Take the Home Test  

Take the Home Test

When you currently own a home and need to sell the current home as well as purchase a new one, the planning of the sale and purchase can be best managed with diligent consideration of the following items:

  1. Realistically pricing your current home based upon the comparable homes that have recently sold in a similar location with similar amenities and upgrades. We are experts in this area!
  2. Do not price your current home based upon what you would like to purchase. The need for money does not increase value.
  1. Consult a mortgage loan officer to understand your financing options based on your net sale proceeds and what you qualify for. You should know your options regarding interim financing and conventional financing.
  1. Understand the current marketplace:
    • What is the average time on the market for homes in the same price range as yours?
    • What is the average time it takes to go from contract to closing?
  1. Use this time as an estimate of the time you will have to find your perfect home. Start looking as soon as you place your current home on the market.  When you find your perfect home, make your offer contingent upon the successful closing of your home (that is under contract, we hope!).  Keep in mind that in a tight market most sellers will be reluctant especially if the home you place an offer on have multiple offers.

Although it might be difficult to imagine purchasing a new home until your current home is under contract and contingencies have been met, you will be in a better position to negotiate with a new seller if your current home is priced correctly.

Team Pinto will keep you up-to-date on the inventory so that you will always know when the perfect home is available.



Home Ownership Advantages Compared to Renting

I wanted to show you what renters have learned when they graduated from my “Buyers’ Assistance Program.”  There are several reasons that home ownership can offer advantages compared to renting:

  1. You accumulate wealth by paying down debt in the form of mortgage payments, whereas rent pays down a landlord’s mortgage.
  2. Your credit rating improves when you own a home.
  3. Over time, your net worth increases, allowing you to establish a preferred status with your bank and giving you the opportunity to make other major plans, like owning your own business.
  4. If you become unemployed, the landlord still expects the rent payment; by contrast, most mortgage lenders will work with you and perhaps add the missed payments to your mortgage.
  5. Owning your home allows you to choose how to live.
  6. If you decide not to live in your home, you can choose to sell and move elsewhere, and over time you will have accumulated equity to take with you – tax free!
  7. If you require short-term loans, lines of credit, or other revolving credit arrangements, home ownership will provide greater opportunities to obtain those credit arrangements.
  8. The wealth you accumulate by owning your home is tax free, since equity in your principal residence is not a taxable gain.
  9. There is a program available for homeowners only, which provides job loss insurance to cover the mortgage payments while you look for work and get back on your feet.
  10. A mortgage payment can be fixed for up to 30 years.
  11. You can control $100,000 of an asset for less than 10% of that amount in cash.
  12. Pride of Ownership: you will be amazed how the small repairs that used to bug you in your rental are now a joy when you own your own home.
  13. Sweat equity: what investments let you add value by painting, landscaping, cleaning, and remodeling a kitchen?
  14. Retirement Plan: every mortgage payment and every percent of inflation adds to your retirement.
  15. You now have an estate to pass on to your loved ones.
  16. You become a respected member of the community.

If you would like even more reasons why a purchase could help you, please do not hesitate to call or email for a personal appointment for a complete, chronological, step-by-step plan to achieve the benefits we talked about in this letter.  We have done it for many others just like you.

Call today:

Paulo Pinto, REALTOR®