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First Time Homebuyers in Jacksonville, Florida

Real Estate Agent with Round Table Realty

My first home in Jacksonville, Florida

First Time Homebuyers in Jacksonville, Florida (AKA Single in the City) -- According to Trulia, Jacksonville, Florida is one of the markets where it's actually more cost effective to buy than to rent.   Yeah Jacksonville!!!  I was actually a single professional renting an expensive apartment until I was 29.  I remember when I wanted to break my lease and my friend told me to add up the amount I'd spent renting to convince the landlord to let me out of the lease, it amounted to many thousands of dollars and I'd had NOTHING to show for it.  I couldn't choose my paint colors, I couldn't do home projects or install granite countertops and more than that I had no tax benefits for renting.  Although I was an executive, I never felt like a grown up.

Another thing I found was if I had it to spend I did.  So when my rent was low, I'd find other ways to spend my money.  Like on clothes that hung in my closet with the tags still on or eating out or...well, you get the picture.

Just before I met my husband, I'd started saving money for a downpayment.  Since I was knocking on 30's door, I'd decided that I was not going to wait around for "Mr. Right" to purchase a home.  One of my largest regrets is that I never did own a home by myself.  We got engaged around the time I had a down payment saved.  Convenient for him, right?

In my mind, there's something incredibly grown up about owning a home.  I pictured myself tending to my lawn and organizing cocktail parties, painting the walls and choosing the decor without compromise.  When I work with single first time homebuyer clients to purchase their home, there's always a bit of envy.  Don't get me wrong, I love my husband BUT...I've never been able to decorate without compromise.  I've never bought my favorite home either because when you're buying with someone else there will always be compromise involved.

So if you find yourself single and deliberating about whether or not to buy a home, go for it!!  There may never be another time in your life when you can paint the walls fucshia (unless you have an incredibly tolerant partner).

But here are the other reasons:

Historically the rate of home appreciation is steady and you can actually enjoy the investment.

Home prices are at an all time low combined with historically low interest rates.  This means in a market like Jacksonville, you actually can buy for less than you can rent.

Even if the market drops a little more, the drop won't be as much as what you've saved in lower interest rates.  The difference of even 1% in interest rates on a $100,000 loan is about $60 a month.  Over a 30 year loan that's a savings of $21.600.

Here's the best part...if you outgrow your home, you can rent it out and let someone else make your mortgage payments for you...kind of like what you're probably doing now if you're renting ;) And even if you don't have children and think you might never have them, buying in an area with good schools is going to be important when you want to rent your home out.

And lastly, how many more pairs of shoes do you really need?


If you are thinking about buying your first home in Jacksonville contact your Jacksonville Realtors for Life -- Jami Shapiro and Erica Jolles at (904) 201-9276.  

To learn more about us and how we can help with all of your Real Estate needs visit www.JaxRealEstateForLife.com

Jacksonville Real Estate for Life

Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Jamie and Erica! Long time no see speak or hear!!!!

This is great information for First Time Homebuyers in Jacksonville, Florida!

With low interest rates and great prices on homes and condos, if you can buy, now's the time to do it!

May 19, 2011 09:54 AM