Why Buy Instead of Rent In AL? | Tips for Renters and Buyers

Why Buy Instead of Rent In AL? | Tips for Renters and Buyers

People are consistently moving to Trussville, AL!  And when considering this beautiful community, many ask themselves, "should I buy or rent a home in Trussville?"  With interest rates at record lows and inventory "bouncing" up and down, now may be a perfect opportunity to become a Trussville Home Buyer!  

Perhaps you should ask a qualified Realtor, "Why buy instead of rent in Trussville, AL?"  So, here are some Tips for Renters and Buyers.

Pros of Renting:

1.  No risk -- no investment, no potential for loss.

2.  No (or low) maintenance -- the landlord/property owner does most repairs!

3.  No property tax bills . . . no mortgage.

4.  Mobility -- move frequently without the effort of selling. 

Pros of Buying/Owning:

1.  Feeling of accomplishment or achievement (status).

2.  Equity build-up . . . hedge against inflation.  ("forced" savings . . . how much are you saving now?)

3.  Tax deductions -- interest and taxes.  (If you're renting, you're paying these anyway for the home owner . . . but you get no deduction!)

4.  You decide what pets, flooring, paint colors, etc. to have!

5.  Stability -- you fix most of your costs -- another hedge against inflation.

6.  The American Dream -- you (probably) have the largest investment of your life!

If you'd like some professional advice on these matters, please call Bonnie Hicks 205-915-7653 for a FREE, no-obligation Home Buyer Consultation.  Find out if buying or renting makes the most sense for you!

5 Steps Buyers Should Take Before Buying a Home

5 Steps Buyers Should Take Before Buying a Home 

What is Your Next Step?

 

Step 1. Find a Local Lender You Can Talk To in Person
Local lenders understand your market and know of loan programs that might be beneficial to you. Check with your lender on any local programs that might help with closing costs or in other ways. Even though the media have pronounced the 100-percent-financing option dead, this is not always the case. Check it out for yourself and then get preapproved for a loan so you know how much house you're able to buy.
 
Step 2. Be Specific in the Area You Want To Live
Educate yourself. Familiarize yourself with the neighborhoods you're interested in, the taxes and school districts. This not only helps you narrow down your search when you need to move fast, but also helps you figure out potential mortgage payments. Search for homes in your desired neighborhoods.
 
Step 3. Find an Agent Specializing in the Area You Want to Live
This will save you time and effort. Once you've identified an agent, trust him or her to do the job. Agents who are thriving in this challenging market have proven their worth. They have the resources and skills to help you find your next home.

Step 4. Don't Shy Away From Houses That Need Some Work
Just because a house needs some paint or cosmetic fixes doesn't mean it's not a good buy. Most real estate agents have an address book full of trusted businesses they work with to help you fix up your new home. There’s a HUD program known as 203(k) that enables you to fold repair money into a primary mortgage; ask a RE/MAX agent in your market about the program..
 
Step 5. Be Prepared To Act
Sometimes the first home you see is the right one for you. Don't discount it. Remember, good deals still go fast. Take advantage of the electronic tools your real estate agent has to offer. In many instances, real estate agents have access to better information than what you can find in a standard Internet search.
 
© 2010 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.

Home Buying Tips

Home Buying Tips

Home Buying Tips

With low interest rates and a lot of inventory to choose from, it's definitely a buyer's market out there.  But before buyers can get to the closing table, there are many factors to consider and questions to ask.   Below you will find some home buying tips to help you with your search for a newhome. 

● Be conservative about how much you can afford. Having a clear picture of the cost of ownership will go a long way to alleviate your stress after closing and ensure that you don't feel "house poor."

● Clarify your motivation. Knowing your true motivation can also help you make a decision when you're torn between one or more properties.

● Determine if a HOA is important. Make an informed buying decision and know how you want to live after closing.  

● Check your credit rating. Would you qualify for a different program or a better interest rate if your credit score was higher? If so, should you wait and work on raising that score before making a purchase decision? A reputable, successful loan officer will be able to explain your options based on your personal situation.

● Learn whether sellers are negotiating within your range. Negotiating with a seller from a point of knowledge and a non-emotional perspective will go far to create a win-win situation.

● Identify the competition. Depending on your price range, the uniqueness of the property you're looking for and the absorption rates for those listings, you may face some serious competition for the seller's attention.

● Talk to the neighbors of any homes you're serious about. Home inspections don't catch everything, and banks are usually clueless about prior problems. Neighbors are usually more than happy to help.

● Work with an experienced agent!

Ready to Buy!

© 2011 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.

5 Tips to Sell a Home in the Winter

5 Tips to Sell a Home in the Winter 

Holiday Glow

 

 

 

 

Selling a home in December, January or February in frigid climates can be a tough task with a slowdown in market activity and chilly weather.

Typically, buyers searching in the winter months are more serious. And sellers who are motivated to close quickly can make it happen with your help this winter.

Here are five tips from RE/MAX Associates in Northern Illinois that you can share with your clients:

1. Let those lights shine. "Turn on all interior lights for a showing – even in closets and utility/mechanical rooms – and make sure all the bulbs are working. Stock up on all the right bulbs for your lamps and fixtures so you can replace burned out bulbs immediately. Also, it's a great idea to keep front exterior lights on even if no showings are scheduled.  Open drapes and blinds to let in light and show visitors the view."
– Marlene Granacki, RE/MAX Exclusive Properties, Chicago

2. Make entry easy. "Winter showings can get off to an awkward start if prospective buyers arrive with snow or salt on their shoes.  Make it easy for buyers to deal with their shoes when they arrive by putting out a nice, festive area rug at the front door so visitors can wipe their feet, and have slippers or disposable booties available. Also, put out a bench, if there's room for one, where visitors can sit and remove their shoes."  – Barbara Hibnick, RE/MAX Showcase, Long Grove

3. Keep odors under control.  "Homes can be stuffy in winter when windows are rarely opened, and that can allow odors to build up, which is a huge turn-off to buyers. Pet odors can be especially worrisome in winter. Use a room fragrance if needed, but nothing too strong, and clean more often (especially cat litter, which should be changed daily). Consider using an air purifier and adjusting your thermostat so that your furnace fan runs throughout the day to move air through the house and dissipate odors."
– Mike Mondello, RE/MAX Team 2000, Orland Park

4. Make it festive. "Appropriate holiday decorations can give your home a cheerful look during the winter months – and even help homes sell, however, don't go to extremes. Small, decorative white lights on trees and bushes are OK through the winter season, but other decorations should be taken down quickly once the holiday passes."  – Starr Zook, RE/MAX on Track, Aledo

5. Keep it comfy. Adjust your thermostat so the temperature is warm, but comfortable; you don't want it too hot or cold. "When it comes to keeping heating bills under control, don't use plastic sheeting to insulate your windows. You may save a few hundred dollars on heating costs if you cover the windows with plastic, but it could cost you thousands on the sales price because buyers might believe they will have to replace the windows," Hibnick says.

http://www.bonniehicks.com

 

© 2010 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.