Money Saving Tips for Home Sellers

Buying or renting? The age-old question! Making that important decision is challenging in the best of times. Yet when the country is recovering from an economic downturn, people can lack confidence and be more uncertain about the right choice.

Does Buying A Home Make Financial Sense?

According to a recent National Association of Realtors survey, 85% of home buyers between June 2009 and July 2010 believed that they were making a sound financial decision. Almost 50% of the buyers and sellers in the survey considered their home to be a better investment than stocks. Nearly one third of the group believed their home to be an investment ranking at least on par with stocks. The findings were similar among all categories of buyers (first-time buyers or existing home owners, couples or individuals, male or female).

Will Home Ownership Be A 'Get Rich Quick' Investment?

In earlier decades, many buyers viewed home ownership in that light. That perception is changing in the current market. The median expected length that today's home owners will stay in a residence is 10 years. Generally, repeat buyers plan to remain in the same residence for 15 years. Of course, these long-time home owners can still turn a profit further down the road.

Should I Rent Or Should I Buy A Home?

There is no simple answer to this question. Reaching a final decision means that individuals have to examine their own situation from every angle. They must consider their goals, circumstances, and even one's personality.

Certain people prefer to be renters. They do not want to take on the responsibility of home ownership. If there is a problem as a renter, they can call the landlord. Renters without signed leases are able to move at a moment's notice. Some people enjoy that sense of freedom.

Yet other renters (especially with families) long for home ownership. Renters must have certain specifics in place if they are planning to buy a home. They should have a down payment and closing costs.

Potential home buyers will need to qualify for a mortgage. As well, they must be able to afford the cost of buying a home. Home ownership costs include more than the purchase price. Homeowners must be able to pay the monthly mortgage costs, property taxes and insurance, as well as maintenance costs.

Making The Final Decision

People have to examine their personal circumstances before they decide to rent a residence or buy a home. They must consider the pros and cons of each option. There is help out there to assist individuals with this process. It is possible to find classes in different locations that are focused on exploring the "buy or not to buy decision."

Various real estate professionals have written e-courses or organized classes about renting versus home buying. In addition, there are similar programs created and run by groups or businesses with no vested interest in trying to sell homes. People can get expert help to guide them in making the right decision.

Should you buy or keep renting?

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U.S. homeowners have only until December 31, 2010 to take advantage of the current Residential Energy Property Credit. This 'green' program is available to home owners who make energy-efficient improvements to their houses. New homes or rentals are not eligible for this credit and the home must be the person's principal residence.

Federal Tax Credit

This property credit is about to expire and qualifying items must be bought and installed before the end of 2010. People can make purchases such as heating and cooling systems, insulation, roofing, windows and doors, water heaters, and biomass stoves. The credit is a dollar-to-dollar reduction on the amount of tax owed and home owners can receive up to 30% of the cost – up to $1500 per home. Two or more unmarried people living in the same home with joint ownership are each eligible for the tax credit on money spent for improvements. Yet the total credit cannot exceed $1500 for a single home.

The credit includes installation costs in certain categories but not for all purchases. For example, installation costs are covered for heating, ventilating, and air conditioning (HVAC). The tax credit, however, does not include installation costs for insulation. As well, not all ENERGY STAR qualified products are included in this initiative. Homeowners are advised to check out the rules of eligibility for this credit.

Associated Components

People are wondering if the tax credit applies to components associated with a product. If a homeowner purchases a biomass stove, will the cost of a hearth, stovepipe, and chimney be eligible for the credit? The IRS administers this program and they have not issued any written guidelines about eligible components.

Homeowners can contact the IRS for the official word. Yet it has been widely suggested informally that components are covered if they are critical pieces of the product's energy efficiency. If the component can be used with a non-qualified product, it does not meet eligibility guidelines for this credit.

How To Apply

For products installed in 2010, homeowners must file the IRS Form 5695. They must submit the form with their 2010 taxes by April 15, 2011. Homeowners must save receipts and the Manufacturer's Certification Statement for their records. A Manufacturer’s Certification Statement is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. Manufacturers should provide these certifications on their website.

Income Limit

There is no income limit with this program but it is a 'non-refundable' credit. Homeowners' credits cannot exceed their tax liability (the amount they pay in taxes).

Future Energy

If a homeowner cannot make the December 31 deadline, there are other opportunities to take advantage of energy-efficiency programs. Indeed, new homes and second homes (as well as existing homes) are considered for a tax credit in two additional incentives. The programs vary and cover from 30% of the cost with no upper limit to 30% of the cost and up to $500 per .5 kW of power capacity. These credits do not expire until December 31, 2016. Learn more about Federal Tax Credits for Consumer Energy Efficiency.

Last chance for homeowners to get green tax credit

Have You Applied For The Residential Energy Property Credit?

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Black Friday shopping is no longer only about televisions, toys, and other terrific (and cheap) merchandise. Potential home buyers are just as likely to get a Black Friday deal on a new home as the latest laptop. There are real estate deals to be made on this busiest shopping day of the year.

After all, buying a home qualifies as a significant purchase and long term commitment. Why shouldn't home buyers be able to enjoy a holiday sale? Actually, if you check today's realtor websites and housing blogs, it is not that uncommon to see a home profile and a Black Friday notice side-by-side.

Buying a Home on Black Friday

More Shoppers – Fewer Buyers

While almost everyone else is checking out the e-reader specials, the alert home buyer can be chatting with home sellers. Generally, houses are not on the market in the holiday season unless home owners are serious about selling their home. Otherwise, they would be putting their efforts into holiday shopping or seasonal decorating.

The timing is perfect for an enthusiastic buyer. Interested sellers are waiting and there is less competition for home buyers on Black Friday. Many potential buyers browse though the stores instead of the real estate market.

Buyer's Market

Of course, every day in this holiday season is shaping up to be a buyer's market. Prices are favorable for buyers - although sale prices will vary in different markets. Home sellers, however, are cutting their prices. The statistics at Trulia.com show a common trend in the real estate industry.

"Twenty-seven percent of homes listed for sale on Trulia as of November 1st had had at least one price cut - in some cities, 33 percent, 39 percent - even 46 percent of the homes for sale had already been discounted by their sellers." ~ Tara-Nicholle Nelson, Trulia.com

Sale Prices

If a home buyer can snag that Black Friday 'sale' on a new home, they will also save on property taxes. Since property taxes (in most instances) are tied to the purchase price of a home, sale prices mean tax savings.

Holiday Spirit

If a home buyer finds their dream home on Black Friday, it is perfect timing to suggest a few 'included' deals. Often retailers add a bonus item with a Black Friday purchase. Home sellers might be prepared to follow suit - in the spirit of the season.

A home buyer might love a few furniture pieces. Maybe the seller will include them in the purchase. Such a deal is really not far-fetched because sellers in the holiday season want to sell their homes. As well, home owners have been known to include items with the sale of their house. In fact, one Connecticut home seller threw in a vacation property to sell his home.

Yet buyers can probably lower their sights to 'inclusions' being a piece of furniture rather than a full-scale property. Home sellers might be willing to include select items in the sale. Buyers must check out the situation, however, with their broker or agent and mortgage expert. 'Included items' must fit within lender and appraisal guidelines.

If you are committed to buying a home, Black Friday might be the best day to shop around for a good deal. Actually, anytime during the extended weekend is a great time to look for a new home. Just like with retailers, there is an opportunity to get a deal in the days following Black Friday. If you are a home buyer at this time of year, you could really be "home for the holidays."

5 Ways Real Estate is on Sale This Black Friday

Non-traditional Black Friday Deals

Will You Be Buying A Home On Black Friday?

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Did last month's 'foreclosure freeze' cool down or heat up the real estate market? Just over a month ago, most US states agreed to a freeze on foreclosures in response to suspected flawed practices by lenders. Apparently, certain lending officials were 'robo-signing' foreclosure documents. They were signing off on foreclosures without reading the information. The moratorium got mixed reviews from icy stares to warm welcomes.

Out in the Cold

Of course, some US home owners were left out of the loop altogether when it came to the foreclosure freeze. In early October, Bank of America, JP Morgan Chase, and Ally Financial (parent of GMAC Mortgage) said that they would suspend foreclosures to investigate 'robo-signing' – but not in every state. For example, Texas foreclosures were not on the list for review.

Uncertain Future

When these major lenders announced their intentions, they included 'judicial foreclosure' states. Texas has 'judicial foreclosures' (foreclosures carried out by the state) and non-judicial foreclosures. Therefore, Texas was not part of the voluntary suspension.

As a result, many Texas home owners were uncertain about the entire process. They were advised to contact their lenders but flawed foreclosures did not have to be frozen in this state. Robert Gleason, Director of Governmental Affairs, commented on the uncertainty that faced Texas home owners.

"Many homeowners will have to wait until next year to be able to see if this pause on foreclosures affected their home values, but in the current market, it is a possibility," says Robert Gleason, Director of Governmental Affairs.

Foreclosure freeze could chill local market

Hot Market

If a home owner was involved in a conventional sale (not a foreclosure or short sale), the freeze might have freed up more possibilities. Keep in mind that foreclosures had been responsible for up to 30% of all sales in certain areas. With foreclosed properties off the market, conventional sales faced less competition.

Foreclosure sales in Tampa Bay, Florida, fell 9.3% in October. In an interesting but not surprising twist, conventional sales experienced an identical (9.3%) increase. Tampa Bay figures were repeated in varying degrees across the country.

The foreclosure freeze heated up conventional sales. Yet the moratorium did not change everything in the home seller's favor. House prices did not increase to benefit home sellers. Actually, prices for conventional sales were 2.2% lower than in October 2009.

Analysis: foreclosure freeze helped home sellers.

Cold Comfort

As well, a few home sellers ran into additional problems with the foreclosure freeze. They sold their home with the hopes of moving in elsewhere. In specific cases, their new house was tied up in the moratorium. Home sellers could make quick sales during the freeze. Moving in, however, took longer than expected in the aftermath of the 'robo-signing' fiasco.

Cooling Down

In addition, the foreclosure freeze had a downside on various levels. The longer a home just sits there, the less value it has, and the more detrimental effect on home values in the neighborhood. Besides decreasing prices, the freeze cooled more than one person's enthusiasm for the market.

Potential home buyers entered up in a quandary. Some buyers have been caught 'in the process' of buying for more than a year. Home buyers have discovered that it is not always easy to buy a home. Especially in the autumn chill caused by the foreclosure freeze!

Foreclosure halt affecting Berks' listings

How Has The Foreclosure Freeze Affected You?

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Home sellers must get potential buyers to check out their house. Sellers have to be ready for this process. They must prepare their home and themselves for the sale.

Selling a home requires you to detach yourself emotionally from your house. The sale has to be set up to be attractive to home buyers. No monetary value may match your sentimental attachment to a home.

Yet selling a home must be less about sentiment and more about practical concerns. Home sellers need to address various issues including everything from staging a home to budgeting for selling expenses. A home sellers' checklist can help you prepare to sell your home.

Home Sellers' Checklist

Educate Yourself About The Process

Arm yourself with the tools to get the most from the sale of your home – the best price and the most satisfaction. Free home selling seminars are cropping up across the US, Canada, and elsewhere. Home sellers should take advantage of seminars and similar resources such as e-courses, books, and articles from reputable industry sources.

As well, be open to the advice of your real estate agent and trusted family and friends who have gone though the process. By performing 'due diligence' (researching the situation from all angles), home sellers put themselves in the best position to sell their home.

Free Home Seller Seminar

Organize The Information

A ton of resources exists out there for home sellers. Stick to reputable, well-known, and trusted sources for accurate information. Sellers can collect mounds of research. They need to organize the data. Using folders to file the information according to category will simplify the process.

Store collected research and names of contacts as well as appointment dates in an efficient filing system. In addition, include documents such as household warranties and copies of property tax records and utility receipts. Obviously, you will also need to have easy access to your property deed.

Make Time In Your Calendar

Selling a home takes extra effort and time. Meetings and preparation are inevitable during the process. Plan ahead and arrange free time in your schedule. Sellers must set aside space in their calendar to devote to the selling process. If home owners try to sell their house and still hold down their regular schedule, they will end up stressed and not in the best frame of mind to sell a home.

Budget For Extra Expenses

Of course, home sellers have to budget for the costs of closing a sale. Yet they also have to consider the cost of repairs (major or minor) to improve the saleability of a home. Home sellers must also budget for staging their home.

Staging A Home

Staging your home involves presenting a home so that potential buyers can see themselves living in the space. Staging a home can include removing clutter, making everything sparkle, and adding welcoming touches or even a refreshing neutral shade to your wall. If you figure that staging is not worth the effort, think again. According to a recent survey by The International Association of Home Staging Professionals®, staged homes spend 83% less time on the market than non-staged homes.

Staging a House to Sell provides Big Returns

What Would You Include On A Home Sellers' Checklist?

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On this Halloween weekend, the more mysterious and creepy your entrance looks, the better kids (and adults) like it. Yet come Monday morning, lose the look! Indeed, if you are planning to sell your home, a mysterious, hidden, or overgrown entryway won't attract buyers. No dead branches or plants in the yard! Without a doubt, a horror of a door will spook your buyers.

Potential home buyers respond to well-tended property and a welcoming entrance. A neat and attractive entryway gives the impression that you care about this home. An inviting door and tidy yard can help to sell your home before the buyers even see the interior.

Added Attraction

Every house should welcome guests (and buyers) through an attractive and well-maintained front door. No scratches and scrapes or doors that won't open or close without considerable effort! The finish on doors can fade and chip after years of enduring weather conditions. Sometimes it is not necessary to buy a new door. A light sanding and a paint job might do the trick. Follow the manufacturer's instructions to choose the right type of paint.

Complementary Colors

The color of the door must work with the color scheme of your home's exterior. It doesn't have to be the same shade as the house. Yet the color should not provide so much contrast that it draws attention to the door alone instead of the entire home.

A bright color can work if your home is surrounded with brilliant flowers or blazing foliage. Generally, colors that blend with natural hues look welcoming at an entrance. Choose shades that match the natural elements (like stone or brick) of your home and its surroundings (landscape and other buildings).

Brilliant white is not an appealing choice for a front door because it is a stark color. Bright white is a cold tone - not a welcoming color. A white paint with a touch of yellow or pink is a better choice.

Your door should fit the look and style of your house. A small cottage should have a cozy look. A stately home should have a more formal entrance.

Surviving the Storm

Your door must look sturdy enough to survive a storm. You don't want potential home buyers to think that their entry door will blow down at the first gust of wind. If a home has a main door and storm door, both should look their best. If you can't afford to replace the main wood or metal door, buy an affordable and decorative storm door to make a great first impression.

Getting a Handle

When home owners put in the time and effort to make improvements to their entrance, they are 'getting a handle' on the sale. They are setting the stage for the sale of their home. Maybe that will mean having to buy new door handles.

Metal door handles can tarnish and chip over time. If yours look the worse for wear, replace them. Handles and locks are not difficult to install and it could be a DIY project. If there isn't already a deadbolt on the door, it may be a smart idea to install one. It will be safer for you while you're in the home as well as an extra safety feature that will impress buyers.

Decorative Touch

Even though the Halloween decorations are gone, potential home buyers won't mind a glorious fall arrangement or silk flower wreath on your door. It adds a decorative and welcoming touch. Inviting doors 'invite in' guests – and home buyers!

How to Improve the Front Entrance to Help Sell a Home

How to Choose a Front Door Color

Which Inviting Color Did You Choose For Your Front Door?

Within the past few days, there have been real changes to reverse mortgages. Of course, this option is a real change in itself – but it can be a step in the right direction for seniors. A reverse mortgage is available for home owners 62 and over. It releases the home equity in property as a lump sum, multiple payments, or a line of credit. Repayment is deferred until a home owner passes away or leaves to go into a seniors' home or other living arrangement.

A reverse mortgage can free up cash so that seniors can take care of extra expenses, enjoy life, and still be able to stay in their homes. It allows them to avoid the hassle and stress of selling. Reverse mortgages offer seniors a chance to have money to cover everything from renovations for safety reasons to that dream vacation. Recent government moves have made it even easier and cheaper for seniors to get a reverse mortgage.

HECM Saver

The Home Equity Conversion Mortgage (HECM) Saver, a federal government-backed product, has cut the upfront mortgage-insurance premium to 0.1% from 2% of the property's value. This premium brings the actual interest rate close to 6.75%. Generally, reverse mortgages have high closing costs and they favor people who are planning to stay in their home in the long term. With this latest decrease in the mortgage-insurance premium, reverse mortgages are now looking better and better – even to home owners with short term needs.

Upfront Information

Along with the change to the upfront mortgage-insurance premium, reverse-mortgage counselors have to be more 'upfront' with their clients. The Department of Housing and Urban Development is requiring all HUD-approved reverse-mortgage counselors to provide their clients with every available piece of related information. Clients will be receiving a 28-page consumer booklet on reverse mortgages, a tour of the new "Financial Interview Tool," and an invitation to check out the BenefitsCheckUp program.

Getting Cash out of Your Home

Pricey Prerogative

The Generation Plus Loan, available through Generation Mortgage, targets homeowners 62 and over who own homes with a value between $500,000 and $6,000,000. Unlike the Home Equity Conversion Mortgage (HECM) offered by HUD, this jumbo reverse mortgage requires no mortgage insurance but has a higher interest rate. The Generation Plus loan carries a fixed rate of 7.78% or 8.78% - depending upon the program.

The funds must be taken at closing and there is a required minimum FICO score of 700. Requesting a specific credit score might seem odd to people. Keep in mind, however, that there is no mortgage insurance requirement with this program. The lender needs to know if a home owner has the financial resources to maintain the property.

Jumbo reverses have been made available by various lenders since 2000. With the housing crisis, many jumbo reverse plans went out of favor in 2008. The chairman of Generation Mortgage explains the advantage of the Generation Plus loan.

“The NO. 1 priority of seniors is they want to stay at home as long as possible, and it’s the least expensive place for them to be," says Jeff Lewis, chairman of Generation Mortgage.“The Generation Plus simply gives more of them an opportunity to do so.”

Jumbo mortgage now available for seniors with pricey homes

Actually, reverse mortgages have fallen by 30% during the past fiscal year. With the HECM Saver and other incentives, it is believed that more seniors will take advantage of reverse mortgages in the coming year.

Are You Planning To Take Out A Reverse Mortgage?

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Selling a home is an emotional decision at the best of times. Of course, the obvious financial implications are added into the mix. Imagine if you're a senior who has lived in a home for 40 years or is facing a move to a seniors' home. The complexity of the situation goes up a hundred fold.

Major Decision

Factor in falling house prices and selling a home can be a huge dilemma for seniors. Yet they do not have to face this situation on their own. There is help out there for seniors who are contemplating this life-changing decision.

Getting Help

Firstly, seniors need to access trusted sources to help with selling property. Of course, the need for professional advice in this area is a 'given' and it applies to anyone in any age group who is planning to sell a home.

Real Estate Specialist

Seniors can take advantage of the expertise of various Seniors Real Estate Specialists (SRES) across the country. Everyone may not be aware that there are realtors who specialize in seniors' services. Actually, there are more than 7,000 agents in 50 US states who hold this designation.

Having this category in the industry makes perfect sense. When selling their homes, seniors have some of the same concerns as any other age group but they also have a separate set of issues. It pays for seniors to enlist the help of a Seniors Real Estate Specialist.

Falling House Prices

Today's seniors have to face the reality of falling house prices. They must confront a common issue - to sell now or wait and sell at a better time. With seniors, however, the issue becomes way more complicated because health issues or having a spouse pass away can increase the urgency of the situation.

Not All Gloom and Doom

Of course, there is always a bright spot in every market. Sometimes a senior who bought their house decades ago for a low price is surprised to see how it has risen in value over 40 years. The home's worth might have decreased in recent years but seniors are often shocked by the market evaluation. Even if seniors are pleased with the price, they still deserve to get the best advantage in today's market. An experienced realtor can guide them through the real estate process.

Their lifestyle will play a huge role in the final decision. Are they able to maintain this home in their present state of health? Are they living in a safe and comfortable environment for their age and condition? Is this the right neighborhood for them anymore? Maybe they no longer drive and need to be near public transportation. Is this the best area to live in at this stage of their lives?

Moving Forward

Seniors need the answers to a thousand and one questions. Industry experts can provide the answers. Health professionals can also advise them about the type of accommodations that would work best for them – whether a smaller home or a seniors' home. After all, selling a house is not just about leaving a home. Seniors also have to consider the cost and implications of moving to another home.

What seniors should know about selling a home

What Challenges Do You Perceive For Seniors Selling Their Homes?

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Ah, home sweet home! Make that home 'small' home for an increasing number of home builders and home buyers. House construction is seeing smaller and less expensive homes because builders are not getting the same price as before for expansive, upscale properties. A few builders claim that they are not making back the construction costs.

Shrinking Size

Some builders are getting rid of homes at a loss and concentrating instead on the business of renovation. Although in uncertain economic times, neither one is a safe bet. Everything has experienced a decrease in this economy (in certain areas more than others). Everything from house appraisals to new homes to house prices is seeing a decline – and now houses are also shrinking in size.

Part of the decision to go 'smaller' is fuelled by varied events that have undermined people's confidence in the market. Such issues as foreclosure rates, flawed foreclosures, lending issues, and more, are causing a build up of anxiety among potential home buyers. Of course, home builders share their anxiety.

"It's slowing the recovery of new construction. It's sapping confidence," says Robert Filka, CEO of the Michigan Association of Home Builders

In a certain Michigan suburb, a 3,600-square-foot home with 10' ceilings, is selling at a loss for the builder at $699,000. In 2008, that same home was priced at $875,000. Within the past decade, homes in that neighborhood had sold for $2,000,000. Times have changed and builders are changing with them.

No Luxury

With unpredictable appraisals that can come in even $80,000 less than expected, luxury homes can be a problem. Appraisers have to factor in recent sales in the neighborhood. At present, neighborhood sales can include anything from a short sale to a foreclosure.

As well, home buyers are often asked for higher down payments (even up to 25%). Luxury homes may start looking less and less appealing to home buyers. Builders who have noticed that trend are opting to construct smaller homes. Maybe a less expensive home will not seem as intimidating to the potential home buyer.

Hard times force home builders to think small

Downsizing

Some people are adamant about the benefit of small houses. Cost-effectiveness, smaller mortgages, and a simpler lifestyle are a few reasons that people give for choosing smaller and less expensive homes. Even environmental reasons play into the desire for smaller homes. They use fewer resources in building and for maintenance.

Of course, buying a 'too small' home is not a wise move. A home can be as small as anything - as long as it suits your needs. If a home does not have sufficient space, it will not work for a growing family.

Perfect Fit

Yet if the size suits you, a small home might be the right choice. People have found 'small home' ownership to be an exhilarating experience. It frees up savings for travel and it frees up the precious commodity of time.

'Small home' ownership means less time spent cleaning and fewer hours required for maintenance. Smaller homes allow you to have more quality time with family and friends. Maybe though not everyone will want to go as 'small' as this home builder.

Take a look at - World's Smallest House!

Have You Been Dreaming of Building a Small House?

Would A Small Home Suit Your Needs?

Home ownership – an integral part of the American dream - is the "dream that never dies." Despite a difficult economy, the dream of home ownership is alive and well and living in the hearts and mind of potential home owners. Actually, there are plenty of reasons to continue to live the dream.

Heart's Desire

Home ownership starts in the heart. The need for home and family is at the core of our being. If you are located in eastern Canada, you can even buy a home in Heart's Desire or live at your home at in Heart's Content.

Low Pricing

When house prices are at their lowest, it is the perfect time to pick up a home. Whether you are buying for the first time, moving to a bigger place, or planning an investment, buying during favorable conditions is a wise move.

No Mistake

Buying a home is hardly ever a mistake - if the buyer is aware of and prepared for the real deal. The smart home buyer checks into all important details before buying a home. They review the condition of the property and state of the neighbourhood as well as their financial obligations. When home buyers are ready for home ownership, only unforeseen circumstances can wreck their "perfect home."

Home Equity

Home equity is an invaluable asset. Home owners hope to benefit from that equity in the future. Having home equity beats paying rent - where you are just helping to feather someone else's nest.

Better Deal

According to recent studies, home owners, their families, and the community do better with home ownership. People who buy a home have a substantial investment and, according to research, better health. Children do better in school and communities grow and benefit from the participation and involvement of the home owners in the neighbourhood.

Long Term Gain

Home ownership is a long term commitment but there are long term gains for the home owner. And actually, little pain in the process, when you consider the comforts of home! It helps home owners to think of ownership in the long term. That perspective gets them in the frame of mind to live within their means and contribute to their savings.

Investment

Sometimes people buy homes as an investment. Even then, home ownership should still be seen as a long term investment. For the maximum investment possibilities, do not view home ownership in the short term.

Although many investors think about 'flipping' homes, sometimes you have to stay longer to make it pay for you. It is wise to look at buying a home as a 7-10 year investment. As well, there are tax deductions for home owners, but buyers need to be aware of the type of savings.

Home Sweet Home

Home ownership is about feelings and emotions. Of course, potential home buyers have to temper these thoughts with reality. Home ownership involves mortgages and maintenance.

You can't go to sleep in this dream. A home buyer has to be on their toes. They have to see things in the cold, harsh light of day. If home buyers are prepared for the deal, they can live the dream in their home, sweet home.

Realtors Weigh In: Is Home Ownership Still Part of the American Dream?

Are You Dreaming Of Home Ownership?

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