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We often make our best efforts in life to buy a home since it is the most valuable asset that we can purchase in our lives. We spend a lot of money in home purchasing which include agent fees, closing costs, mortgage payments and so on. Dc Fawcett says that we also put in lots of efforts and time in hiring real estate agents, researching the internet for various things, home inspecting and so on.
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Dc Fawcett Reviews – Disappointments & Advantages Of Buying A Home
We often make our best efforts in life to buy a home since it is the most valuable asset that we can purchase in our lives. • We spend a lot of money in home purchasing which include agent fees, closing costs, mortgage payments and so on. Dc Fawcett says that we also put in lots of efforts and time in hiring real estate agents, researching the internet for various things, home inspecting and so on. • But, truly are we all completely satisfied with our homes after we buy them? The answer to this question is a big no but why does this happen even after spending so much time, efforts and money.
They find that the home is too big or small • People don’t plan for the future: for instance: when people get married, they purchase a single BHK house initially but when they have kids in the near future say about in 4 to 5 years, then they find that the house is too small and too cluttered. • They deeply regret buying the home and feel that they could have bought something bigger. So what is needed is basic planning and if people plan to have kids, they should settle in for bigger houses. The other scenario is when people find a house too big. • A single BHK is enough for two people especially if they don’t want to have kids. When they purchase a big house, they find that they don’t use most of the rooms later. Both these situations lead to regrets on the part of the home buyers
They find the neighborhood unsuitable • People don’t often research a neighborhood by themselves and this is the reason why the end up finding the locality unsuitable later. There have been instances where people from the cities find a suburb to be unsuitable if they cannot walk with ease outdoors. • Why don’t people conduct researches? This is because, they entrust the real estate agent with this responsibility and sit back. But, a real estate agent may not be honest always and his main aim may be to sell the home and he ends up overlooking such things which may seem small to him. • Another reason can be that real estate agents don’t understand exactly what you are saying. So, people must go to the locality, talk to locals, visit the nearby supermarket or parks and roam around it to discover every flaw and plus.
Dc Fawcett Reviews the Disadvantages Of Buying A Home: • In the millennial generation, many want to be proud homeowners. Equity, pleasure, satisfaction, comfort, stability, rental income, asset and so on are included in the bevy of bonuses that come along with home ownership. • To know more on the advantages of home ownership, read Dc Fawcett’s article on the same. (Dc Fawcett discusses the advantages of buying a home). However, home ownership has its own cons. In this article, Dc Fawcett Reviews the disadvantages of buying a home.
Costs associated with owning a house are large • Buying a house is very expensive and you need to have proper planning for that. You have to save heavily to make down payments initially. Then you have your monthly mortgage payments. • You have to pay taxes, home inspection costs, survey costs, closing costs and so on. You may have to pay accumulated homeowner’s insurance and property taxes for a couple of months initially. • On top of these, you have to shell out home association dues in the beginning. Whereas, you may just have to pay a security deposit initially and then pay monthly rental payments for renting. It works out much cheaper compared to buying a home.
Much more responsibility • If you buy a home, you have a greater responsibility. You have to take care of maintenance and repair works. • You have to be a part of the home owner’s association and if you belong to a multifamily home, you may have to contribute to all social and developmental activities of the home. Foreclosure • When you miss out on monthly mortgage payments and cannot do anything about it, your home is likely to go into foreclosure. • Foreclosed homes are sold at a much lower rate than they were purchased. Foreclosure affects your credit rating, depresses you psychologically and results in loss of sweat equity. If you choose to sell your house by yourself, then you will have to sell at a much lower price than the market value as it is an emergency.
Dc Fawcett Reviews – Advantages Of Buying a Home: • Many people value home ownership a lot. They are proud to be the owners of a home. They take loans and save to make initial down cash payment. There are many advantages to buying a home. In this article, Dc Fawcett VREIC discusses the advantages of buying a home. Sense of achievement in owning a home • People often feel great pleasure in buying a home. The feeling that “it is mine” is great. • They can paint it, clean it and alter it the way they like. They can blow a smoke, cheer up with a drink and have their favorite dog as their companion. It is the best emotion in this world.
Inflation • The prices of homes tend to appreciate. Even though the Federal reserve of United States of America tends to keep the interest rates low, inflation is likely to come about soon. • In fact the housing costs inflate at a faster rate than the interest rates. When the inflation breaks out, the homes will sell at huge prices and home owners will make huge profits. The rental incomes from these homes will magnify. Tax benefits • Home owners have to pay property taxes and monthly mortgage payments. These get deducted from the annual taxable incomes.
Better health, immense satisfaction • This is obvious is it not? Home owners feel a high amount of pleasure and an immense amount of satisfaction. • They have a higher interest in their neighbors and socialize better than rental counterparts. • They feel that they are going to spend their entire life time in the home and establish good relationships. This happy life makes them more healthy and prosperous. Have a greater sense of duty • They take higher interest in the affairs of the home like security, maintenance and so on. In a multi family home, it is often the home owners who come down to meetings and volunteer to help in resolving common issues.
Children of home owners grow up to be smarter • This is a psychological factor. Children of home owners tend to acquire better skills. When they live in their own homes from childhood, the urge to own a home when they grow up develops in their young age. • They tend to acquire better skills wanting to excel in their dream profession. They also tend to excel in studies. • The parents of such children also elevate their job oriented skills to a higher level since they need sufficient money to pay the mortgages. These skills get shifted to their kids also. But it may turn out to be the other way. Such children may think that they already have a home and will become lazy. But on the positive side, they tend to be active and smart
Conclusion • These are just some of the regrets that of home buyers that Dc Fawcett Reviews here and there are many more. • Dc Fawcett, the founder of Virtual Real Estate Investing Club, has written on the real estate in his blogs. One could go through the blogs and get a fair idea regarding flipping houses
Also Refer my sites: • http://vreic.com/ • http://virtualwholesalinginvesting.com/ • http://virtualcashflowinvesting.com/ • http://virtualrehabbing.com/ • http://dcfawcett.reviews/ • http://dcfawcettrealestate.com/