Posts tagged buying buy owner

5 Reasons to Buy a Home

Mar23
2010 1 Comment Written by Shanna

Long called The American Dream, home ownership is a privilege worth pursuing. There are a lot of reasons to choose to buy a home, especially right now:

  1. OWNERSHIP: Whether you rent or buy, you have to live somewhere, right? Buying your own home gives you pride of ownership, a sense of pride in what you’ve purchased, not to mention the peace of mind of no rent increases.
  2. LONG-TERM INVESTMENT: If you’re planning to settle down and put down roots in your city, buying a home is usually a smarter financial decision than renting. Think about it: At $1,000/month for 10 years, you will have put $10,000 into your housing, and you’ll have absolutely nothing to show for it. If you buy your home, however, you could have $10,000 in equity. Plus, over time, most properties appreciate in value, giving you even more increased equity.
  3. TAX BENEFITS: There are consideration tax benefits for owning a home. If you itemize, your mortgage interest is deductible, up to one million dollars. Also, if you have owned your principle residence for at least two of the last five years, when you sell it, you can keep up to $250,000 ($500,000 for a married couple) of the sale price, totally tax free.
  4. BUYERS’ MARKET: Because we are currently in a buyers’ market, there’s never been a better time to shop around. You’ll have plenty of properties to choose from and, most likely, they will be priced affordably.
  5. TAX CREDITS: Plus, one of the great perks of buying a home right now is that the government wants to make it easier for you. The current tax credits still provide significant financial savings, up to $8,000 in tax credits for first-time buyers, in addition to possible credits for existing home buyers.

Think you’re ready to take the plunge? Head over to BuyOwner.com to search through available properties!

Posted in Buying Tips, Tips and Ideas - Tagged , , ,

Top 10 Tips for Buying Vacant Land

Feb17
2009 Leave a Comment Written by Alicia

vacant-land

Thinking of building your dream home on vacant land? There are certain things that you must consider. More thought goes into the purchase of land than the purchase of a home. Here are 10 tips to know before buying land.

1. When looking for land, make sure you know what your plans are before purchasing it. This will help you imagine where you will put the house, barn, driveway, etc.

2. Know that you need permission to build on vacant land. Get your building permit and find out what rules you must follow, like how close you can build to a river.

3. If you plan on building a house on the land, check with utility companies to see if gas and electric are available for this land.

4. Find out if public water is available to this land. If not, you will need to fit a well system into your budget.

5. Also find out if public sewer lines can manage your land. If not, you will also need to fit a septic system into your budget.

6. Check the weather history in this area to find out if it deals with lots of flooding, tornados, etc. This will help you make smart building decisions.

7. Check with the local city government to find out what the future building plans are for this area. If a major expressway is in the works, you may decide not to purchase the land. It’s all about location!

8. Consider your everyday habits. Are you on a cell phone a lot? Find out if you get service in this area. You may need to adjust your lifestyle in numerous ways.

9. Add up all of the costs that you will face. Once you purchase the land, figure out how much it will cost to build your dream house. You don’t want to find yourself in a lifetime of debt.

10. After purchasing the land, consider fencing it, great for keeping animals, hosting parties or enjoying the privacy of your property!

Posted in Buying Tips, Tips and Ideas - Tagged , , ,

Who’s Buying Houses?

Jul13
2008 1 Comment Written by Shanna

New home

Even in today’s tougher market, people are still starting out, moving, transferring and upgrading, selling and buying homes as they do. In fact, there are all kinds of different, still-common reasons that prompt browsers to become buyers, whether a first-timer or someone who has to sell and buy.

Whether you’re one of these buyers, a seller or just someone looking for some perspective on the real estate market, consider these circumstances that make people buy.

    1. FIRST-TIME PURCHASE: It’s the American dream to own your own home, and many renters nationwide work toward that eventual goal. When it comes time to buy, these future homeowners start their hunt, looking for their first places.
    2. NEED MORE SPACE: There’s a reason they call your first place your “starter home.” You start out with it, and, as your household and its possessions grow, you move. It’s probably the most common situation that makes people relocate. Lack of space prompts homeowners to start looking for something bigger, better equipped to meet personal needs.
    3. WANT A NICER PLACE: Americans are known for wanting the biggest and best of things, and this is especially true of houses. Sometimes moving can mean getting a fancier kitchen or a larger closet, without the hassle of renovating.
    4. RELOCATION/JOB TRANSFER: With today’s work force changing jobs several times throughout their careers, relocations are a part of life. Whether moving within the area, to be closer to work, or transitioning to a new state where a job is located, homeowners find themselves packing up and starting over.
    5. LOCATION/NEIGHBORHOOD: Sometimes, moving can mean being closer to friends/family or nearer local conveniences. Alternatively, moving can give you a location further out from busy cities and out in the country. Similarly, as time goes on, neighborhoods change. For people who aren’t thrilled with the changes, moving may be the way to find an area they do like.
    6. FINANCIAL ISSUES: Sometimes, a buyer may wish to relocate to downsize current mortgage payments. A growing problem nationwide, variable-rate mortgages and high interest rates have forced some homeowners to change living situations.
    7. COMBINING LIVES: Shared living arrangements often go hand-in-hand with serious relationships and marriages. This can often mean one or both parties will choose to leave their current home(s) and find one together.
    8. DIVORCE: Divorce is a reality today, and with it come the complications of home selling. Often, a couple will sell the home to arrange for the division of the proceeds.
    9. DOWNSIZING: It can become increasingly difficult to maintain a large home, and different seasons of life prompt homeowners to downsize to condos, townhomes and smaller places.
    10. RETIREMENT: As older age approaches, people want to retire to new locations or more easy-to-maintain residences. With so many adult communities popping up across the nation, the options abound!

What about you? Are you looking for your next place? Head over to Buyowner.com to see what’s available!

And if you’re also selling a home, consider using Buy Owner, the leading FSBO company in the nation, to help you market your home best!

Posted in General Information, Market News, Tips and Ideas - Tagged , ,

Buying Old vs. New Homes

Dec28
2007 Leave a Comment Written by Shanna

New Home 

Why Buy New Construction?

1. Competitive Price – New developments make it easy to compare homes with other new properties in the market, equating value to value. All the homes are the same age, and the options are listed upfront with the price breakdown. You won’t have to factor in extensive remodeling work, as the home will have been freshly designed.

2. Warranties – New homes come with at least one-year general warranties. Most likely, major appliances will be warrantied for five years, including air-conditioning and heating. Plus, many new developments feature longer structural warranties, underwritten by insurance companies.  

3. Brand-New Quality – New homes have never been lived in and offer all brand-new features. Everything will be immaculate, unstained and fresh, providing you with a clean slate of luxury. Building materials are constantly improving, becoming easier to maintain and more technologically savvy. Brand-new homes utilize the most updated products and features; plus, they’re often much more energy-efficient than older ones.

4. Location – Usually set among similar homes, new construction properties are often on the outskirts of town, and they may feature community amenities like parks, pools, etc.

 Old Home

Why Buy an Older Home?

1. Included Extras – Existing homes often will include little extras like custom window treatments, well-maintained landscaping, or maybe even a pool. These features would probably cost extra money to add on or create for a new home.

2. Character – Older homes often showcase architectural details and design that new homes lack; they aren’t cookie-cutter replicas of one another. Plus, they’re time-tested and of good quality, often set in established neighborhoods with mature trees.

3. Price – Sometimes older homes work out to be a better value, if you’re willing to invest. Often, newer homes cost more money per square foot. Be open to putting time, money, or work into an older property, and you may be able to get a great deal on the cost.

4. Location – Because they were created first, older homes tend to be closer to the center of town and near many conveniences.

How to Decide?

You’ll want to weigh all the important factors, considering what means the most to you. In addition to evaluating the pluses with either option, take a look at the different neighborhood amenities, taxes, landscaping, maintenance, potential, energy-efficiency, etc. Go into the decision-making process armed with knowledge, and you’ll make the decision that’s best for you.

Posted in Buying Tips, Tips and Ideas - Tagged , , ,

When Are You Ready to Buy Your First Home?

Dec04
2007 1 Comment Written by Shanna

First House1. When you know what you want
Some things you may already know—how many bedrooms you need, what kind of a commute you’re willing to deal with—but some things might come up as you search. Browse through properties at www.buyowner.com and see the many home options. Prepare a list—even if just in your mind—of non-negotiables and things you’d like but could compromise on.

2. When you know what you can spend
Buy Owner’s mortgage partner, Guaranteed Rate, provides mortgage calculators online to help you determine what you can spend. In addition to considering the price of the home, be sure to factor in home insurance, taxes and other scheduled costs.

3. When you’ve researched mortgages
Guaranteed Rate will also help you find the best mortgage rate, maximizing the value you’re able to obtain. Did you know there are many different types of mortgages and that the same loan isn’t right for everyone? Guaranteed Rate can help you find the best rate for you.

4. When you’ve saved money for a down payment
The amount of money you end up spending on your property, long-term, depends on three things: the mortgage rate, the term of the mortgage and the amount borrowed. It’s a good idea to plan on at least a 20% down payment, as that reduces your amount to pay interest on.

When these things are in place, you’re ready to start searching for your own home.

I’m ready! Now what?

At www.buyowner.com, you can punch in search criteria and see homes that match your desires. The listed phone numbers put you in contact with the sellers, so you can schedule a showing with the home owner directly and go from there. Plus, buying from a Buy Owner seller has distinct advantages that help you maximize your buying power and make your buying experience go smoothly. Good luck, and have fun!

Posted in Buying Tips, Tips and Ideas - Tagged , ,

About the BuyOwner.com Blog

Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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