Buying A Home – 7 Reasons To Own Your Own Home

Best Realty Edgerton Own your own homeBuying A Home – 7 Reasons To Own Your Own Home

  1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.
  2. Gains. While there’s no guarantee of appreciation, real estate has traditionally appreciated between 2% – 3% per year in our market.
  3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home. [Read more…]

Buying A Home – 10 Steps To Prepare For Home Ownership

Best Realty Edgerton Wisconsin Janesville Stoughton MiltonBuying A Home – 10 Steps To Prepare For Home Ownership

  1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
  2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
  3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
  4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price. [Read more…]