You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
Commitment is a scary thing whether it be committing to a new job, new car loan, a relationship or maybe moving across the country. Everyone struggles at some point in their life with commitment issues. One of the largest commitments a person can make is signing a 30-year mortgage loan, talk about a long-term relationship! If you are someone that has been thinking of purchasing real estate but are doubting the process and commitment terms, you are not alone! Personally, I was EXTREMELY nervous to purchase property at the age of 19. This was a huge commitment for me. I struggled with the thoughts of “what if I lose my job? Will my property go into foreclosure? Will my credit be destroyed?” These are all valid questions and should not be taken lightly. Below are the top fears people have when thinking of home ownership.
1. What if I Lose My Job and Can’t Make My Mortgage Payment?
This was probably my number one fear when I was a first-time home owner. If you are an independent person, go to work, pay your bills, provide a roof over your head for yourself and your family, then I’m assuming you have been paying rent to live on your own (unless you’re 30 years old and still living at home). Paying rent never goes away, so I thought to myself, I might as well make a mortgage payment every month at the same price as rent and gain some equity along the way. So far, with all my investments, I have gained approximately $1.1 million dollars in equity. Home ownership is an investment and can be extremely rewarding if done correctly.
2. Signing a Mortgage Loan with a Significant Other
No one goes into a relationship expecting it to end. When relationships are good, they’re great, but when they’re bad they are bad. Home ownership with another person is a huge decision and needs careful and concise decision planning before execution. Our suggestion is don’t sign a 30 year mortgage loan with someone if you are not married. Shit happens.
3. Will I Be Able to Keep Up with Home Repairs & Maintenance?
This is a great question! Home ownership comes with work. Maintaining landscape, furnace repair, AC repair, paint, drywall, garbage disposals, appliances, you name it. You are not alone in these concerns. Choosing the correct home can eliminate a lot of these stressors from the beginning. Purchasing a newer home with new furnace, AC, new paint etc. is always ideal and will buy you some time before having to deal with repairs. Your realtor (BADGER REAL ESTATE 😉) will be advocating for you during the inspection negotiation period to ensure you are covered in these departments. If you are not in the position to buy a newer home, your realtor (BADGER REAL ESTATE) has lists of sub-contractors that are trusted and a small maintenance team that can be of assistance to you.
4. Will my Home Appreciate?
Home appreciation is determined by the current market and location. The ever-changing market is difficult to determine for some brokers and should not be taken lightly. This is where you are investing your life savings! Having an experienced and knowledgeable realtor will give you the hard facts of where (or where not) to purchase your home. Our team is composed of professional real estate brokers and a certified home appraiser that follow the always changing market and have your best interest in mind. It is important to us that you are making money off your investment.
Do you have any other concerns about buying real estate? We would love to hear them and talk about what is stopping you from home ownership. We are here to help!
Are you interested in purchasing property but think you do not have enough for a down payment? Maybe you are stressed about the commitment issues that come with owning property? Well we are here to tell you that you can make that commitment and own a small piece of heaven in the USA!
The WA State Housing Finance Commission is a commission that offers mortgage programs to people that are first time home buyers or people that have their first lien. This is a low-interest mortgage program that was established in 1983 to help WA that make less than $100,000 a year. The WA state bond program is funded by the sales of tax-exempt bonds to investors. The proceeds are then used to create low-interest mortgages.
1. Education - Borrows must attend a home buyer seminar.
2. Pre-Approval - Borrows must be pre-approved for a home mortgage by a mortgage lender.
1. Single family residences only in WA state.
2. Must be town home, condo, single-family home or maybe a manufactured home.
3. Must comply with VA, FHA, Fannie Mae, USDA Rural Development guidelines
(206) 402-8518 Scott Badger
(206) 799-8389 Alayna Payne
We work exclusively with Caliber Home Loans to get you the lowest interest rate on your next mortgage loan.
Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!
You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.
We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.