Special Guest Round-up: Making the Best Investment
Want to keep costs low and make a good investment when buying a home? There are so many parts to the home buying process, so we talk with five partner vendors as they share their expertise.
On today’s episode of the podcast, we chat with five special guests who share their insights on the real estate market. From keeping costs low to investing in your future, there’s a lot to keep in mind when buying or selling a home.
On the mortgage moment, Jonathan shares with us what mortgage insurance is and how often people have to pay it. Can it be avoided? Mortgage insurance is insurance that protects the lender should you foreclose on the property. People typically have to pay it if they are putting less than 20 percent down on a conventional loan.
For our attorney spotlight, Craig tells us how much it costs to hire a real estate attorney. Everyone wants to keep their costs low, so what kind of fees should you expect? In the Triangle area, it’s a flat rate fee and ranges from $850-$1,150 depending on the law firm you work with. This covers a number of things related to the closing. You want to be sure to have a good attorney that you can trust to get you through the process.
Speaking of costs, how much money should you plan on setting aside to stage your home to sell? This really depends on the seller and their home. A stager can help you determine what to prioritize when staging your home as it relates to your home and the neighborhood it is in.
What issues pop up with older homes during the inspection? A lot of times DIY-ers will get inspired by home improvement shows and try to make a change on their home and leave defects behind. Newer homes typically have fewer defects and should be up-to-code.
Finally, for our buying blitz, how important is it to consider the resale value of a home? This is key when buying a home because no one stays in their home forever. Talk to your buyer’s agent about what you’re looking for and get their feedback about what it might be like to sell that home in the future. Whenever you buy a home, you want to buy a sound investment for your future.
Listen to the entire episode or skip ahead to a particular question using the timestamps below.
1:13 - What’s mortgage insurance like?
4:11 - How much is the real estate attorney fee?
6:00 - How much does it cost to stage a home?
7:36 - What home issues are found in older homes?
9:55 - How important is it to consider the resale value of a home?
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