Buyers & Sellers
Buyers & Sellers Resources
Home Buyer's Resources
Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities. Taking the time to understand the home buying steps and your assessing your needs is important to make the best decision for you and your family. Having the right real estate agent who knows the Greater Atlanta markets can make this experience less stressful.
Home buying seminars and workshops are available to you free of charge. Browse the "Events" page to see when we will be hosting a workshop in your area.
Benefits of Home Ownership
Homeownership has many advantages - both financial and personal. But buying a home is an important decision. Look at the benefits and the differences between homeownership and renting to better understand if owning a home is right for you.
What are the benefits of homeownership?
- Tax savings. You may earn significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax and many states' income tax if you itemize your deductions.
- A more stable monthly housing expense. Your monthly housing loan or mortgage expense can remain the same for the life of your mortgage, depending on the type of loan you choose.
- Equity. You may build equity in your home over the life of your loan, which allows you to plan for future goals like your child's education or your retirement.
Homeownership is not right for everyone. It may not be the right time in your life or you may not like the commitment associated with owning a home. Here are some differences between renting and homeownership:
- Renters are typically free from maintenance obligations such as repairs or lawn care.
- Homeowners often have more freedom in decorating, landscaping, etc.
- Renters can move more easily and more quickly than homeowners and there are higher costs associated with buying and selling a home.
- Homeowners have a financial investment and may build equity in their home.
A mortgage lender, a housing counselor, or consumer credit counselor can help you better understand these guidelines. Before you talk to a financial professional, you can organize your financial picture by creating a budget. Don't forget that you also have to save for the down payment, closing costs, inspections costs, moving, and other related expenses.
What Are the Risks?
Check For Properly Working Appliances/Fixtures:
- Vent fan
- Heating fan
- Ice maker
- Garbage disposal
- Range hood
- Trash compactor
- Kitchen cabinet doors
- Lights (interior & exterior)
- Heating system
- Ceiling fans
- Hot water system
- Air conditioning system
- Electrical outlets
- Door bells
- Water purifier
- Fireplace damper
- Garage door
Ensure House Is Well-Built & Systems Are In Working Condition:
- Brick bulging or cracking
- Shingles missing or broken
- Siding rotted or missing
- Gutters damaged or need to be cleaned
- Concrete cracked in sidewalks/driveway
- Water seepage in basement
- Cracks in foundation
- Poor ventilation
- Sub-flooring damaged or loose
- Cracked walls or ceiling
- Cracked tiles
- Loose plaster
- Flooring damaged
- Soft, springy floors
- Water stains near windows
- Water stains on ceiling below bathroom
- Water stains in attic
- Pipe insulation missing
Selling a house is a very difficult job. You want to sell your home as quickly as possible and at its full value. You must also be aware of state & federal laws and how they affect your sale.
This involves a lot of time, effort, and patience, as well as specialized skills and knowledge. That is why most people turn to a Real Estate Agent for help. When you sell your home, the Real Estate Agent will work for you as a client. You sign a contract with the agent, called a listing contract. The agent then works for you and receives an agreed commission when the house is sold.
In a seller/client relationship, the agent guides you throughout the real estate transaction, providing information on such issues as pricing your home, which purchase offers are fair, and how to structure a purchase contract to your advantage. It is the business of the Real Estate Agent to help you sell your home with minimum delay and to help you realize every dollar it is worth.
Although the Real Estate Agent works for you and owes you additional services, the Real Estate Agent must also treat his or her buyer customers fairly. The buyer is generally the customer. There is no contract between the buyer and the Real Estate Agent.
Today, however, many home buyers use a buyer's agent, a specialized Real Estate Agent who is the home buyer's client and works for the interests of the buyer. This makes it even more important for you to have an expert on your side looking out for your best interests.
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