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homeownership: CENTRAL VIRGINIA RENTERS: THINK YOU CAN'T OWN YOUR OWN HOME? THINK AGAIN! - 07/13/07 11:06 AM
 
                                                       
                                                           
 
Are you paying rent and don't think you can afford to own your own home? Chances are , that if you are able to pay rent you can own a home. When you pay rent, you are taking the money you worked so hard for and just handing it over to the Landlord and paying his mortgage for him. Not to mention placing some of that money in his pocket! When you own your home you are investing that money in your homes equity, which over time increases. You will eventually reap that equity once you sell the home or refinance it. Think of homeownership as a GIANT PIGGY BANK! So, … (4 comments)

homeownership: 10 TIPS FOR FIRST-TIME HOME BUYERS - 05/08/07 09:49 AM
 
10 Tips for First-Time Homebuyers
  
  
Be picky, but don't be unrealistic. There is no perfect home. 
Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. 
Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs. 
Don't wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking. 
Don't ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel … (0 comments)

homeownership: 7 REASONS TO OWN YOUR OWN HOME - 05/08/07 09:29 AM
 
7 Reasons to Own Your Own Home
Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home. 
Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there's no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORSÒ found that a typical homeowner has approximately $50,000 of unrealized gain in a home. 
Equity. Money paid for rent is money that you'll never see again, but mortgage payments let you build equity ownership interest … (0 comments)

homeownership: 10 STEPS TO PREPARE FOR HOMEOWNERSHIP - 05/08/07 09:14 AM
 
10 Steps to Prepare for Homeownership  
1.      Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
2.      Develop a wish list of what you'd like your home to have. Then prioritize the features on your list.
3.      Select three or four neighborhoods you'd like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
4.      Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney's fee, and transfer fees average between 2 percent and 7 … (0 comments)

 
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Edith Wharton, Chesterfield VA Realtor

Midlothian, VA

More about me…

Cottage and Loft Realty

Address: 5006-B Monument Ave., Richmond, VA, 23230

Office Phone: (804) 340-0280

Cell Phone: (804) 247-5980

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