Home Purchase

Homeownership – it is a great feeling. For most people, tax and investment benefits make home ownership an attractive option compared to renting. Mortgage interest and property taxes reduces both taxable income and overall tax bill. Most or in some case all of your gains can be tax free when you sell the house for a profit. Home is not only your shelter but also a great wealth builder. Even though there is no guarantee that home values will always rise, historically it is the most valuable asset that people hold in large numbers whose values have always gone up over time.

It is always advisable to work with an agent when you buy a home. But before you do that it is always better to boost your bargaining power by getting yourself pre-approved for loan. Sellers like offers where buyers are already pre-approved. Lenders base how much you can afford on variety of factors like down payments, debts, credit history, employment records.

Negotiate for credit with Real Estate Agent so that some of your closing cost can be covered. Do some market research and find out which agents are willing to cover some of your closing costs from their commission. Less closing cost from your pocket means more savings and cash saved.

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