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Joint Ownership of Property

By
Real Estate Broker/Owner with Real Living GreatWest

Buying property is a big decision. When you decide to buy a home, it is a huge commitment you are making. You have decided to take one more step towards committing to a big responsibility of owning your very own home. Many professional real estate agents will contemplate a number of different options before deciding on a home, based on certain facilities that they require. They may be looking at proximity to a job location, to schools and amenities or other requirements that they find interesting. In any case, deciding on a home involves a lot of decisions and scrutiny.

 Realtors will tell you that when you decide to own a home jointly there are many advantages to it. Whether you decide to buy a place based on jobs or schools, the decision must be contemplated carefully, as above everything else, it is a huge financial commitment. Both partners must be fully aware of this issue, ready to make the necessary decisions to earn and move forward with the choices they have made in life.

 No matter what choices you make later, once decided, you have entered into a commitment wherein you will have to find a way to pay your regular monthly mortgage amount according to specifications given to you. When you have a situation of joint ownership, both parties are equal owners of the property, the title, and interests of possession. Social media in real estate also promotes the idea of the presence of many benefits in a joint ownership. When two working people decide to invest together in a home, they are entitled to tax benefits.  When there is joint ownership, the loan amount available on the home also becomes more flexible and you can gain more when it comes to future borrowing, when your incomes are combined.

 There are numerous real estate websites that will advice you on the mortgage financing for your home, neighborhoods, amenities available and why you should pick a certain home over the other, etc. A house once bought will be a liability and an asset. It will be a liability on your finances, but an asset in the long run. It is a lifetime investment, which will grow in its price, as land prices increase, and you will be able to reap the benefits of your hard work and choices. Whether you choose to find your house through agents or through guidance from real estate blogs, make your decision after careful scrutiny.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings:
http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog:
http://www.GreatWestBlog.com

T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings:
http://www.HouseTalkOnline.com
GreatWest Videos:
http://www.youtube.com/brodiestephens
Facebook GreatWest Profile Page:
http://www.facebook.com/searchmlshomesforsale
MySpace GreatWest Blog:
http://www.myspace.com/greatwest
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us:
http://www.CareersWithUs.com
Global Employee Relocation:
http://www.employeerelocation.blogspot.com
Apply for a Loan:
http://www.choice1funding.com

ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac

Sacbee:http://www.sacbee.com

Company WordPress Site:http://www.thehomeholders.com

Real Living:http://www.realliving.com

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for the tips on ownership.  We learn a lot of good info from Active Rain.  Best Regards,

Jun 10, 2010 08:51 AM