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Top 4 Home Renovation For Maximum Return On Investment (ROI)

Renovation for Max Return On Investment

Renovation For Maximum Return On Investment

Renovation For Maximum Return On Investment

Top 4 Home Renovations for Max ROI [INFOGRAPHIC] | Simplifying The Market

Renovation For Maximum Return On Investment  Highlights:

  • Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which renovation projects will net you the most Return On Investment (ROI).
  • A minor bathroom renovation can go a long way towards improving the quality of your everyday life and impressing homebuyers.
  • Adding curb appeal by upgrading your landscaping helps get buyers in the door.  These upgrades rank as the 2nd and 4th renovation for returns on investment.

 

If you are searching for a Bergen County Realtor contact Steven Batista at 201-207-5217. I help with all your real estate needs.

 

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4 Reasons Why Summer Is a Great Time to Buy a Home!

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home and here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%.

Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage.

Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life.

As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by the price of the home and the current mortgage rate. It appears that both are on the rise but what if they weren’t? Would you wait?

Look at the actual reason you want to buy a home and decide if it is worth waiting.

Having a great place for your children to grow up, safeguarding your family in a good neighborhood or having control over renovations are the most common reasons why homebuyers are choosing now to buy a home.

If the right thing for you and your family is to buy a home this year, buying sooner rather than later could lead to substantial savings.

Summer Is a Great Time to Buy a Home

 

For all your real estate needs, contact Steven Batista at 201-207-5217 and start the home buying process.

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Getting a Pre Approved Mortgage

Getting a Pre Approved Mortgage Should Always Be Your First Step

pre approved mortgage

When starting the home buying process, some homebuyers research how to get a preapproved mortgage. Getting a pre approved mortgage should always be your first step.

In many markets across the country, the number of homebuyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where homebuyers often need to stand out.

One way to show you're serious homebuyer is to get a pre approved mortgage before starting your home search. Even if you're in a non-competitive market, understanding your budget will let you know if buying a home is attainable.

Freddie Mac lays out the advantages of a pre approved mortgage in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the advantages of working with Bergen County Realtor, Steven Batista, is that I have many relationships with lenders. They will be guide you through the process and help you obtain a pre approved mortgage.

Once you have selected a lender, you will need to fill out their loan application. You'll have to provide your lender credit reports, debt, employment history, down payment and residential history.

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre approved mortgage is one of many steps that will show home sellers that you are serious about buying. It often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers overestimate the down payment and credit scores needed to qualify for a mortgage today.

If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

If you are searching for a Bergen County Realtor, contact Steven Batista at 201-207-5217  I help you find your dream home in Bergen County NJ.

 

Source: Keeping Matters Current