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WHY WAITING MAY COST YOU A LOT OF MONEY

When the housing market is slow, there are more houses for sale and sellers may reduce the price to lure buyers in.  Some think it is a great time to buy, others prefer to wait to see if prices will drop even lower. One thing for certain, interest rates are going up and now it is a good time to lock in rates before they rise again.

In particular, first- time buyers want to lock in the rate before it goes even higher. It totally makes sense. If we anticipate for interest rates to rise, there is an incentive for home buyers to lock in today’s interest rates.

Others prefer to rent as a cheaper alternative, however, it is not the case. Buying a home creates equity, whereas renting only puts money in someone else’s pocket. Plus as a homeowner, you can benefit from tax breaks for owning a home. If you think that you should wait for prices to go down, and continue to rent. You are wrong. Once the money is gone, it is gone forever. No equity, no tax breaks!

Home purchase decisions are less financially driven than personal preference driven. No matter if the interest rate goes up or down, a fixed-rate mortgage protects buyers from market changes. Furthermore, renting is inconsistent and unreliable since it provides zero benefits.

Owning a home is a still a foundation of the American dream and a foundation for building wealth. Do your homework. Consult with a mortgage lender to see what you can qualify for. In addition, contact our team for market analysis and see it for yourself why waiting will cost you more.

-Aida Younis Team

Sugar Land & Fort Bend County’s #1 Real Estate Team.

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NO REGRETS: 3 WAYS TO FIND THE RIGHT NEIGHBORHOOD!

Knowing what you want—may not be the best option.

Some house hunters tend to focus too much on the house instead of the whole neighborhood. Extra bedrooms, an updated kitchen, a dreamy patio—these things may boost your future happiness while you’re at home, but what about when you walk out the front door?

It’s easy to forget to evaluate the whole neighborhood during a home search, and this can lead to neighborhood regrets. There is nothing much you can do about your area, but there are ways to even the odds.

Here are three ways to avoid neighborhood regrets:

1. FIND YOUR AGENT!

    Screening for the right real estate agent can drastically improve your chances of avoiding neighborhood regrets. How should you do it? There are over 400,000 realtors in the United States. Do not pick the first agent you see. Do your research! Don’t be shy! Make a list of top 5 agents in the area and call around, get friendly. Start a conversation by asking: “How many years of experience do you have?” Experience does not mean much if it cannot be backed with real-time data, including recently sold, leased, and featured listings. Google each agent and read their reviews. Finally, meet them in- person to see if they could be a match for your home search. Don’t second guess yourself. Trust your gut! Don’t forget realtors are people just like you.
    2. SCHOOLS AND SAFETY COME FIRST!

    After you picked your agent, ask them about schools and safety.  These two attributes are must-haves for most of us. Ask your agent for information about schools and safety, including safety maps, school ratings, and school reviews by local parents. Nothing compares to hear from those who already live in the area. Your agent may have children too. Don’t forget to ask. Remember! You can lay new floors, change granite, install new A.C. units but you cannot change your neighborhood.
    3. ASK YOUR AGENT TO SHOW YOU AROUND!

    Neighborhood regret often happen when buyers do not have enough information to gauge through the buying process. You are a hard-working adult. Who has time to drive around? You are absolutely right. Ask your agent to narrow down your search. Who wants to feel unsafe OR drive 30 minutes to the nearest grocery store? Ask your agent to preview a house for you. So you can save your precious time, instead of mindlessly visiting 30+ homes that you do not even like.
    Does anyone know what all three ways have in common? Real estate agent! Don’t call the first agent you see, but trust her/him when you selected one. Follow these tips and we hope to see you around.

-Aida Younis Team

Sugar Land & Fort Bend County’s #1 Real Estate Team.