Freedom & Individualism
When you rent, you are normally limited on what you can do to improve your home. You have to get permission to make certain types of improvements. Nor does it make sense to spend thousand of dollars painting, putting in carpet, tile or window coverings when the main person who benefits is the landlord and not you.
Since your landlord wants to keep his expenses to a minimum, he or she will probably not be spending much to improve the place, either.
When you own a home, however, you can do pretty much whatever you want. You get the benefits of any improvements you make, plus you get to live in an environment you have created, not some faceless landlord.
Both indoors and outdoors, you will probably have more space if you own your own home. Even moving to a condominium from an apartment, you are likely to find you have much more room available – your own laundry and storage area, and bigger rooms. Apartment complexes are more interested in creating the maximum number of income-producing units than they are in creating space for each of the tenants.
If you are moving to a home for the first time, you are going to be very pleased with all the new space you have available. You may have to even buy more "stuff."
The Best Investment
As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.
Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds.
But take a second look…
Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage, too. Suppose you put as much as twenty percent down – that would be an investment of $40,000.
At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual "return on investment" would be a whopping twenty-five percent.
Of course, you are making mortgage payments and paying property taxes, along with a couple of other costs. However, since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase.
Your rate of return when buying a home is higher than most any other investment you could make.
Start setting aside money now. Do you know how much money you’ll need to save up for your home costs? If you need help figuring it out, use our mortgage calculator tool. Now is the best time to start saving any extra money that you have so that you can build your down payment.
When you start shopping, this is the time to already know what it is you’re looking for. You need to know exactly what you’re looking for. More than just bedrooms and bathrooms, you need to take into consideration location, commute time, nearby schools, the neighborhood, and more. The more detailed you are in your description of the perfect home, the better. It’s also important to keep an open mind. If something as small as an old shade of paint is keeping you from purchasing a home, you need to open your mind up. Paint is easy to replace, but the perfect home isn’t.
Figure out which neighborhood is right for you. Before you decide which home you would like to buy, you need to consider what neighborhood you would like to live in as well. The internet is a great place to browse a house for sale from your current home, but you won’t know what these neighborhoods are like until you visit them in person. Take some afternoon drives through the neighborhood streets to get a better idea of the area. To find out more about the city, visit the City of Goldendale website.You can also learn a lot about the city from the Chamber of Commerce’s page.
Submit a strong offer. Submitting a strong offer can be the difference between getting the home of your dreams, and being rejected. However, submitting an offer that is neither too high or too low can be very tricky. Your best bet is to get expert advice from the dedicated agents at Coldwell Goldendale.
Read the fine print. Reading through your entire contract from beginning to end may seem tedious, but it is very important. From regulations to housing authority covenants to contingencies, there are so many items that could leave you with a surprise after closing if you’re not diligent. Look over your contracts and contingencies and make sure you’re happy with the considerations.
Get your agreements in writing. As always, it’s imperative that you get all agreements in writing. Your documents will be invaluable as a reference later if you need them. Our Goldendale, WA, realtors are the perfect people to help you make sure all of your agreements are met in the contract.