1) Rent until you can stay put | Rent a property until you are sure you are staying in one place, do not forget the costs involved in purchasing a home.
2) Remember the 28/36 Rule | As Mortgage lenders are making loans more accessible, it is important to remember that housing should not take up more than 28% of gross monthly income, plus other debt, 36% or less.
3) Sellers, Fix up your home | There is nothing more appealing to buyers then a fresh coat of paint of a modern bathroom, do not be afraid to invest in your home before selling. “It pays back”
4) Ditch the 30 Year Mortgage | If you are obligated to make loan payments on a 15 year mortgage rather than 30 year, research shows your chances of early retirement are higher. [Stay tuned for our next blog ]
5) Pick the right neighborhood | Do not buy a bad home just because it is in a hot market area, hot areas become cool, buy in a cool area and wait until it becomes hot.
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Some of the content is courtesy of Time Magazine