Should you skip the starter house?

Should you skip the starter house?

Gone are the days when a three-bedroom, two-bath starter home was the norm for first-time homebuyers. Today, many buyers are skipping that stage altogether and going straight for their dream homes. They’re buying bigger, more expensive properties with upgraded features, and they plan to live there for the long haul.

Not sure which type of property you should look for? Here are a few things to consider:

Why are you buying?
Are you mainly looking for a way to lower your monthly living expenses, or do you want a place to raise your kids and put down roots? Do you want this to be your only purchase, or are you willing to go through the process again in a few years?

What’s your budget?
Can you buy your dream home with what you can currently afford, or would that stretch your budget too far? It’s crucial to consider how much you’ll need to save for a down payment and how large of a loan you can qualify for. Your credit score and the expected interest rate will also play a factor.

How long do you plan to stay? 
Do you plan to be in the area for a long time or is there a chance you’ll need to move for your career, family or another reason down the line?

Is the market favorable?
What is the current housing inventory, and will you be competing with other buyers? Favorable market conditions mean you’ll get more house for your money, making it an ideal time to purchase a forever home.

Get in touch today if you’re ready to buy a new home. If you’re unsure about a starter home or forever home for your family, we can discuss what options are available to meet your needs and long-term goals.

Things I learned about sales from watching my boys in sports:

1)      When you give it all you have and it still isn’t enough, it’s ok to shed a tear.

2)      Just because they had more points, doesn’t mean they are better. 

3)      I would rather lose with my ‘brothers’, then win alone.

4)      Hard work feels good.

5)      Never let fear stop you.

6)      And when the sun comes up in the morning, shake it off, go to IHOP, hit the gym and Thank the Lord we get to do it all over again.

Are you ready for some football????? IT’S GAME TIME!

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🏈🏈🏈 IT’S GAME TIME 🏈🏈🏈 Our yearly football contest has arrived! Have you entered to win your favorite NFL Jersey??? Watch video and see comments for details. #AFC #NFC #JoeArizona #GoCards

Posted by Joe Arizona Homes REMAX Professionals on Wednesday, August 15, 2018

Do you think you know who the Super Bowl teams are this year? Got a guess? Let’s hear it!

🥇 Email: info@joearizona.com with the AFC and NFC team you think will be in the Super Bowl.

🥇 If you are correct you will win a prize

🥇 One correct entry will be drawn to win the Grand Prize, an Official NFL Jersey of your choosing.

🥇 1 entry per email address.

🥇 Deadline 5pm, September 8th, 2018

 

 

Tiny Homes: What Are the Pros & Cons?

Tiny Homes: What Are the Pros & Cons?

The tiny house trend is a big movement. Everyone from millennials to retirees is opting to live small, but that doesn’t mean the lifestyle is right for you. Consider these pros and cons before you downsize.

What constitutes a tiny house?

Generally, tiny homes measure between 100 and 500 square feet. Many are portable, but some city ordinances and housing divisions require homes to be set on a foundation.

What are the pros?

People are drawn to tiny houses for a number of reasons. Owners of tiny homes often cite price as the deciding factor. Tiny homes range from $10,000 to $60,000, depending on the manufacturer. Even a top-of-the-line custom unit typically costs less than $100,000.

Other perks include the freedom of mobility and the ability to live more sustainably. There’s also the added flexibility to use the structure as a rental unit, add-on expansion or mother-in-law suite.

What are the cons?

Of course, not everyone is willing to contend with the realities of owning a tiny home. For instance, despite their low sales price, there are hidden costs that can sneak up on potential buyers. From construction crew markups and shipping fees to property taxes and plot purchases, the final figure can add up quickly.

What’s more, unless you have enough liquid funds to make a cash purchase, financing for tiny homes can be difficult, and there are also obvious drawbacks such as space restrictions that complicate hosting guests and storing nonessentials.

No doubt our collective desire for simplification and financial freedom has birthed the tiny home movement. However, before you commit to one, it’s important to educate yourself about the complicated regulations and overlooked nuances of owning a tiny home.

Joe Bourland

Joe Bourland | RE/MAX Professionals
Team Leader JoeArizona.com
joe@joearizona.com
10320 W. McDowell Road
Suite B2005
Avondale, AZ 85392
Phone: 623-322-8588

RE/MAX Professionals