Kelowna Home Inspector shares thoughts on Home Ownership from experts.
The idea of “home, sweet home,” is generally the same as it used to be.
A survey of homeowners by Bankrate.com shows that an amazing 90 percent of homeowners have no regrets about the purchase of their current home.
One reason: They like their homes. Though there may be lower values in many areas, and bargains on mortgage interest rates they didn’t get, they are still satisfied with their own place.
The second reason: They like the fact that they add equity to their homes every month. In years to come, they will have saved enough through monthly payments to have their big investment free and clear.
Some financial experts say paying off a mortgage is like having an annuity. That is, instead of getting maybe $750 a month from the annuity, you don’t have to pay $750 a month on a mortgage.
Another survey, this one by lender Fannie Mae, indicates that 70 percent of consumers still see a home as one of the best investments to make.
Their survey shows that 64 percent of those interviewed also think this is a good time to buy a home.
Buyers today are also more knowledgeable about mortgages, according to Fannie Mae. According to their survey, only 8 percent didn’t know what type of mortgage they have, compared with 26 percent of mortgage holders surveyed just two years ago.
In her new book: Buy, Close, Move In! How to Navigate the New World of Real Estate, Safely and Profitably, and End Up with the Home of Your Dreams, author Ilyce Glink answers questions about how much home buyers can afford, how to buy an investment property and how to buy a foreclosed property from a bank.
Your real estate agent has the answers to these questions and many more, but sometimes it’s fun to sit down with a book and dream about a new home.
Glink claims that almost anybody today can make money by flipping, selling or refinancing a home even after a short period of ownership.
We won’t guarantee that but it’s worth thinking about, especially if you’re handy with a paint brush.
This entry was posted on Sunday, June 16th, 2013 at 11:18 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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