Why a New Home Should Be Your New Year's Resolution
Your New Year's Resolution: A New Home
If you are like many people, you start the new year with convincing yourself that you will make a major change in your lifestyle. For many people that may mean the 100th attempt to quit smoking or to start working out or to eat better. All of those new year's resolutions are worthy causes, but this year think about something that will truly pamper yourself and position you and your family better for retirement….buy a new home. Many of the standard New Year's Resolutions can now be achieved when a major life change, such as a new house changes your day to day activities. Change begets change.
A New Home Changes Your Life
Buying a home is a major life change that brings with it many joys. The build up to the closing, bringing the kids to walk through the home for the first time, decorating your new home, even meeting your new neighbors. Buying a new home for yourself and your family is a major life change and can spur many of the more standard resolutions into actually taking place. Because so many of your daily activities get adjusted when you move into your new house, it's a little easier to make some other changes and have them stick.
Everything Becomes New:
Waking up in your new bedroom
Enjoying family time in your new living area
Cooking in your new, modern kitchen
Relaxing in your new backyard
Your drive back and forth to work even changes
Preparing For Your Future
Investing in a new home not only brings the obvious enjoyment of your fresh new atmosphere, but sets you and your family up for more secure financial future. For most people, their personal home is the largest investment of their life. Real Estate has consistently outperformed the stock market for acquiring long term weath. Investing in your first home, or upgrading to a larger or nicer home generally increases that investment and provides a more stable financial future. As with any asset, you can access the equity in your home (the financial part in which you own outright) with a HELOC or home equity line of credit or simply a second mortgage.
Great Time To Sell
For many people, to buy a new home means that you must first sell your home your are currently in. Good news is this is 2016 is a great time to sell your home. The real estate market has been on a steady increase and mortgage interest rates are still at historic lows. With those two aspects of the real estate market working in your favor, its a great time to sell a home and maximize your existing investment as leverage to your new, larger investment---you new home.
Great Time To Buy
You may ask, how can it be a great time to sell a home, but also a great time to buy?
Well, the answer is MORTGAGE INTEREST RATES. It's important to keep in mind, when a homebuyer is looking for their next house, they have to look at the total payment of the new property. That includes the principle and the interest on the home mortgage. With rates still low (most people anticipate them going up in 2016) that means they can spend more on the home itself and less on the interest side; ultimately letting homes sell at higher sales prices, while keeping the overall affordability of the new home low. So from the buyer side, they can buy more of a home for the same price, and lock in low rates for 30 years---for the seller side, their home has a higher fair market value. It's a win win!
Getting the Process Started
If you have made the decision to invest in a new lifestyle and improve your family's financial future, there are a couple of steps to get started in the right way.
The first thing you should do is find a real estate search that contains EVERY listing from EVERY real estate broker. Many of the large, national real estate searches (such as Zillow) DO NOT contain the full real estate inventory. Click here if you want to search all homes for sale in Hood County TX.
If you must first sell a house, then the first step is to get an instant home valuation on your home. Keep in mind, you will want an Automated Home Value that has the database of all active and sold homes (unlike the Zestimate). Click here to get an Immediate Automated Home Valuation.
The next step in selling a home is to have a real estate agent look at your home and give an exact valuation. Although the AVM mentioned above is a good starting place, it in no way gives an exact picture of what your home will bring on the open market. For that you need to contact a REALTOR.
Whether buying or selling, you will want to use a licenced real estate agent. It has been proven over and over again that selling your home with an agent nets you more money. From the buyers perspective, you will want to choose a reputable real estate agent that you can trust to look out for your best interest. In most instances, it doesn't cost you a penny. Here is a list of professional real estate agents in your area.
Make It Happen
Once you have chosen your real estate agent, whether buying or selling or both, they will walk you through the rest of the process. DON’T waste a lot of time fumbling around without an agent, let someone experienced in the real estate process hold your hand and walk you through the process.
If you want a New Year’s Resolution that makes a major impact on you and your family's overall well being, a new home is the way to go.
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