This article discusses the financial obligations of both homeowners and renters, and how to determine if you can afford to buy a house. Homeowners have to pay more than just their monthly mortgage payments, such as taxes, insurance, and repairs. On the other hand, renters usually only need to pay their monthly rent and a deposit when they move in, along with optional pet or cleaning deposits. It is...
Avg home price/sq-ft in Middle Georgia increased to $123 from $118, reflecting recent growth. A 2,058 sq-ft home on Ashford Chase Court sold for $255K, indicating market activity. Figures based on sales from July provide current trend insight. Recent data suggests ongoing price fluctuations in Middle Georgia's housing market....
Homeowners pay $14,144 yearly, or $1,180 MoM, for bills, taxes, insurance, and maintenance on top of their mortgage. Nationally, property taxes, homeowners insurance, and utility payments avg $7,742....
Georgia's buyers can save $30K by building instead of buying a home. The estimated cost to build a home in Georgia is $365K. The median home price in Georgia is $395K....
Despite earning a salary of $100,000, which is higher than the national median household income, 49% of people still find it difficult to buy a home. The 28/36 rule suggests spending no more than 28% of your income on housing expenses and no more than 36% on total debt payments. This means that on a salary of $100,000, the mortgage payment should be no more than $2,333 and other debts should be no more...
Today's market is tough for many prospective homebuyers, with mortgage rates on average around 6-7%, and a shortage of homes for sale pushing up prices. However, for some buyers, now can still be a great time to buy. Plus, you can start building equity in your home and plan to refinance in the future. Continue to full article...
Rising interest rates and economic uncertainty have created challenges for borrowers. Mortgage brokers and agents play a crucial role in guiding clients through these challenges and providing financial advice. It is essential for mortgage professionals to prioritize building relationships and offering advice rather than focusing solely on transactions....
When deciding whether to move or remodel a home, many factors should be considered, such as the cost of materials, the cost of hiring a contractor, the need for specific features, and the location of the home. Researching home prices and neighborhoods in the area can help determine if it is better to move or remodel. Continue to full article...
A new analysis suggests that office buildings won't recover from pandemic-related value reductions until around 2040. The prolonged recovery is attributed to the shift of people away from city centers and the adoption of remote work practices....
Baby boomers often fail to negotiate their mortgage rates, missing out on potential savings. Negotiating a lower interest rate can save thousands of dollars over the life of the loan. Strategies for negotiating a lower rate include shopping around, improving credit scores, and paying down debt....
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