How Much Money do I need to buy a home?
How Much Money Do I Need To Buy A Home?
One of the first questions first time homebuyers always ask is how much money does it take to buy a home? Short answer: $1,000,000….just kidding, that should get the old heart beating.
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Top 3 Real Estate Deal Killers In Utah-how buyers can avoid them
Top 3 Real Estate Deal Killers In Utah-how buyers can avoid them
Pretty explanatory right? We see real estate deals come to fruition (like that word, makes me seem smart) all the time, but occasionally we have the dreaded “DEAL KILLER” that rears its ugly head and the transaction falls apart.
Read MoreAh, Utah Is Gettin Good For Real Estate!
Ah, Utah Is Gettin’ Good For Real Estate!
This weeks podcast from Utah Association of Realtors has some good news! Watch it…it’s only 2 minutes!
Read MoreWe Think We’re Going To Believe Grandpa
Now, we would love you to believe that we write EVERYthing that goes into this blog…but in this case, this post comes from the KCM Crew at www.keepingcurrentmatters.com and it has such great thoughts, we are reposting with thier kind permission.
Read MoreCity Grants For 1st Time Homebuyers
One of the hardest parts of buying your first home is getting the money you need for down payment. Usually 3.5 % for FHA loans and 5-20 % for conventional. On a $200,000 home that is $7000 to $40,000 depending on the type of loan you have. Pocket change sez you…ha ha sez I (no, I don’t know what that means, I just wanted to be a pirate for a second).
Now if that is scaring you off of buying a home, don’t cry little buckaroo. There are programs available especially for first time homebuyers that will help you with the money for down payment that you need. These are in the form of:
- Utah Housing- a state run program that will grant up to 103% financing of sales price to assist first time homebuyers with down payment and/or closing costs. There are income limitations and also debt to income limitations, plus credit score in the mid 600s
- City Grants- There is grant money available in various cities throughout the Wasatch Front that will grant you up to 5-10,000 in money toward down payment and closing costs. Again, there are restrictions on price of the home, debt to income, and now most cities have criteria on credit scores as well. These cities also have different criteria on their grants as well. Some cities require you to make an offer first, then present the REPC (purchase contract) as part of the application process. Some cities require you to apply first, and look after you have been accepted.
Salt Lake County Homes For Sale that may qualify for grant money
Just remember that not all cities have grants for first time homebuyers , and the cities that do have down payment 
assistance grants, are limited and sometimes run out of money.
So, if you want a list of cities and the criteria they use for grants in the Salt Lake Valley, email us at loves@saltlakehomefinders.com and we will send a list out to you.
And, as always, if you have questions, text or
Call Us
801-819-9005
Ciao!
Top 10 Reasons To Buy vs Rent
Top 10 Things You Can Do With A Home That You Can’t Do In An Apartment
Now, I know that you get bombarded with all the reasons to buy a home rather than rent, and most of them are legitimate and logical, but there are some other things for you to consider. So….here is
My Top 10 list!
10. Build an under the stairs play area for your kids. I can’t tell you how cool that is to watch my grand-kids playing in the little house that their dad built them under the stairs in their home.
9. Have a naked room. Ok, we stole this from “Failure To Launch” but you probably don’t have the room to Have a naked room in your apartment if you really wanted one…now Do You?
8. Rearrange your floor plan. Now come on, how many of us have said…if we could just change this wall, knock it out, knock it down… For all you DIY’ers, you can indulge your creative side in your own home, but in an apartment….not so much
7. Build in a basement to create more space. If you are running out of space in your apartment, how many times has your Landlord allowed you to punch through to the apartment below?
6. Paint the kitchen orange….or yellow….or purple, with no repercussions. Well, not NO repercussions. I once painted my kitchen orange as a project when Steve was out of town. We had a…well…discussion afterward, he just has no imagination.
How To Buy A House And Get The Money To Fix It Up- Inquiring minds want to know
5. Keep your rent the same…for 30 years. You know how at the end of a lease, you either sign another lease for a little higher, or go month to month for a Lot higher (cause after all apartment owners are there to make money, not just provide housing for folks). Your mortgage will never vary (except for insurance and tax increases or decreases but even then its usually only a buck or 2) and at the end of 30 years…or sooner if you are prudent….you own the home outright. Can you say that about an apartment?
4. Sit by your own cozy fireplace on Christmas Eve and watch the lights on your Christmas tree. Some apartments have fireplaces, but most don’t, and especially not in an extra family room. Christmas trees are well, universal, but hey, I think they look so much better when you Own the home too, but again, that’s just me.
3. Have a party in your back yard, invite who you want, and not have to worry about the 10pm “silence” rule. Now, do you have to keep it down somewhat to be a good neighbor? Yes… but ….you can always Invite them to the party, then no more problem!
2. Tax deduction! Whoo Hoo…more money in Your pocket every April 15th. If you are used to receiving a refund each year…chances are you will Really like the tax deduction.
1. Plant roots. You can plant a garden too (which is a bonus point 11…can’t do that too much in an apartment), but you have a permanency in a home where you can build your place in a community that doesn’t change every 6 months. If you plan on having kidlets, or have them already, there is nothing like a stable neighborhood and community to give them the best chance of growing.
Affordable Homes In West Jordan
There you have it, my top 10 things you can do with a home that you can’t do with an apartment. Now, to get you started, check out our section for first time homebuyers….First Home In Salt Lake, and call or text us at 801-819-9005 with your questions or to get started on your journey to homeownership. (ok, kind of cheesy, but you get my drift!)
Just contact us, we will be happy to help you in any way we can! loves@saltlakehomefinders.com
Til later, Ciao!
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