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Buying a Home

This category will have various tips to help you in buying a new property.

Found 50 blog entries about Buying a Home.

Recently, we sat down with Jen Dollar, owner & broker of Realty Executives Florida. We asked her a handful of FAQs that we receive almost on a daily basis from people looking to buy homes in the Orlando area. 

What are some of the BEST neighborhoods to live in in the Orlando area?

This is a tough one. For me, in the downtown area would be College Park and Delaney Park. Then, if you go north of Orlando into Seminole County, Heathrow, Steeple Chase, Lake Markham Preserve or the gated neighborhoods down Markham Woods Road. Then in the southwest part of town, Dr. Phillips is a popular area and also, Windermere, and now Winter Garden is becoming very popular with the new home developments.

If I was a younger family moving to Orlando area for the

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As Millennials grow up, more and more are look for homes for sale . This has driven growth in the market. Even before this development millennial made up about one third of home sales. This was reported in MyCentralJersey.com. This was announced at the November 2016 Realtors Conference & Expo. The realtors say they expect this trend through 2017.

The National Association of Realtors (NAD) released a press release about the changing landscape of the American housing market. According to that report:

Paul Taylor, executive vice president of the Pew Research Center and author of "The Next America: Boomers, Millennials, and the Looming Generational Showdown." "America in the near future will look nothing like the America of the past, Generational

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Many long-time renters put off looking at homes for sale simply because they don't think they're ready. What many people don't realize, however, is that owning real estate can be more affordable, rewarding, and manageable in the long run than renting. Here are five key signs that it might be time to say goodbye to renting and call up your local Realtors and start house hunting.

A mortgage is more affordable than your rent.

Start by taking a look at your finances. The amount you pay in monthly rent and utilities might be more than what you'd pay on a mortgage. Not only would a house give you a space to truly call your own, but you'll be building your assets for the future with every payment.

The market is in your favor.

Timing is everything

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For those people who are tired of renting a home and just want to buy, but don't have a down payment, the options often seem limited. Saving that big 20 percent or more seems impossible initially. There's little doubt that having a down payment is a good thing and it can help you to achieve a lower interest rate. However, it is not always necessary. Consider these helpful tips about down payments.

A good place to start is with the conventional loan. Each lender sets his or her terms for these loans, giving you some leeway. That is, some lenders require no more than 10 percent. Nevertheless, you may be able to piggyback two loans, one for the 10 percent and another for the remaining balance on the home. Before you make this decision, be sure to talk to

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You may be ready to buy a home. You know that you need a low interest rate on the home loan. You know you need a down payment. You even know what to expect when it comes to the monthly payment. But have you taken the time to consider what amortization is? Mortgage loan amortization is simply a term that discusses how much of the loan you are going to pay in principal (the amount you actually borrowed) compared to interest ( the fee for doing that borrowing.) It is important to understand what this means before you buy a home.

Your Monthly Payment

When you work with your mortgage lender, he or she will likely talk to you closely about your monthly payment. He or she will break down the amount you'll pay each month. However, you'll also want to see how

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homes for saleMany long-time renters put off looking at homes for sale simply because they don't think they're ready. What many people don't realize, however, is that owning real estate can be more affordable, rewarding, and manageable in the long run than renting. Here are five key signs that it might be time to say goodbye to renting and call up your local Realtors and start house hunting.

  1. A mortgage is more affordable than your rent.

    Start by taking a look at your finances. The amount you pay in monthly rent and utilities might be more than what you'd pay on a mortgage. Not only would a house give you a space to truly call your own, but you'll be building your assets for the future with every payment.

  2. The market is in your favor.

    Timing is

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As you consider purchasing a home, there are many elements to think about. You'll need to negotiate the contract, obtain the right loan, and handle the closing process. You are thinking about money the whole time. The problem though is that you may not have factored in taxes. Real estate taxes are a part of both the home buying process and, in some areas, down the road as well. It is ultimately up to you to ensure you pay your taxes promptly and that you plan for them now, before you buy that home. What should you know about taxes?

Paying Your Taxes

In real estate, many people pay real estate taxes. That is, these are annual or every six month payments to the county government. The funds from these taxes are often used to fund schools, county road

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When it comes to buying a home, one of the most important steps you can take is to reduce your debt. Debt from credit cards, student loans, and other debts can lead to significant concerns for lenders who you may be applying for a loan through. In short, lenders want to know that you can make all of the required debt repayments for your mortgage. If you have a great deal of debt already, you may struggle to make your monthly payments, putting the lender in a worrisome position. However, paying off all of your debt may not be a good thing.

Pay Down Debt

It is a good idea for most consumers to work to pay down their debts. That is, you should be avoiding adding to any debt that you have. By paying down this debt balance, you will be creating more gaps

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It is an alluring thought. Purchasing a home for next to nothing, especially compared to other home prices for the same size and type of home, and work on fixing it up. Not only are you going to get a lower purchase price, but you can make the home look the way you want it to. It sounds like a great plan but for the first-time home buyer, fixer uppers can be worrisome. It is always best to work closely with your real estate agent and other trusted experts before you make this decision. Consider some of the factors that may be risks to consider.

The Risk of the Unknown

The biggest reason many experts stay away from the fixer upper even when they are seasoned investors is that there is the risk of the unknown. A home that is in bad shape, such as

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Is now the time to purchase a home? Buying a home is a big decision in every situation, no matter the time or the area. The key thing to remember is that buying a home now is a personal decision, one you have to make based on whether your individual circumstances are in the right place right now, including your budget and financials. Yet, when you look at the mortgage industry as a whole, you may notice some instances in which there are big reasons to make now the time you buy a home.

#1: Interest Rates Are Low

Compared to just a few years ago, interest rates are low right now. When buying a home, this is one of those factors you simply do not want to pass up on. Lower interest rates mean you'll pay less to buy a home, even by thousands of dollars.

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Listing data comes from My Florida Regional MLS.

Listing information last updated on September 19th, 2018 at 6:44pm EDT.