While everyone talks about home ownership, and while there is no question that owning is better than not owning (explained below), there are some exceptions.
Some advantages of owning a home:
1) The pride of ownership - this is huge & irreplaceable
2) Tax benefits - Uncle Sam gives us most of us money back by allowing us to write off interest and property taxes
3) Appreciation in values - think of this benefit as a long term equity builder
4) The ability to live your lifestyle - home with a garden, townhouse with no outside worries
5) An advantage, atleast at this point - $8,000 credit if you qualify (many first time buyers do)
6) A large selection available due to increased inventories
7) Leveraging your money smartly is a great benefit
Some disadvantages:
1) Doesn't allow flexibility. Not easy to just pack up and move
2) The trouble of ongoing maintenance - takes away worry free lifestyle
So should you buy or not? Depends upon your situation. Apart from the advantages and disadvantages mentioned, here are few other questions you must ask:
1) Can I afford the monthly payments?
2) Do I have extra money for emergency repairs?
3) Is there an anticipated move within next 2 to 3 years?
4) Is there an expected change in my job?
5) Am I doing this to impress others or for my own needs?
Some suggestions:
1) Don't buy larger than you need or expensive than you can afford.
2) Know that buying for long term is the best thing you can do for your future savings!
3) Why waste on rent when you can own and build equity long term?
4) If possible, pay extra principal every month to payoff your loan sooner.
5) Don't use all of your equity for wrong purposes.
Good luck with the purchase of your home.
Sanjeev Aneja, CRS, Broker/Owner
On Track Realty, Edison, NJ
732.494.2211
www.ontrackrealty.com
Wednesday, May 20, 2009
Wednesday, April 22, 2009
Showing your home at it's very best!
Want to sell your home fast for the best possible price? While here are many things to remember, here are few very important ones.
1) Price it right. Pricing it wrong and leaving too much room for negotiations will hurt you as the right buyers won't come thru the home.
2) Improve your curb appeal. If it doesn't attract from outside, many buyers won't go in. Would you go into a restaurant that appears very dirty but promises excellent food once you go in?
3) Keep it bright. Most people don't like dark homes. Let the natural light come in.
If you are working with a Realtor (not all agents are Realtors), follow the advise of your Realtor. You hired this person because you trust their opinion and expertise.
One other suggestion if working with a Realtor. Do NOT hire anyone who does not give you an UNCONDITIONAL PERFORMANCE GUARANTEE. Simply put, if you are not happy with their services, you should be able to fire them.
Good luck with the sale of your home.
Sanjeev Aneja, CRS
Broker/Owner
On Track Realty, Edison
732.494.2211
www.ontrackrealty.com
1) Price it right. Pricing it wrong and leaving too much room for negotiations will hurt you as the right buyers won't come thru the home.
2) Improve your curb appeal. If it doesn't attract from outside, many buyers won't go in. Would you go into a restaurant that appears very dirty but promises excellent food once you go in?
3) Keep it bright. Most people don't like dark homes. Let the natural light come in.
If you are working with a Realtor (not all agents are Realtors), follow the advise of your Realtor. You hired this person because you trust their opinion and expertise.
One other suggestion if working with a Realtor. Do NOT hire anyone who does not give you an UNCONDITIONAL PERFORMANCE GUARANTEE. Simply put, if you are not happy with their services, you should be able to fire them.
Good luck with the sale of your home.
Sanjeev Aneja, CRS
Broker/Owner
On Track Realty, Edison
732.494.2211
www.ontrackrealty.com
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