How is buying a home better than renting?
Some factors to consider are rent increases with time and home price appreciate with time. Making the decision to rent or purchase a house will depend on your future plans. Rents are typically less expensive than buying at the time of making the decision, however, rent will continue to increase year after year. The mortgage payment wont, but rather your equity on the property will increase year after year.
How much house can I afford?
In general, the amount you can afford to spend on a home is a combination of your cash on hand, your salary, and your outstanding debt. Speaking to a lender is really the first step in the home buying process.
When is the best time to get loan approval?
In order to have the best possible chance when submitting a home offer, Elite KY Homes recommends that buyers get pre-approved for their home loan. Pre-approval simply means that the buyer has worked with a lender to determine what the maximum loan amount the buyer could qualify for with that lender, prior to selecting a house. Some sellers will not even entertain offers from a buyer unless the buyer is pre-approved.
How can I be sure that I have seen everything on the market?
To ensure that you have knowledge of all the properties available on the market, your Elite KY Homes professionals sets your criteria and orders the MLS (Multiple Listing Service) to deliver every property listing directly to your email box. Another way to ensure you are shown every available home is to search for yourself using your preferred website which allows complete access to the area homes for sale.
How will I know I am offering the right price and not overpaying for the property?
One way to ensure that you are paying a fair price for the property is to look at what other houses of similar size and characteristics have sold for in the past few months. Your real estate professional should be able to provide you with some comparable home sales in the area.
After I have a contract on a home to purchase, when can I move in?
After the home closing, you then own it and can move in immediately right after closing unless the contract was negotiated differently.
How long does it take to sell a home?
There are two factors that play an important role in determining the amount of time it will take to sell your home. Choosing the right qualified, experienced, and seasoned Realtor with an aggressive strategic marketing plan is the most important step to the success of selling the soonest. The other is asking the right price. As long as your asking price is correct for the market and matches your motivation, you’re a step ahead and you are sure to find a buyer that likes your home the best. There is no marketing that will help with improper pricing.
Are there any advantages or disadvantage selling in today’s market?
Home sellers who have move-in ready homes are well positioned to receive strong offers from buyers in the current market. Investors are also seeking desirable fixer uppers or homes that can be purchased to flip for profit so sellers in less desirable homes are finding buyers fairly quickly.
How much is my home worth?
A complementary service of your Elite KY Homes professionals is to provide you with detailed research on your home’s marketable value. Starting with right market price is critical to the success of achieving the best financial outcome at the closing table. When it comes to price, sellers are emotionally attached to their home and often view their home as an exception to the community and do not realize the actual viewpoint of the buyers. Sellers who don’t price their home correct let great buyers pass by and as a result take longer than average time to sell. Let your real estate professional help you be on the right track on first day of introduction to the marketplace.