Patrick McCarthy Real Estate Blog – Advice Category
Patrick McCarthy Real Estate Blog – Advice Category: Blog archive posts from the Patrick McCarthy Real Estate Blog that were categorized as Advice.
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.
With mortgage rates still at historical lows, financing – or even refinancing – a home can be enticing. When it comes to borrowing money for a home, many people automatically default to a 30-year mortgage – primarily because the payments are stretched out for a longer period of time, which can equate to a lower dollar amount that is due each month.
With the year 2020 now in the rearview mirror, its almost time to start thinking about filing your income taxes. If you have recently moved – or if you plan to do so in the future – you may find that there are some tax-related benefits on both the buying and selling end of the deal.
As the seller of a home, one of the sweetest sounds you can hear from your real estate agent is, “You’ve got an offer.” This is particularly the case if the buyer is well-qualified, and a final price is agreed on by both the selling and purchasing parties.
It is a fact of life that appliances and other home systems – like air conditioners, water heaters, and sinks – will eventually have to be repaired or replaced. And, depending on what is needed, the cost could set a homeowner back by three-, four-, or possibly even 5-figures.
With the 2020 presidential election quickly approaching, it is sure to be one that is remembered for many years to come. Oftentimes, election results can have an impact on the stock market. But what about real property values?
With mortgage rates still at historical lows, it can be tempting to refinance your home loan – especially if doing so will reduce your monthly payment, allow you to pay off your balance much sooner – or both.
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.