Q.I’m thinking about purchasing a home. What should I know before buying?
A. If you’re thinking of investing in a house now or wondering whether you should wait, here are three important things to consider:
1. Renting vs. Buying. If you rent a home, it could cost you less each month...and you might have more money to invest in other endeavors. But if you put your money in a low-interest money market fund, generally you will not earn as much as if you had invested your money in a house.
2. Housing Prices and Interest Rates. You may be waiting for the housing prices in your area to fall. They may not. However, usually when they do, the interest rates will be higher. The amount you gain could be significantly less over the long-term cost of the mortgage. Therefore, waiting may not be in your best financial interest.
3. The Break-Even Point. The average break-even point for buying and selling a house is three to five years. If you plan to move before then you may want to seek professional advice before purchasing property if you want to realize a profit on your investment.
If you are in the market for a buying or selling a home and need competent and caring representation, please call me at 905-925-0007 or email at [email protected].
Author:Jeremy Romano Phone: 905-925-0007 Dated: June 14th 2017 Views: 145 About Jeremy: I am a Full-time Realtor in the Durham Region and Kawartha Lakes market, and have lived here for ove...
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For years now, Jeremy Romano Team has been going above and beyond for their clients within the Durham Region and Kawartha Lakes Area. They help more people using their unique approach and passion for real estate. Whether you are buying a house for the first time, looking to up-size, downsize or invest, Jeremy Romano Team is there to guide you.
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"We recently had that pleasure of dealing with Jeremy for the purchase of our cottage. We found Jeremy to be a patient, knowledgeable and a friendly real estate agent who knows the area inside and out. He walked us through every step of the process, answered all our related and unrelated questions (by e-mail and by phone) and took all the potential stress out of the experience. He offered sound advice and buying tips, but he also knew when to stand back and let us discover things for ourselves. He is not pushy at all, and spent as much time as we needed visiting and revisiting homes. Real estate agents are plentiful nowadays, but when you get one that’s good you hold on for dear life. We found out that Jeremy is someone that’s going to look out for your best interest."