Owning | The Yeatman Group Long & Foster Blog

Wednesday, January 04, 2017   /   by Becca Scott

Should I Buy a New Construction Home Over an Existing Home?

In our last blog, we discussed the top benefits of owning a home task planning tool. Now comes the question of, should I buy a brand new home, or an existing home? Do you want something with history, or a blank canvas?


Stats have shown that when buyers are given the choice of buying new or used, the majority will choose new. There’s just something about buying a home that’s not only been untouched, but can be made just the way you like it. And in today’s market, new homes are more affordable than you might think.


So to help you with this decision, we’ve listed some pros and cons of buying a new construction home.


Pros


Customization


Even if your not going for a custom home, you may be able to upgrade finishes from builder grade material and add your own personal touches before construction is complete.


Floor Plans


New homes offer modern floorplans. Today’s buyers want an open floorplan layout which means larger l ...

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  real estate, new construction, owning, benefits, homeownership, resale

Wednesday, November 16, 2016   /   by Becca Scott

Why You Should Get Pre-approved for a Mortgage

If you are absolutely serious about buying a home, it’s time to get pre-approved for a mortgage! This step in the process is recommended to be taken prior to starting your house hunt. We know that starting off with paperwork isn’t as appealing as jumping into the actual home search, but getting pre-approved will help you tremendously in your hunt! A pre-approval is basically a written statement from a lender stating the lender’s preliminary determination that a borrower would qualify for a particular loan amount. The loan amount and determination is based on income and credit information.


So why is it so important to have one of these before shopping around? Well you wouldn’t want to go to a grocery store without your wallet would you? Getting pre-approved will give you an accurate detail on how much home you can actually afford, which can help narrow down your search. You will also be a much more attractive buyer to sellers, because you have proof tha ...

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  real estate, owning, buying, lending, mortgage

Friday, October 14, 2016   /   by Becca Scott

WHAT ARE THE BENEFITS OF OWNING A HOME?

So you’ve thought about it over and over (and over) again, but you are still on the fence about whether you should continue renting, or start the process of buying your own home. Owning a home is part of the American dream, but it’s a huge step to make, we know! To help you with your decision, we’ve come up with the top 4 benefits of owning a home.





You Will Build Wealth and Equity Over Time





Equity is the amount of money you sell your home for minus what you still owe on it. The amount left over is your home equity. On each of your monthly mortgage payments, a portion of it goes towards reducing the amount you owe on your loan, which in turn increases your equity.


Over time as the interest portion of your mortgage payment decrease, the interest that you pay will eventually be lower than the rent you would have been paying. But instead of throwing money away when renting, you will be continually building wealth! 





Seve ...

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  real estate, owning, benefits, homeownership, midlothian, american dream, owning vs renting

The Yeatman Group Long & Foster
804.New.Home (804.639.4663)
1 Park West Circle #203
Midlothian, VA 23114

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