New Or Used: Which Is For YOU?
When it comes to buying a home, there are two main options available to homebuyers: buying a resale residential or buying a new build house. Each option has its own advantages and disadvantages, and even some things in common. When finding your new home, it’s important to see how both of them fit into your search, and which may be the right one for you. Here are a few of the common advantages of buying a resale house: Established Neighborhood: When you buy a resale residential, you are buying into an established neighborhood with established schools, local amenities, and a sense of community. This can be a big advantage for families or individuals who want to be part of a close-knit community. Lower Price: One of the most significant advantages of buying a resale residential is the lower price compared to a new build house. Generally, resale homes are less expensive than new homes, which can help you save money and stretch your budget further. Move-in Ready: Another advantage of buying a resale residential is that it is typically move-in ready. This means that you can move in as soon as the sale closes, whereas new builds may still need to be developed, or even built from the ground up. Opportunity for upgrades: Resale properties may offer the opportunity for upgrades and renovations, allowing buyers to customize their home to their specific needs and tastes. This can be a fun and exciting process for buyers who enjoy DIY projects or who want to make their home have a personal touch. Advantages of buying a new build house: Customization: One of the main advantages of buying a new build house is the ability to customize the home to your needs and preferences. With a new build, you can often choose from a variety of floor plans, finishes, and upgrades to create a home that is uniquely yours. Modern Amenities: New build homes often come with modern amenities, such as open floor plans, high ceilings, and smart home technology. This can be an advantage for those who value modern living and convenience. Warranties and Guarantees: New build houses often come with warranties and guarantees that protect you from any construction defects or issues that may arise after the sale. This can provide peace of mind and help you avoid unexpected expenses. Less Maintenance: New build houses typically require less maintenance than resale homes, as they are built with modern materials and construction techniques that are designed to last longer and require less upkeep in the immediate future. Both resale residential and new build houses present unique opportunities for anyone buying a home. If you are looking for an established neighborhood and a lower price point, a resale residential may be the best option for you. If you want a home that is customized to your needs and preferences, and has modern features, a new build house may be the best choice. Ultimately, the decision will depend on your personal preferences, budget, and needs.
Protect Your Home From Spam Calls
You might have heard them before- unwanted calls trying to convince you anything and everything about credit or insurance. Whether they’re trying to sell you something, or take something from you, we all get ‘em. Spam calls are (unfortunately) not going anywhere anytime soon, but there could be a few things you can do to prevent them. Often referred to as “trigger leads,” they’re almost intentionally designed to overwhelm and fearmonger on behalf of mortgage and insurance companies. If credit is pulled, these companies automatically start sending as many points of contact as they possibly can to get your attention, and anxiety. It’s gotten to the point that lenders don’t even have to enter your information at the time of pulling credit, in order for these spams to get ahold of your email or phone number. On top of that, credit bureaus sell your information. No matter what, someone somewhere will be willing to buy, so places will always be willing to sell. But, there is something you can do to get the law on your side, preventing most, if not all, spam calls regarding this. It’s as simple as an “opt-out” from spam calls as a result of your information being sold to advertisers. It takes about a minute to complete, 5 days to go into effect, and saves you countless hours of headache. Here are the steps, with two different ways to go about it: Method 1: Visit www.optoutprescreen.com and submit an online form. This method stops trigger leads for about 5 years. Method 2: Complete a different form at the same place (www.optoutprescreen.com) and then print, ink sign, and mail a letter generated by the form to confirm your opt-out submission. This method stop trigger leads - permanently. Both methods take about 5 days (not counting letter delivery time) to take effect, so if you want to avoid having your information sold altogether, it’s best to do this at least a week before making an inquiry. If your information is already stuck in the pool of trigger leads and snagged by companies, then you’ll likely still find yourself blocking a few numbers here and there, even after opting out. However, at least you’ll still be able to be sure it won’t get worse, or if you update information, it won’t also get sold. Opting out means you’ll be off the lists supplied by Consumer Credit Reporting Companies, Equifax, Experian, Innovis, and TransUnion. It’s your right under the Fair Credit Reporting Act (FCRA) to opt out of these offers of insurance or credit for 5 years, or permanently. So act on your right, and save yourself from having to press “block” so many times your head starts to hurt.
Loan Types, Tricks, and Tips
When it comes to buying a home, most people require some form of financing. Home loans are a popular option for people who want to buy a home but do not have the cash upfront to do so. There are different types of home loans, each with its own unique features and benefits. Here's a quick rundown of the most common ones, and what makes them different. Fixed-Rate Mortgage: A fixed-rate mortgage is one of the most popular types of home loans. With a fixed-rate mortgage, the interest rate remains the same throughout the life of the loan, which can be up to 30 years. This means that your monthly payment will not change, making it easier to budget for your mortgage payment. Fixed-rate mortgages are ideal for people who want predictable payments and plan to stay in their home for a long time. Adjustable-Rate Mortgage: An adjustable-rate mortgage (ARM) is a type of home loan in which the interest rate can change over time. The initial interest rate is typically lower than a fixed-rate mortgage, but it can increase or decrease after a certain period. This can make budgeting for your mortgage payment more difficult, as your payment can increase or decrease over time. ARMs are ideal for people who plan to move or refinance before the interest rate adjusts. FHA Loan: An FHA loan is a government-backed loan that is designed to help people with lower credit scores or less money for a down payment to buy a home. FHA loans have more lenient credit requirements and allow for a lower down payment than conventional loans. However, FHA loans require mortgage insurance, which can increase the monthly payment. VA Loan: A VA loan is a type of home loan that is available to veterans, active-duty service members, and their spouses. VA loans do not require a down payment, and they have more lenient credit requirements than conventional loans. However, VA loans require a funding fee, which can be added to the loan amount. USDA Loan: A USDA loan is a government-backed loan that is designed to help people in rural areas buy a home. USDA loans require no down payment and have lower interest rates than conventional loans. However, USDA loans have strict income limits and require the property to be located in a rural area. There are several types of home loans available, each with its own unique features and benefits. It is important to consider your financial situation and long-term goals when deciding which type of home loan is right for you. A qualified mortgage professional can help you understand your options and choose the best loan for your needs, so don’t hesitate to reach out to your realtor and find out who may be able to help you.
Recent Posts
