Patrick McCarthy Real Estate Blog – Advice Category

If you’ve caught the new home bug, now could be a good time to make a purchase – especially as mortgage rates continue to linger at an all-time low. But as you consider the wish list of ideal features in your next abode, you may be weighing out whether building a home or purchasing an existing one would be best.

Overall, closing costs can typically range from 3% to 6% of the purchase price. So, if you’re buying a home that costs $300,000, you can anticipate that the closing costs will be between $9,000 and $18,000.

While the country has been at a near standstill for most of 2020 due to the Coronavirus outbreak, right now could still be a great time to sell your home. In fact, as compared to earlier in the spring – when the pandemic was initially picking up steam – the real estate market is now seeing signs of a strong rebound.

One of the hardest hit sectors of the economy during the COVID-19 pandemic has been housing. With the substantial number of job losses suffered from coast to coast (and worldwide), millions of people are having trouble keeping up with their mortgage payments.