Buy a condominium or get a starter home?Written by Syd Johnson
Often considered an alternative to home ownerships, a condominium is a form of property where you own one unit in a development plus a share of all common areas. You can find condominiums in cities as well as suburban areas. Condominiums are often considered a first home alternative for young families and upwardly mobile young adults. Condominiums usually don’t appreciate at same rate or levels as detached single family homes. If you want to make a profit on your investment, carefully scrutinize condo market in your area, quality of condo governing board and overall activity in your local real estate market. Don’t assume that you will make a generous profit off your condo because single family homes sales are on increase. The governing board can often make a difference between a professional and a horrible condo experience. If you need to a strong degree of control over outside environment such as pool areas, parking, color of building etc., then a condominium might not be a good fit for you, or your family.
| | Mortgage brokers can help you save time and moneWritten by Syd Johnson
A good mortgage broker can help you search through hundreds of mortgage products, and lenders to find perfect fit for your financial situation. The average buyer does not have years of experience in evaluating financial products and services.The average mortgage broker spends their entire day doing these types of evaluations and can point you in right direction, for a small fee. Buying a home is a relatively short, one time activity that can be completed in as little as thirty days, and as much as a one year time period. Regardless of your schedule, it is highly unlikely that you will have enough information to make best decision on your own. A mortgage broker can take away some of your anxiety and handle most critical part of buying your home. A mortgage broker is a trained professional with access to many different lenders and loan products. They can handle first round of negotiations with national and local lenders to see what kind of interest rate you can get on open market. It is much easier for a broker to get an accurate picture of your options when dealing with forty or fifty lending sources. If you do this work on your own, you might not have energy to go beyond two or three sources. It is possible that you are getting best deal, but it’s hard to be sure when there’s no third party working on your behalf.
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