After deciding to sell your home, you need to think how to go about it. Should you hire a real estate agent or should you not? This is something most people battle about. Both options have their benefits and drawbacks. You have to weigh these and decide what to do.
No paperwork needed. The real estate agents will do the work for you.
It saves a lot of time by handing over the responsibility to a real estate agent. You don’t need to worry about touring to find a good home.
You don’t need to worry about fixing or upgrading the house. The real estate agents have several professional contacts from landscapers to contractors. They will make your work done.
Having a real estate agent by your side means you have an expert with you all the time.
You don’t need to conduct any negotiations. The real estate agents will do it for you.
The commission of a real estate agent can be high, especially if the agent is experienced the rate will be higher.
Most agents charge about 6% of what you have to pay for the property.
Agents have to deal with many clients. So, your home may not get all the attention and may miss out on some good properties.
You become dependent on the real estate agent. You have to go with the agent’s time line and preferences at many times. Also, during negotiation, you’ll always have a middle man, which may be undesirable at times.
You hardly get to know which one is a good agent and which is a bad one. In case, you get into the hands of a bad agent, you might incur a lot of financial damage.
Utah is a very attractive place to invest. In fact, it’s position is 9th among all the other states of USA for real estate business. There are several factors associated with Utah securing this top spot.
#1 – The older residents of Utah are renting their homes now. This wasn’t the case before. The real estate crisis that took place had made many residents of Utah out of their homes. Huge scope has been created for investment opportunities.
Salt Lake City is one of the major attractions. There are lots of single houses and apartments available for renting. The rents are also low here. Developers are already planning to invest on 6,000 rental properties.
#2 – There has been a significant increase in the job market. The growth is, in fact, more than the national growth. Most of these jobs pay moderate wages which leads people to rent houses. So the rental market has increased in Utah over the past years.
#3 – During the real estate crisis period, many people incurred huge losses when selling their house. Seeing these, the new young generation, of age between 21 and 45, are willing to rent rather than own a house. This allows them to be mobile and financially solvent as well.
Many jobs now require you to relocate. So if you rent instead of buy a house, you won’t need to worry about the mortgage payments and other responsibilities.
#4 – Though the rental business has increased during the past years, ownership is still considered better. Neighborhoods where owners live tend to be better. Their lifestyle is better; less number of divorces, better exam scores by children, etc.
Utah has huge potential for real estate business. More investors are looking forward to invest more in this region in future.
Buying a home is a very important decision of your life. If you are well prepared, then you can easily overcome the obstacles and will be able to complete a successful transaction. Here are some tips for the homebuyers.
#1 Good credit score
You need to have a very good credit score in order to buy a home. Your mortgage depends on your credit score. Get hold of your credit reports and try to overcome any problems that you have. If you owe any money, pay it back. Buying a home takes at least six months time. This time is enough for you to boost up your credit scores.
#2 Get your mortgage pre-approved
If you have a good credit score, then you won’t have any problem getting a mortgage. Some financial institutions provide pre-approved mortgage just by looking at your credit score. Pre-approval of mortgages saves a lot of time. It also helps you to specifically look for properties that you can afford.
Place a bid according to what you think the home’s worth will be and what you can afford. Have a look around and see the prices of other similar homes. Find out what expenditures you need to make on repairs to make the home livable. Also look into whether the owner has cleared all the taxes or not.
#4 Use the Internet
There are very useful tools on the websites of real estates which help you to locate and view your desired property. Online calculators are also present to help you calculate your mortgages and interests. These tools help you to decide on your budget.
#5 Know all the expenses
Buying a house is a big investment. It’s not only the cost upfront, but also the expenses associated with moving into the house, which includes appliances, furniture, repairs, etc. These all add up to the total cost.
If you’re still worried about buying a real estate property take a look at this infographic with 10 other things that you should consider. Hope you like it!