Thursday, July 5, 2012

Homes in the Villages, Fla

Homes in the Villages, Fla


A home is a financial asset and more: it's a place to live and raise children; it's a plan for the future; it's an investment in your community. That's why all Americans should have an opportunity to enjoy the benefits of owning a home in the villages. And here are some tips for first-time home buyers.
Knowledge is said to open doors. This is literally true when it comes to buying a home. To become a first-time home buyer, you need to know where and how to begin the home buying process. The following questions and answers have been carefully selected to give you a foundation of basic knowledge of home purchasing. In addition to helping you begin, these steps will give you the tools necessary to navigate the entire home buying process - from deciding whether you're ready to buy house, all the way to that final proud step of owning a home in the villages, getting the keys to your new home.

1. HOW DO I KNOW IF I'M READY TO BUY A HOME?

You can find out by asking yourself some questions:
Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?
Do I have a good record of paying my bills?
Do I have few outstanding long-term debts, like car payments?
Do I have money saved for a down payment?
Do I have the ability to pay a mortgage every month, plus additional costs?
If you can answer "yes" to these questions, you are probably ready to buy your own home.

2. HOW DO I BEGIN THE PROCESS OF BUYING A HOME IN THE VILLAGES?
Start by thinking about your situation. Are you ready to buy a home? How much can you afford in a monthly mortgage payment? How much space do you need? What areas of town do you like? After you answer these questions, make a "To Do" list and start doing casual research about property. Talk to friends and family, drive through neighborhoods, and look in the "Homes" section of the newspaper, Foreclosure Listings, and internet search.

3. HOW DOES PURCHASING A HOME IN THE VILLAGES COMPARE WITH RENTING?
The two don't really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.
Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.



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