Buying a home is a way to increase equity through making mortgage payments. Another potential positive is price appreciation of the home. These are financial benefits of owning a home.
There are also some costs that associated with buying a home that people need to be aware of.
Inspection and appraisal costs usually paid by the buyers.
Closing costs are typically 2% to 4% of the mortgage amount.
Taxes are also costs collected on the home and they tend to increase over time.
Insurance is another cost that will most likely rise over time and lenders will require home insurance.
Community fees (homeowners and condominium fees) are typically paid quarterly and/or monthly.
Utility bills, lawn maintenance and continuious repair bills are also things to take into consideration.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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I am well informed with your blog. A lot of thanks for sharing.
ReplyDeleteZummi