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9
The Real Cost of Homeownership
Anyone who's owned a home before knows their expense extends beyond insurance and a mortgage. How much, really, does homeownership cost?
According to the U.S. Census Bureau's American Housing Survey (AHS), recently released with data from 2015, the real cost of homeownership factors in not only financing a home, but also maintaining and living in it. Spotlight stats from the survey include:
- Eighteen percent (the majority) of households that built or purchased a home in 2015 did so with a down payment of 11-20 percent. Less (15.2 percent) put down 21 percent or more. Even less (12.9 percent) put down 6-10 percent.
- Ninety-five percent had only one mortgage; 5 percent had two mortgages. Of the nearly 40 percent who refinanced their one mortgage, 71.2 percent refinanced for a lower interest rate.
2
Top Tips to Become a Proactive Homeowner
We've all heard homeownership sometimes referred to as "a money pit." Sure, homes are expensive, but there is no substitute for the sense of pride and comfort you achieve from living in a space that is truly your own.
Young homeowners decorating their house[/caption]
That said, it's true that from the day you move in to the day you sell your home, there will always be something that will need to be repaired or even remodeled as you—and your family—grows, shifts and changes. But to be a proactive homeowner, you will want to keep an eye out for the small issues that could cost big bucks down the line—like a crack in the foundation or a drafty window.
Below are a few top tips for forward-thinking. This information will protect your real estate investment far into the future:
Take Inventory
Get in the habit of...
18
5 Things to Look for in a Neighborhood, No Matter Where You Move
Since relocating is such a major undertaking, it's vital to thoroughly research your options. This is especially essential regarding an overseas move. Here are five things to assess in a prospective neighborhood to ensure you'll feel at home, no matter whether your new home is here or abroad.
1. Transportation
One consideration is how you'll navigate your new surroundings. Find out whether you'll have access to public transportation or need a car. If you can use public transit, what are the service hours and stops? If you require airport proximity, determine how you'll get there. Do you currently have a job lined up? If so, calculate the distance of the commute from the neighborhood in question. Will the trip be a cakewalk, or grueling? According to World Knowing, the top-ranked countries with the best...
11
What You Need to Know about the VA Loan Program, and How It Can Benefit You
Our military personnel do a great deal for our country, and one of the ways the government thanks them for their service is with the VA loan program, which allows both past and current military personnel a better option for financing.
Originally established in 1944 as part of the Servicemen's Readjustment Act, a VA loan is available for any individual who has served in active duty in any branch of the U.S. military for a minimum of 90 days, and it has helped millions of people and their families purchase a home.
In addition to servicemen and servicewoman, non-active duty personnel, such as individuals in the Army Reserves or National Guard, may apply for a VA-backed mortgage, provided they have completed six years of service. The spouses of deceased or missing military members are also eligible if they have not remarried.
The ma...
9
A Night at The Races
We are proud to say, it has been a longstanding tradition for Century 21 American Homes to give back to the community. One of the organizations we support is the Easter Seals. This organization has been near and dear to our hearts for many years. With the support of our realtors, friends, family and customers, we have consistently been a Top Century 21 contributor to the Easter Seals.
Next week, we will be continuing our tradition of supporting this organization by sponsoring "A Night at the Races."
Event: A Night at The Races
Location: The East Meadow Fire Department, 97 East Meadow Ave, East Meadow NY 11554
Date & Time: Thursday, 11/17/16, 6:00pm
Cost: $35.00
Food, Beer & Wine Included - All Proceeds go to Easter...