Are You ready to Buy a Home-Don't miss these Tips

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                                                                Pic courtesy of google,com                           

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Currently the market is going to start moving again, The investors are coming back, when theinvestor can put 20% down and break even , they will start investing again.

This is one chance in a lifetime when it is cheaper to buy than rent providing you have a down payment of at least 10-20%. THe downside is that you have to be extremely qualified becuase the lender's are making it harder to obtain a loan, which just goes with life.  When opportunity knocks only a choosen few are ready..Is it you?

Below is an excerpt from an article in the California Association of Realtors website which may be helpful.For the full article click on the site below.

car.org 

"As with any major purchase, it pays to be informed prior to making any decisions. As experienced buyers already know, buying a home is a complicated process, so it‘s important to start at the beginning and thoroughly understand each step. Whether you‘re buying your first home or your third, make sure you have the necessary financial resources and have explored all your options before you purchase a new home.

If you‘re a first-time buyer, you should weigh the pros and cons of homeownership versus renting. There are many advantages and disadvantages to consider. For example, renters have the freedom of mobility if they choose to move, but their monthly rent checks do not establish long-term equity or produce any other benefits.

Both new and experienced buyers have their own sets of financial considerations when it comes to buying a home. Move-up buyers should evaluate their financial situation to ensure they‘re prepared to meet the higher mortgage payments involved with relocating. Likewise, first-time buyers should determine if monthly mortgage payments fit in their budgets. "

Some buyers are not aware of the Tax savings and have a habit of only looking at their net paycheck missing the total amount of taxes the Federal Government is taking out. Between 20-40% of that tax can be going back to you each month when you own a home from $800-2000.00 per month back. Check with your CPA for the full tax benefits of Homeownership. 

Also check out my article on buying verses renting on active rain.