Buying a home raises a lot of questions. We know
because we answer those questions every day.
Through the years, we've found that some basic
questions turn up again and again. Yet different
buyers have different needs and a constantly
changing marketplace raises new questions.
Our goal is to help you get straight answers to
your specific questions. To make it easier for
you, we've put our experience into this
handbook. You'll find answers to basic and
difficult questions. You'll also find we've
grouped our know-how into three parts: Getting
Started, House Hunting and Buying.
In the next pages, you'll develop your own "road
map" to finding the home that best suits your
needs. Once you're finished reading, you'll
probably have even more questions. That's when a
professional real estate agent will begin to
guide you personally through the homebuyer's
maze and answer your specific questions as they
come up.
From experience, we know there is no substitute
for the knowledge of a professional agent. After
all, home buying is an adventure to be enjoyed
and an agent can make your home search easier
and faster. We look forward to working with you.
You benefit from an agent's services in many
ways, such as:
Helping you set up a plan of action through an
analysis of your needs and your finances, the
current housing market, homes available in your
price range and lenders' mortgage options.
Guiding you through the intricacies of making
an offer on a home and presenting your offer to
the seller.
Assisting you through both the pre-settlement
and settlement processes.
What do people mean when they say home ownership
is the key to financial security?
The benefits of home ownership are both
financial and psychological:
Home ownership is a durable (real) investment.
Historically, housing has appreciated in value
for decades. Although no one can say a specific
home in a specific location will increase in
value, generally speaking the odds favor most
homeowners. Also, monthly mortgage payments (the
part that reduces the principal loan) becomes a
solid form of savings.
Numerous unique tax advantages are available
to homeowners. Unlike other investment tax
shelters, home ownership works for you even as
you live in your investment. For example, the
thousands of dollars you pay in mortgage
interest (discussed below) is deductible. This
tax deduction alone can sometimes make owning
your home cheaper than renting with "after tax"
take-home dollars.
By accumulating equity in your home, you can
later "move up" to another home, with a good
down payment on hand.
Home ownership offers you the opportunity to
take control of your housing costs. Mortgage
payments (even on adjustable-rate mortgages) are
more predictable than rent.
Owning your own home allows great freedom of
choice in choosing your community, architecture,
interior decor, appliance selection--plus
whatever method of financing best suits your
situation.
Sacramento home buying continued
