Holiday discounts don’t just apply to toys and clothes, Columbia SC real estate may have a great deal for you too.
Why You Might Find a Great Deal Now on Columbia SC Real Estate
Most people aren’t looking to move during the holidays, but it’s not out of the ordinary for the average home that’s on the market during this time of the year to see its price slashed somewhere between $2,000 to $10,000. Try finding price cuts like that on black Friday!
Homebuyer traffic is very low in the winter, so usually only the most serious sellers have their homes for sale during the holidays.
Buying Columbia SC real estate in the off-season can have many benefits for buyers.
To entice buyers further, sellers will throw in extra “gifts” in the light of the holiday season, such as washers, dryers, refrigerators, even sometimes flat screen TV’s at no extra cost.
The competition among buyers is also low during this time, making the bidding process easier. Mortgage lenders also have a lighter load, so they are more likely to concentrate on you more or process your deals quicker.
So if you’re thinking of buying Columbia SC real estate, but your natural tendency is to “wait until after the holidays”, it might pay you big dividends to see what kind of deal you can make on that new home now, while it’s “on sale for the holidays.”
Like all the holiday ads always say, “Time is running out, so buy now for the best deals.” Columbia SC real estate may never be this low again.
When looking at Columbia SC homes for sale, there are several key things which should never be overlooked. This is a major investment and your search should be thorough so you don’t experience buyer’s remorse and won’t be wishing you had bought something different two months after moving in.
Must Things to Look For When Shopping Columbia SC Homes For Sale
Location
Without question, location is the most important aspect to consider when looking for Columbia SC homes for sale. Imperfections in the house itself can be fixed. Dream components, you can live without or add later. You can’t, however, pick up the house and move it to a new location. If you accidentally buy in a bad neighborhood, you’re going to be perusing the new Columbia SC homes for sale listings once again before the year is out. This time, however, you’ll have another worry: selling a house in a bad area. Make sure you love where your house is located before you even consider buying it.
Curb Appeal
When owners and real estate agents attempt to put a house on the market, a lot of emphasis is placed on curb appeal. But this isn’t just for sellers. As a prospective buyer, you should consider it as well and on more than just an instinctive, impulse level. Look at the new Columbia SC homes for sale and consider which ones best reflect your lifestyle. If you don’t have the money to afford a landscaping crew and don’t care for yardwork yourself, why is that huge backyard with garden and pond so appealing? Consider the materials used to build the house. Wood, brick, and other materials all have their advantages and drawbacks. Know them before you make your decision.
Size
If you just won the lottery or happen to have the kind of income that allows you to choose whichever new Columbia SC homes for sale you care to buy, congratulations on your fortune! For most people, however, buying a house means making some tradeoffs. You may want that mansion by the lake, but do you really need 6 bedrooms for a family of three? On the other hand, you don’t want to buy a tiny house for a large family. Think carefully about size and don’t make a decision based on emotion. Remember, this is a huge investment, so make sure you follow these three guidelines when looking at any Columbia SC homes for sale.
We have other home buying tips right here at our site. Just click on the Columbia SC Home Buying Tips link under Columbia SC Real Estate Categories to your right.
Although selling a Columbia SC house for less than the amount owed on the mortgage (aka a Columbia SC short sale) has become more and more commonplace these days, such sales are packed with complications that can cause the deal to unravel.
Things to Watch for With a Columbia SC Short Sale
Often times, the house is not advertised as a Columbia SC short sale because the seller doesn’t have the authority to do so. It’s all up to the lender.
Many lenders will not even discuss a Columbia SC short sale with a seller until a purchase contract is in place. That simply means the buyer who makes the first offer is really more of a guinea pig, because nobody knows whether the lender will even accept a short-sale offer.
A Columbia SC short sale is sometimes listed at a “ridiculously low price” just to get the ball rolling. Sellers may agree to any offer just so they can begin negotiations with the lender. Since the seller in a Columbia SC short sale won’t be taking any money from the sale, they may be eager enough to get out from under the mortgage they will accept just about any offer. But the lender holding the mortgage has the final say as to whether that low-ball offer will be accepted or not.
A Columbia SC short sale can be a long, drawn out process, especially if the seller doesn’t have his paperwork in order. Again, it’s imperative to remember, the lender can change the rules at any time during the process, forcing everyone to start all over again.
Many times, lenders will approve a short sale offer, but they set the date you must close so close to the date they approve the sale, the buyer doesn’t have time to get all of their ducks in a row, like getting a home inspection, finalizing their financing, etc., making the whole Columbia SC short sale process a trying time on everyone’s patience.
Talk with us before you entertain the idea of making any offers on a Columbia SC short sale. We may be able to save you a lot of time and frustration in the process by helping you be more aware of circumstances surrounding the property that is for sale.
Buying a Columbia SC home instead of renting pays off, on average, in about three years. That’s a national average, but seems to hold true in most markets across the nation. This, according to a new analysis from real estate website Zillow.com.
The analysis that Zillow calls the “break even horizon” compares what it costs to buy or rent the same home in a number of U.S. markets over time. Of course, the rent versus buy calculations will vary depending on where you live.
Break Even Point for Buying a Columbia SC Home
In some markets, the break even point is 4 to 5 years, but in other areas, buying a home wins out in less than 2 years. There are wild markets where residents must wait up to 14 years for buying to make more sense than renting.
The analysis takes into account a host of factors potential buyers should think about when considering the leap, including the down payment, mortgage and rental payments, buying and selling costs, property taxes, utilities, maintenance costs and tax deductions. The analysis adjusts for inflation and forecasts home value and rental price appreciation.
The new study on the old “rent-versus-buy” debate comes at a touchy time for the housing market. Many analysts believe a housing bottom has already been reached but don’t expect a return to the days of the real estate bubble. There is already some concern about the strength of the recovery, with home sales slowing in June as inventory remained tight and buyers paid higher prices.
However, rents are also rising, and housing affordability is at or near record levels, and mortgage rates remain very low, for those who can qualify. The combination of these factors are prompting many renters to consider buying a Columbia SC home instead of continuing to subsidize their landlord’s retirement.
When trying to decide if buying a Columbia SC home instead of renting is best for you, decide how mobile you’ll be, your financial situation, marital status, career goals, and your personality. In other words, are you more likely to never want to do maintenance or yard work? If so, renting may be your best option.
If you’re trying to decide whether buying a Columbia SC home would be your best move, talk to us. We can help you decide which option best suits your lifestyle and your pocketbook.