Buying Your First Home: The Time is Right
If you are currently renting but considering shopping around for your first
home, the time is right. The past year in real estate has led to many homes
lingering on the market and a stabilization of home prices. To top it all off,
interest rates on mortgages are still at all time lows. With this wonderful
selection of more affordable homes to choose from, it's not only a buyer's
market, but a first time homebuyer's dream market too.
When thinking of purchasing a first home, there are many things to take into
consideration. To keep your costs down, you may consider looking at
fixer-uppers. Are you reasonably handy? Can you make some attractive but low
cost improvements on a home that needs a little work? Maybe it's as simple as
patching a few walls, and some fresh paint and carpet. Maybe it's a new
countertop to spruce up that tired looking kitchen. Kitchen improvements don't
have to cost thousands, so much can be done on a shoestring. There are some
great low cost Formica countertops at the home centers that will give your
kitchen a whole new look on a small budget. And, old cabinets can come to life
with a fresh coat of white paint.
Another option for first time homebuyers to consider is looking at condos and
townhomes. This is an excellent way to enter the market. For about the same
cost as doling out rent each month, you will have pride of ownership and tax
benefits, while building equity at the same time. After a year or two, you may
feel you need more space or another bedroom for baby. By this time, your condo
or townhouse will most likely have appreciated in cost, making it easy to trade
up to a larger home. This is a smart transition and a way to step up slowly.
The market this past year has certainly provided lots of inventory. This means
lots of great homes to choose from. With interest rates still so low, the time
to consider buying is now. These conditions may not last much longer and we may
not see this kind of market again for a long time. Today, first time buyers are
looking at some excellent and exciting opportunities in the real estate market.
Search Port Orange Real Estate
for new homes in great family neighborhoods.
Back to the Trinity Florida Real Estate page