow down your potential realtor list based on that.  You can research this online or drive those neighborhoods and take note of the realtors selling homes there. Working with an agent who has experience in successful sales in the area you want to live will put you several steps ahead.

 

Google!

It’s time to find out more about your potential prospects. Do a few Google searches to get to know their online persona.  As a first time home buyer, pick a realtor who is experienced and knowledgeable, but also current and fresh. Does it seem like they know the area you are interested in?  If they have a website, is it modern and up-to-date? Are they active on social media and post regularly? Do they offer relevant content that is helpful and coincides with your vision? A realtor who takes the time to continue learning about the growing market trends is someone you want on your side.

 

Be a Boss

Make a list of real estate questions that are important to you regarding your house hunt.  Ask them to explain the home buying process and add anything that you expect from your realtor (i.e. preferred method of communication, how often you would like updates).  Being honest about your expectations from the beginning will pave the way for a smooth buying experience. Meet your potential realtor for coffee or just give them a quick call. Do you feel that they are genuine in the advice and information they are offering you? Are they approachable and outgoing? Someone who is outgoing is most likely confident and confidence is definitely a characteristic you want when choosing a realtor. At the end of the day, go with your gut. And remember, they work for you.

Buying a first home is a significant milestone. Take your time when selecting who will help you make this major financial and emotional decision. Just don’t forget to have fun and enjoy this time, too! You’re only a first-time home buyer once!

If you need help finding the right realtor for you, call us.  Cardinal Financial AZ has worked closely with hundreds of realtors and will be able to recommend the right fit for you. Call 480-759-1500 or email matt.askland@cardinalfinancial.com to talk about your options!