We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership his paper – The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study:
1.) Housing is typically the one leveraged investment available. Continue reading
Remember, if a home appraises for less than the price on a signed contract for purchase, the bank will not approve the loan, and your buyer may walk away or want to renegotiate to a lower price. Get a market analysis from an established Realtor and price it to sell, or you may have to start over. – Tim
Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). In a housing market where supply is very low and demand is very high, home values increase rapidly. Continue reading
For first time homebuyers, there are several incentives and assistance programs available to help you buy that first home. I can help you navigate through the system and explain to you how to achieve this goal of homeownership. – Tim
… The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership. The top 4 reasons to own a home cited by respondents were not financial.
1. It means having a good place to raise children & provide them with a good education
From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase. Continue reading