Columbia SC Home Buying Tips
Condominiums and townhouses are going up in higher numbers these days. Living in a condo or a townhouse is a great choice for people who are attracted to the idea of owning a property at a fairly inexpensive price and yet is well-situated in the city. Of course, one of the greatest things about condo living is maximizing its amenities. Another advantage is that owners only maintain their own units because the entrance and hallway maintenance is assigned to a housekeeping staff or maintenance crew.
Many units are furnished for hassle-free move-ins. Most city dwellers do not have the time to monitor construction and renovation of their units, that’s why condos and townhouses offer a great alternative to a single-family home. Condominiums and townhouses even allow owners the convenience of moving in to pre-finished units that suit their tastes and budget. In addition, in most cases, they are easier to clean and maintain.
A well-developed condominium and townhouse also means enjoying a long list of integrated services: higher level of security, incomparable facilities management, concierge or housekeeping services and sometimes faster turnover on sales or rentals. Indeed, condo or townhouse living is an amazing option for those who want to try a new and fresher perspective in modern lifestyle.
Though you don’t own the actual building, you are in full ownership of the living space, and you have the tax benefits and positive credit information regarding long term benefit of ownership. It’s also a good starter property for young working professionals and couples who need to build experience in owning and maintaining property.
Townhouses offer a little green space, generally in the form of a small backyard area and landscaped walkup drive that leads to the front door. Some townhomes are designed to include a backyard porch or a terrace upstairs to enhance the feeling of open space. Furthermore, because your townhome’s front and back yard are small, you won’t be having much yard work to do. When you’re planning to add a deck or a patio onto the back of your townhome, you’ll have even less yard to take care of.
Condos and townhomes may be good options when looking for a place to live these days. Talk to us about the options available in our market for condos and townhomes.
Tags: buying a home, condos, owning a home, townhomes, townhouses
There is no better time than right now to think about buying real estate since we are currently living in a buyer`s market. If you want to find a home in your price range while saving time, a considerable amount of money and the hassles involved, then it is best to use the assistance of a real estate agent. If you need help in the process of buying a home there are many reasons why you should hire a real estate agent.
Determining your budget, requirements and needs on your own might prove to be a difficult task. It is much easier to consult a real estate agent who can easily help you figure out the house you might be looking for and understand how much you will be able to spend on it. When searching for a house you need to consider things such as the number of bedrooms, bathrooms, central heat and air, pool, second floor and a lot of other considerations.
The market and the prospective areas have both been appropriately studied by a good real estate agent.
For first time buyers using the help of a real estate agent, it becomes easier to find comfortable and manageable homes with good school districts nearby or away from busy streets if you have a family. They are fully trained and skilled at finding homes which would not only fit your personality and needs but also homes that can be bought at great prices.
If you really want the best deal, hiring your own real estate agent can definitely help you get it. Right up until the moment when you are comfortably enjoying your new house you will find them by your side. Not only will they walk through many homes with you, but will also be capable of inspecting and pointing out any problems in a house.
When buying real estate with the help of a real estate agent you will also receive lists of potential properties to go through which meet your requirements and even line up home tours as well.
All you need to do is decide what your personal requirements are and then rely on them to handle the rest of the home shopping. They will also make sure everything is worked out around your schedule.
Apart from helping in buying real estate, these agents can assist in a variety of other areas as well, such as helping you find home financing. Purchasing a new home is an exciting experience which can be further enhanced by hiring a good real estate agent.
Just before you set out on the adventure of buying real estate, it’s important to understand your legal rights as a home buyer so you aren’t seduced by the misguided beliefs that surround the true guidelines of the business.
It’s up to you to learn about the different aspects of buying real estate. Things like the purchase contract, mortgage rates and above all what’s possible to anticipate so far as the soundness of the home you’re considering, as well as any monetary dealings associated with it.
It’s your responsibility to complete your preparation and realize your complete protection under the law. Don’t leave these things up to your real estate agent or attorney.
Thanks to anti-discriminatory laws and regulations such as the Fair Housing Act, no property owner may refuse to accept an offer coming from any buyer, although the belief is that this is any sellers’ legal right. Any such behavior is often legally interpreted as discrimination. Don’t let any person inform you they’ll not allow your offer to be presented.
It does not mean, of course, that your offer will be accepted, or even that the seller will make a counter-offer.
In locations where multiple offers on the same real estate for sale are not that unusual, it should be comforting for you to know that at least your offer will be presented to the seller.
When buying your first house, first contact a local real estate agent to assist you. Buy your first house with confidence and savvy using the real estate tips in this video…
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Owning versus renting is both a financial decision and an individual one. Arguably, renting provides more flexibility and freedom, the freedom to move when one wishes (depending upon lease terms of course) and where one wishes. As a renter, one has little or no real responsibility for repairs, maintenance, and other costly and time-consuming aspects that home ownership can bring. Ownership offers it’s own advantages, including tax benefits and growth of equity.
A renter has little control over the property. While home ownership has its costs, it has its advantages as well. Owning a home provides the opportunity to gain equity in the property, which historically has contributed the largest portion of a families net worth. Consider that as a renter, one is essentially paying the landlord’s mortgage without the benefit of increased equity. Costs of ownership are potentially countered by tax benefits, depending on an individuals financial situation. While home ownership typically requires a large initial investment, significant responsibilities, and ongoing maintenance costs, for some people it can provide a feeling of stability and can help to strengthen one’s credit profile.
In a rational market, mortgage interest plus property taxes plus maintenance costs will roughly equal rent. However, with the impact to housing markets over the past few years, many experts cite that housing has dropped so much that the debate of owning versus renting is currently leaning toward home ownership. When housing prices are suppressed and interest rates low, it bears mentioning that while rents can typically increase year after year, the mortgage costs of a fixed-rate mortgage will remain unchanged over the term of the loan. The financial considerations are simply an analysis of the related cost of owning versus renting. One of the considerations that needs to be factored into the decision is the value of alternate investments that a renter may be able to put any excess funds into. If money spent on maintenance and paying down equity is invested wisely, can an alternative equity be created, and if so is it greater than the equity gained via the real estate market and home ownership?
To determine a preferred scenario, one should evaluate the local rental market to establish current rental rates, and also compile the estimates to consider the complete cost of ownership. Far too often, people neglect to include all the cost associated with a house and just focus on the mortgage. Remember that ownership costs can be any expenditure associated with possession and maintenance of the property.
Once the data is in hand, it is more likely that an informed decision can take place. Remember the financial and emotional magnitude of the decision to rent or own is a highly personal one. It is important to analyze the costs and financial benefits of both renting and owning to determine which is best for one’s own situation. The emotional benefits of either, be it the flexibility of renting or the stability of owning also need to be weighed, and in fact, may be the more critical factor for many.
If you have questions about how to best determine whether owning or renting is best for your individual situation, contact us. We’ll be happy to sit down with you and go over the pros and cons of both to see which scenario would work best for you.
Tags: buying a home, owning a home, renting a home