Posts from April 2017
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28
The No. 1 Obstacle for Would-Be Homeowners
For all the hurdles to homeownership, one obstacle is stubbornly more insurmountable than the rest: the down payment.
Renters are having trouble stacking up the savings to place a down payment on a home, according to the recently released Zillow® Housing Aspirations Report (ZHAR). Seventy percent of renters surveyed in the report say the down payment is more of a hindrance than debt (cited by 50 percent of those surveyed), job security (38.5 percent) and qualifying for a mortgage (53.2 percent)—though those aspects are barriers, as well. Low supply was a roadblock for just 11.2 percent of those surveyed.
"With home values close to record highs, it's no surprise renters are concerned about coming up with enough money to buy a home," says D...
20
5 Things to Check Before Moving In
Buying a new house is an exciting process that marks a new chapter in life. For many people, it's fun to shop around and tour different properties. When you're serious about purchasing a home, there are a few important parts of the property to check before you move in.
The Neighborhood
You should feel comfortable with the quality of the neighborhood, which will influence the value of your home. Look at the condition of the other homes and check to see if people are loitering at different times of the day. The house should also be in proximity to your job, or nearby schools if you have children. Some individuals who don't have a family may want to purchase a home in a good school district due to the impact that it'll h...
8
Navigating the Home-Buying Process: 5 Tips
Buying a home for the first time can be complex and daunting, especially in a competitive housing market. A new book, "My First Home: A Step-by-Step Guide to Achieving the Ultimate American Dream," aims to help first-time buyers navigate the process.
Below are five tips from author Shashank Shekhar, a blogger, media source and radio and television personality:
6
Getting Ready to Rent? Buying Might be a Smarter Choice
Between down payments and closing costs, buying a home is a big financial commitment that may seem out of reach for those who ultimately choose to rent instead. However, in today's market environment of rising rents, the difference in cost between renting and owning is actually narrowing, making this a favorable time to buy a home in most U.S. cities.
According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, 15 of the 23 cities covered are solidly in buy territory, while another five are only marginally in rent territory.
Want to know if buying is a better than renting for you? Ask yourself the following questions:
How stable is my employment situation? Lenders will take the length of time you've spent at your current job into consideration, so if you've jumped around a lot or just started a new position, that may work again...