Why should I buy a home, my rent is low?

    Why should you buy a home?

    It is important, first of all, to decide why you want to purchase a home.  For instance, owning a home offers several advantages over renting.  It can be an investment, comes with many tax advantages, offers fixed housing expenses, gives you control over y0ur environment and provides several other benefits such as pride of ownership, security and independence.

    More than just a place to live, the real value of owning a home is that real estate may increase in value over a period of time.  Historically, homes appreciate in value and a profit can be made on the sale of your home.  With traditional “principal ad interest” loans, each monthly house payment you make goes toward paying off your loan and earns you a greater percentage of, or equity in, your home.  Monthly rent payments earn you no equity and cannot later be recovered, as mortgage payments can, when you sell.

    Should I use a Real Estate Professional to find my home?

    There is no law in Ohio that required that you use a real estate agent, but a licensed real estate agent can provide a wide range of services and advice to assist you with the home buying process.  In addition to finding available properties, the agent may be helpful in other ways.  A good agent will help you with all the steps of your real estate transaction.  At RE/MAX Elite, we are well acquainted with all the important things you’ll want to know about a neighborhood you may be considering, such as the quality of the schools, the number of children in the area and the safety of the neighborhood.  We can supply you with information on real estate value, taxes, insurance, utility cost and municipal services and facilities.  All the financial details that can seem so mind-boggling to first-time home buyers is something that we deal with on a daily basis.  We’ll help you determine the price range you can afford, explain the advantage and disadvantages of different types of mortgages and guide you through the paperwork.  We will prepare an offer to purchase and help with negotiations.

    How do I choose a real estate agent?

    Most people choose an agent on the recommendation of family and friends.  The Ohio Association of REALTORS and The Columbus Board of REALTORS each maintain websites that also provide a great deal of useful information.  Once you have found a real estate agent you are comfortable working with, she will provide you with a Consumer Guide to Agency Relationships.  This brochure is provided to help you understand all of the possible roles of your real estate agent in your real estate transaction.  It is also intended to help you understand the role of other agents who may be involved in your transaction.  This form is required by the state of Ohio and goes not in any way constitute a contract between you and the agent.  Read this form carefully.

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