Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if owning your own vacation home is right for you.An Ameriprise Financial survey sheds light on why people buy a second, or vacation, home (see below): Vacation destination or a place to get away from the stresses of everyday life (81%) – Having a second home to use as a vacation spot … [Read more...]
What You Need To Know About Today’s Down Payment Programs
There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped … [Read more...]
Worried About Mortgage Rates? Control the Controllables
Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do.The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky.That’s why … [Read more...]
Savings Strategies Every First-Time Homebuyer Needs To Know
If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more. Here are a few strategies that can help speed up that process. Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole. Cut Down on Unnecessary Spending: Now that … [Read more...]
Top Reasons To Own a Home [INFOGRAPHIC]
Some HighlightsBuying a home has powerful financial and non-financial benefits. It creates more stability, helps grow your net worth, and gives you an undeniable sense of pride.While today’s market can be challenging for buyers, use these reasons to remind you of why homeownership is so worthwhile. When you’re ready to enjoy all the amazing advantages that come with owning a home, get in touch with a local real estate agent. … [Read more...]
The Biggest Mistakes Buyers Are Making Today
Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now.Putting Off Pre-approval As part of the homebuying process, a lender will look at your finances to figure … [Read more...]
How Do Climate Risks Affect Your Next Home?
Climate change is impacting where people buy homes. As the experts at the National Association of Realtors (NAR) explain:“Sixty-three percent of people who have moved since the pandemic began say they believe climate change is—or will be—an issue in the place they currently live.”If you’re planning to move, climate change is something you might want to consider, no matter where you are. A recent study from Realtor.com helps put the growing impact climate change is having on real estate into perspective (see … [Read more...]
How VA Loans Can Help You Buy a Home
For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you know has served in the military, it's important to learn about this program and its benefits.Here are some key things to know about VA loans before buying a home.Top Benefits of VA Home LoansVA home loans make it easier for veterans to buy a home, and they're a great perk for those who qualify. According to the Department of Veteran Affairs, some benefits include:Options for No Down … [Read more...]
Worried about Home Maintenance Costs? Consider This
If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner).Newly Built Homes Need Less Upfront Maintenance If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing … [Read more...]
Why a Condo May Be a Great Option for Your First Home
Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short.They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below):So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to … [Read more...]
