Are You Going House-Poor? Top Home Buyer concerns Answered

The thought of buying a home can run chill up your spine! Yet, to own a home, nothing can feel more comforting. Of course, it’s not the house you fear, it’s the real estate listing that paralyzes you from taking a step beyond idle window shopping. We understand what’s haunting you!

An experience of 40 years in assisting clients to buy or sell homes in Spring Hill, Tennessee, we know one major thing that home buyers have in common – Fear(s)! Following are the concerns that you might have and their answers.

Home Buyers Concern No.1 - The Fear of Not Being Affordable

Most home buyers visiting Spring Hill Reality have a fear of putting their entire savings into a black hole. One expenditure will bound them from affordability of new clothes, vacations, and other life entertainments.

Reality – Of course it matters what you’re buying and where you’re buying, but it still shouldn't drain your savings account. If you are emptiing out your piggy bank, you should reconsider your budget. You will always have the option of using great loan programs.  It’s wise to determine your financial condition by talking to a loan officer or visit us and get your debts, income, and other information calculated to understand what you can reasonaby afford.

Home Buyers Concern No.2 – Affordability against Choice

The current economy can lead buyers to a belief that buying a home will never deliver them to the place they want to be. Breathe in and let yourself realize if economy is in another downturn, most great properties will be sold under value. Within even a bustling economy there are mini peaks and valleys along the way. Look for that sweetspot of the most ideal time to buy.

Home Buyers Concern No.3 – What If I Buy a Money pit?

A rapidly disintegrated old house can only make your life and bank account shredded – in movies. In reality, even if a house has a number of potential issues, you can do plenty to protect yourself.  Hire yourself a home inspector, he or she will be able to detect the damages and problems and will provide leverage for paying less. Get a home warranty to limit that amout you will come out of pocket. Research the amount of time that a home has been on the market. Chances are, if a home is listed for more than 90 days, it is either priced too high or there may be something wrong with it.  

Home Buyers Concern No.4 – The Fear of Overspending

The asked price of a house might always seem doubtful and unholy. But remember that you will be in hands of real estate agent; the price asked is just what the seller wants. Your Spring Hill realtor will help you pay a realistic price and will also help you see the prices of the recently sold houses, and all the newly added homes for sale in Spring Hill, Tennessee. This helps you can compare and understand.

Home Buyers Concern No.5 – Reluctant for Buying During the Election Year

Presidential years keep many buyers hidden under the covers until the "curse" of November lifts. But here’s the truth: the election will not affect you and your choice of living. You should net a profit resale from this situation if you stay in the house bought during election year for three to five years. There are drastic ups and downs on wall street following an election, but home prices, interest rates, and market conditions are not directly connected.  

Home Buyers Concern No. 6 – Should You Rather Rent?

Of course, renting means you’re not trapped in one place for ever, you are with homeownership. However, we believe that renting money disappears without you building any equity over time.  By an estimate, you might need to pay $100 more a month and you’ll be able to own your home and receive tax deductions. The shackles of ownership are not as they might seem. You are able to always sell your home later on. By buying, and then selling your home later, you are building up equity you can later use and pull back out of the home. Imagine equity as a savings account held in real estate. 

We understand that buying a house can be stressful. It’s normal to be little scared. The condition is known as “house-poor” is not unusual. By working with a resonsible lender, they will be able to tell you what you should be spending rather than what you might be able to afford. Just a walk to Spring Hill Reality for the right guidance. Get in touch –We’re just a call away to your fears! 

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Rather Make a Phone Call?
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and we will be happy to meet your needs.

Spring Hill Realty

5337 Main Street, Spring Hill TN 37174