It is a bit tough to consider purchasing real estate with all of the negative news on the real estate market. When you review the facts, it is actually a great time to purchase real estate. The following are benefits of purchasing Marlboro NJ homes in 2012.
Benefits Of Purchasing Marlboro NJ Homes In 2012
Favorable Home Loan Rates
Interest rates are at an all time lows. Most buyers obtained fixed rates under four percent during the first half of the year. Loan rates have a significant impact on recurring loan payments. By obtaining a low rate, home buyers spend less money on a property or are able afford a more expensive property. Rates will not stay low for the long term, so buyers should act sooner rather than later to to fix in a low rate for the full term of their home loan.
The decreased real estate market means that real estate is sold at a lower price than they were at the peak of the market. Like stocks, it is more beneficial to purchase at a low price than a high one. Real estate in the usually appreciates over time. By buying on the low end, there is also more potential for appreciation.
The Ability to Upgrade to a More Expensive Home
When real estate values decline, it is actually the best time to purchase a more expensive property. Buyers may lose some equity in selling an existing home, but the money saved on the higher priced home should be more than that loss. Many buyers are finding that the reduced prices offer a rare chance afford a home of their dreams.
A Smaller Gap Between Renting and Buying
The cost of rent remain high even though housing prices are low, resulting in a smaller difference between renting and buying. Buying has the added benefit of tax deductions for mortgage interest, municipal taxes, and other expenses. When you also consider the ability to build equity over time, home buying offers both savings and long term growth potential.
Help With Buying a Property in the Marlboro NJ Area
There are many benefits of purchasing Marlboro NJ homes in 2012. If you are ready to take advantage of low prices, low mortgage rates, and the other advantages of purchasing a home, start by contacting a mortgage professional and real estate buyer’s agent. Contact Sujatha Bhaskara at Keller Williams Realty (732-536-9010, email@example.com) for additional information on the real estate market and assistance with your real estate buying needs.
I invite you to begin your Marlboro, NJ home search at www.bestinnjrealestate.com, a great buyer resource. Here you can save your favorite properties, set up a custom listing alert for homes in Marlboro that meet your needs, view Real Estate trends in the area, get local Marlboro, NJ school and community information, and much more!
Marlboro, NJ First Time Buyer Advice
The home buying process can be a bit intimidating for first time buyers. The Marlboro, NJ first time buyer advice below can help. Real estate is a big investment and buyers should become educated on the process.
Before Beginning a Home Search
Select a Local Lender & Request a Pre-approval
Speak with a local mortgage provider and request a pre-approval. The programs and offers may vary from one company to another. Review the options and closing costs to decide the best option. This will help you understand the estimated up-front and monthly costs of home ownership. This will offer a good estimation of what you can afford.
Find a Real Estate Expert
Find a real estate expert to guide you through the home buying process. Evaluate several agents and pick one that best fits your needs. Experienced brokers can help you identify appropriate properties, prepare offers, and ensure a smooth transaction. This guidance can be essential first time buyers.
Buying Process Information
Only visit listings within your budget. This avoids the disappointment of wanting a home that you cannot afford. Visiting properties can take extensive time and energy, so sticking to your price will also save valuable time.
Real estate brokers can offer advice on contracts and negotiating them, but they may not practice law. Look into using a local real estate attorney to navigate legal jargon and add any necessary language. Make sure that you sufficiently understand the terms and obligations of contracts before signing them.
Inspections are not intended for price re-negotiations. Such strategies are not typically successful and lead you to lose the money spent on the inspection. Sellers have the option to make repairs, give monetary concessions, or be unwilling to do anything. Maintaining a good relationship with the seller will make negotiations easier.
Walk-Thru Prior to Closing
Before the closing, you will have an opportunity to view the home. Try and schedule this for after the seller has removed their belongings. If any issues are found at the walk-thru, you should resolve them before signing closing paperwork as there is little you can do afterwards.
Be sure to bring legal identification to the closing. Closing costs and down payment funds must be certified. Also bring your checkbook for any last minute changes. Once the settlement paperwork is filed, the property is yours!
Additional Marlboro, NJ First Time Buyer Advice
The home purchase process will be much less stressful with some advanced preparation and knowledge. For details beyond what is provided in this Marlboro, NJ first time buyer advice, contact Sujatha Bhaskara at Keller Williams Realty by calling 732-536-9010 or by emailing firstname.lastname@example.org. I invite you to begin your Marlboro, NJ home search at www.bestinnjrealestate.com, a great buyer resource where you can save properties, set up custom listing alerts for homes that meet your needs, get local Marlboro, NJ school and community information, and more!