The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. According to the latest research from the National Association of Realtors (NAR): “Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.” An … [Read more...]
Ten Tips to Selling Your Home and Buying a New One Part 3: “What if I Mess up My Timing or Burn Out From the Stress?”
When you’re in the pressure cooker of a home sale or have been shopping for a home for a while in a competitive market, it’s easy to get carried away by stress and emotions. To make sure you’re in the right headspace for your homebuying and selling journey, take the time to slow down, breathe and delegate as much as possible. In addition: Tip #8: Relax and accept that compromise is inevitable Rather than worry about getting every detail right with your housing search and home sale, trust that … [Read more...]
Ten Tips to Selling Your Home and Buying a New One Part 2: “What if I Get Stuck With Two Mortgages at the Same Time?”
This is one of the most common concerns that we hear from buyers who are selling a home while shopping for a new one, and it’s realistic to expect at least some overlap in mortgages. To make sure you don’t get into a situation where you are carrying dual mortgages for longer than you can afford, examine your budget and calculate the maximum number of months you can afford to pay both.⁴ If you simply can’t afford to carry both mortgages at once, then selling before you buy may be your best … [Read more...]
The Truth About Today’s Buyer Demand
When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows. Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer … [Read more...]
10 Tips to Selling your home and buying a New One: Part 1 “What will I do if I sell my House before I can Buy a New One?”
Even seasoned home sellers are thrown for a loop when needing to sell their home when and shopping for a new one –especially when the demand for new homes keeps rising, but the supply feels like it’s dwindling.¹ Its normal to experience conflicting emotions: know you’re not alone either if you’re already feeling drained by the complex logistics of trying to sell and buy a new home all at once. Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, … [Read more...]
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