Marnie Bennett: New Homebuyer’s Guide

Marnie Bennett maintains that owning your own home is a worthwhile pursuit. However, like anything worthwhile, it can also be a bit challenging. Your home is a substantial investment in time and money. It is important to do your research before making this investment. In addition to your own research, you should seek professional advice to ensure that you are making the best investment possible.

Rent or Buy?

The fundamental question is whether it makes sense to buy a home in the first place. The recent economic crash has shaken the old consensus that buying a home is the best investment an individual can make. If you browse through newspapers and magazines today, you will find multiple articles touting the new “rentorship society.”

It is true that buying a home is not the best decision for everyone. Doing so has serious implications. When you buy a home, you are committed to making monthly mortgage payments, performing different types of upkeep, and lose the flexibility to move at a moment’s notice. When you add up property taxes, repairs, and fees, owning a home can get expensive.

Renting, on the other hand, offers you flexibility. Typically, leases tie renters down for a year at most. In addition, renters are not responsible for upkeep. And if home prices collapse, a renter’s finances are not affected.

That said, buying a home is still a fantastic investment for many people. The fact remains that when you rent, you are basically paying the landlord’s mortgage with your monthly check. When you own a home, you build up equity and eventually outright own the home.

If you make a steady income, have good credit and are not planning on moving in the near future, buying a home is generally a good option. The key is to select the right home to buy.

How to Select the Perfect Home

You do not have to buy a mega-mansion or a luxurious apartment in downtown Manhattan as your first home. In fact, new homebuyers should start modest. Real estate expert Marnie Bennett suggests purchasing a simple house or condominium. It’s a great way to get your feet wet.

If you are a new homebuyer, the last thing you want to do is get tied up with a huge house in an area that you are not sure that you want to live in for an extended period of time. By starting with a modest house or condominium, you get a feel of home ownership while retaining some flexibility.

Modesty is the best friend of a new homebuyer. Once you decide to buy a home, the next decision is what kind of home to invest in.

The Advantages of Condos

Homeownership does not have to mean a house with a white picket fence. Purchasing a condo is a good option for many new homeowners. Condos offer up the benefits of owning a home without some of the liabilities. Condos accomplish this by providing maintenance services and community standards.

Condos are great for all types of homebuyers. They offer particular advantages to singles and aging retirees. Different types of housing situations are offered up by condos. You can buy a small unit in a high rise or your own bungalow. There are all sorts of options available.

The disadvantage of condos is that they come with a set of rules. When considering a condo, read the fine print. The last thing you want is to move into a condominium community whose rules do not match your lifestyle.

New Houses vs. Resale Houses

The question of whether to purchase an existing house or to build a new one is an important one. Again, your personal needs determine which one is best. Both require vision and creativity.

Building a new house from scratch has obvious benefits. You get to work from a blank canvas and create the house of your dreams. Everything from the color the bricks to the location of each window are under your control. You don’t have to think about remodeling because, well, you’re modeling!

The disadvantage of building a new house is that you have more decisions to make. It takes longer to build a house than it does to just go out and buy an existing house. In addition, building a house will give you less flexibility in terms of pricing. You will end up paying more for a new house than you would for a comparable resold house.

Marnie Bennett finds that buying a resold house can be just as fun as building a new house. You can go around looking at different houses and hopefully “fall in love” with one of them. Lovestruck as you may be, you will find things about the house that you would like to change.

This is a disadvantage of buying a resold house: it will not be exactly what you’re looking for. You will criticize the decorating choices of the previous owners. You will probably need to put in some work after purchasing the house. Resold houses are usually cheaper, but you need to be flexible to be happy with them.

Marnie Bennett’s Real Estate Services

If you are a new homebuyer, you should get professional help before making such an important purchase. There are all sorts of traps that homebuyers can fall into, and the counsel of a professional like Marnie Bennett can help you stay clear of these traps.

If you are a first-time home buyer, you should do your research. Read articles like these to get a sense of the best ways to go about your search. Combining this self-education with the hands-on advice of a professional will ultimately give you the best outcome with your search. The help of a real estate professional will give you options. When you select a home that you are interested in, the professional will help you get the best deal.

Real estate broker Marnie Bennett has helped hundreds of real estate buyers and sellers. She knows what it takes to get the best deal. If you are a new homebuyer, Marnie Bennett understands your unique challenges. By drawing on decades worth of experience, Marnie Bennett’s real estate services offer you the expertise that you need to find exactly what you are looking for.