Five Things to Consider Before Buying a Home in Rochester

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As we head into the spring real estate market, I'd like to provide you with some tips on how you can find your dream home. Choosing a good home is never easy, but you can form a clearer picture of what you need by considering these five things.

1. Go for the long haul: Most people live in a home for 5-7 years, so be prepared to make a long-term commitment when you purchase a home.
2. Leave room to grow: It's always best to buy a home that's a little larger than you would like it to be. You might not think that you could use all the space, but you never know what might happen and you will most likely end up using all of the space in your home. 
3. Check the surrounding areas: You're not only buying a home, you're investing in a neighborhood, so make sure that you fit in well and that the area you live in matches your needs. 
4. Buy what you can afford: A monthly mortgage payment won't be your only expense. You'll be paying insurance, utilities, and possibly even more. Expenses can add up quickly, so you need to leave plenty of wiggle room in your budget.
5. Think about your future: A home is an investment, and you should be thinking about how difficult or easy it might be to sell your home in the future.

Hopefully these tips have been helpful for you if you're considering purchasing a home in Rochester this year. I would love to be of assistance to you!

How to Transition From a Current Home to a New One

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Transitioning from a current home to a new one can be difficult and stressful. Almost all buyers are also sellers, and most sellers are also buyers. This is a common problem, but this is also one that I've dealt with many different times. 

Some common considerations to make in this situation are:

• How quickly you could sell your home for the price that you need to purchase another.
• What is the availability of the type of home you need to purchase?
• You need the proper terms to sell your home so that you can move into another in the proper time frame.
• Contingencies will need to be written into a sale contract by an experienced negotiator such as myself.

I can be particularly helpful in situations like these because I have 13 years of experience with mortgage banking, so I could simultaneously help you sell your home and also figure out how to purchase another. 

If you need help planning a difficult transaction such as this, please don't hesitate to call me. I'm always here to help!

Five Reasons to Buy a Rochester Area Home

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Want to buy a Rochester Area Home? Search all homes for sale.

Affordability is at an all-time high right now. Interest rates are low, and loan products from Fannie Mae and Freddie Mac are allowing consumers to buy with only 3% down. Even rates for private mortgage insurance have dropped, and this perfect storm of financing changes is making 2015 a fantastic year to invest in a home. It's difficult for me to imagine a better time to purchase, and on top of these financial incentives, I have five more reasons why owning a home is beneficial to you.

1. Homeownership leverages your money: If you purchase a home, it's likely going to appreciate in price, so you own an investment that you should make a profit on. Other than regular maintenance, there is not a whole you have to do to profit off of this investment. 
2. You're paying anyway: You have to pay for housing either way, so why help to pay off someone else's mortgage when you rent a home? When you own a home, your monthly payments go towards an investment that you can gain equity in.
3. It's a forced savings account: You're making a monthly payment, a portion of which goes toward your principle balance, and in 15 or 30 years, you will have the savings of your home's value. 
4. Tax incentives: Property taxes are deductible, and mortgage interest is tax-deductible. There are many tax cuts that you receive when you own a home as opposed to when you pay rent on a property. 
5. A home protects against inflation: When inflation occurs, your home gains value, so your equity increases and your wealth does too.

If you're renting right now, I highly suggest you start considering a home purchase. Homes are wonderful investments for the future, and there are actually a lot more benefits to homeownership than I could discuss in the time frame of this video.

If you need any help with buying or selling real estate in the Rochester area, please feel free to contact me. I'm always happy to help!