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Home Buyer Tips | Rick Kendrick Team Blog

Tuesday, August 22, 2023   /   by Lisa Taylor

Unmasking Fixer Upper Myths

Unmasking Fixer Upper Myths:
From Dreamy Renovations to Reality Checks
 
Before embarking on the exciting world of fixer-uppers, it's wise to do a bit of homework to uncover the pros and cons of purchasing such properties. We’ve all watched HGTV and seen how easy it is, but reality can be somewhat different!!
Let’s take a look at the Myths and Facts and then you can decide if it’s the journey you want to take.
 

The Fixer-Upper Profit Bonanza
The allure of striking it rich in the real estate market by snatching up a run-down property at a steal, revamping it, and swiftly selling it for a handsome sum can be hard to turn away from. But is it really that simple?
FACT
Selling a "fixer upper" involves strategic pricing. The asking price should mirror the costs needed to restore the property to its original state. This price aims to balance the home's value and renovation expenses by factoring the difference between its market price and projected renov. ...

  home buyer tips

Wednesday, August 2, 2023   /   by Lisa Taylor

Buying a Home: Making a Confident Commitment

Buying a Home: Making a Confident Commitment
Buying a home is an exciting journey, much like finding the perfect partner in life. You feel butterflies in your stomach as you make the offer and pure joy when it's accepted. However, as you approach the big day of closing, it's common to experience some uncertainty and anxiety about this significant commitment. But don't worry, you're not alone, and we're here to help ease your concerns and guide you through this process with confidence.


Monthly Payments: Can You Afford Them?
One common worry is whether you can afford the monthly payments. This concern is entirely understandable, especially if you're buying at the top of your budget. To ease your mind, sit down with your loan officer or a financial adviser and go over the numbers. Calculate the total cost of homeownership, including mortgage payments, taxes, utilities, insurance, and any association dues. Your housing costs should ideally be no more than 28% of your gross income, b ...

  home buyer tips

Wednesday, July 26, 2023   /   by Lisa Taylor

The Wealth-Building Power of Homeownership

The Wealth-Building Power of Homeownership
You might have heard some people suggesting that renting is a better option than buying a home in today's market. While that may be a valid perspective, it's essential to understand that becoming a homeowner still offers numerous benefits, especially when considering long-term investments that can help your net worth grow over time. In this blog, we'll explore the wealth-building potential of homeownership, regardless of your income level.
 
Homeownership: A Path to Greater Wealth
Surprisingly, homeowners from various income levels tend to have significantly higher net worth compared to renters earning the same income. Data provided by First American clearly demonstrates this trend:


How Does Homeownership Generate Greater Wealth?
Owning a home allows you to build home equity, which is a key factor in accumulating wealth. Instead of paying rent every month without any returns, homeowners benefit from the steady growth of home equ ...

  home buyer tips

Tuesday, July 18, 2023   /   by Lisa Taylor

Seize the Moment: Why Waiting for Lower Interest Rates Could Cost You Your Dream Home

Seize the Moment
Why Waiting for Lower Interest Rates Could Cost You Your Dream Home

As a real estate agent specializing in Palm Beach County, Florida, I've encountered many homebuyers who are tempted to wait for interest rates to drop before making their move. However, I'm here to shed light on the potential downsides of this approach. In this article, I'll explain why waiting for lower interest rates isn't always the best strategy when buying a house. Instead, I'll reveal the advantages of taking action now in this dynamic and fast-paced real estate market.

Missed Opportunities: The Risk of Losing Your Dream Home 
In the bustling Palm Beach County market, homes are flying off the shelves. Waiting for interest rates to dip might result in losing out on your dream property to another eager buyer. Act decisively to secure the home you desire before it slips through your fingers.

Priced Out: Rising Home Prices and Affordability 
Palm Beach County's housing prices ar; ...

  home buyer tips

Wednesday, July 5, 2023   /   by Lisa Taylor

5 Easy Steps to Buying Your Dream Home

5 Easy Steps to Buying Your Dream Home

Are you ready to embark on the exciting journey of buying your dream home? Don't worry! With these five easy steps, you'll be well on your way to finding and securing the perfect home that fits your budget and lifestyle. Get ready to make your dream a reality!

 

Step 1: Set Your Budget

To start, establish a realistic budget. Assess your finances, considering your down payment, monthly mortgage payments, and additional costs. Setting a budget will help narrow down your options and ensure you stay within your financial reach. Don't forget to factor in property taxes and insurance!
 
Step 2: Get Pre-Approved for a Mortgage

Next, get pre-approved for a mortgage. Reach out to lenders and provide the necessary financial information. This step helps you understand your borrowing capacity and makes you an attractive buyer to sellers. Having a pre-approval shows you're serious and financially prepared.

Step 3: Find a Suitable ; ...

  home buyer tips

Your Home Sold Guaranteed Realty of Florida
Rick Kendrick & Karey Kendrick
712 US Highway One #301-16
North Palm Beach, FL 33408
561-702-4782

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