Is Buying a House Worth It? 9 Reasons Why the Answer Is: ‘100% Yes!’

Buying your first house takes gumption. You resist splurging on Insta-worthy vacations to save for a down payment. Then hold off on converting those savings into stocks for the latest plant-based start-up your cousin raves about. You fight every temptation in hopes of joining that glorious homebuyers’ circle, and just before you pull the trigger, you stumble upon an infographic telling you renting is actually cheaper — is this struggle even worth it?

The short answer is: yes. We’ve got a long answer for you, too (it even touches on the perennial own vs. rent debate). Here are nine benefits to homeownership that make buying a house totally worth it:

1. Grow with a local community

When you buy a house, you’re not just another tenant swinging through a rental’s revolving door. You’re tethered to a location, tied to a community.

“Buying a home gives you roots. You meet a

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6 Critical Things to Look for When Buying a House

While everybody knows that buyers shop based on price range, there are many additional considerations to make when looking for a home. And, most buyers end up refining their criteria once they start touring homes. Ultimately, your home criteria should depend on your personal lifestyle and needs. Regardless of what you’re looking for, here are some general rules you should follow to make sure you’ll be happy with the home you buy for the foreseeable future.

What are the top features buyers look for in a home?

Today’s buyers are juggling many different priorities when it comes to buying a home, but according to the Zillow Group Consumer Housing Trends Report 2019, here are the features that rank as very important or extremely important to most buyers.

Neighborhood wants and needs for buyers

  • Safety: 82% say a neighborhood that feels safe is very or extremely important
  • Walkability: 60% say it’s
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How does buying a HUD home work?

A HUD home is a one to four unit home (or condo) that was financed
with an FHA insured mortgage. When an owner fails to make the monthly
mortgage payments, the mortgage lender forecloses on the homeowner.
After the bank takes back the home, the bank will seek reimbursement
from Federal Housing Administration (FHA) on the loss. In other words,
HUD/FHA will buy out the bank and take ownership of the house. FHA is a
division of the Department of Housing and Urban Development, also known
as “HUD”. After HUD takes ownership of the home, the FHA will attempt to
sell the property through an online auction. FHA foreclosed homes are
commonly called “FHA HUD homes”.

Here are the steps to buy a HUD home at the HUD home store:

Step #1 – Get pre-approved!

When you make an offer to HUD for a FHA foreclosure, you
are required to

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Ultimate Checklist for Buying a House

Most Americans consider buying a house as a significant life goal. Homeownership offers stability and a sense of security and safety and for some, it is an essential rite of passage into adulthood. As you pursue your dream of homeownership, it’s crucial to understand the many moving parts to the home buying process and protect yourself from the risk of becoming “house broke.” This ultimate checklist for buying a house will help you cover all your bases.

buying a house checklist

1. Know how much you can afford

Determining how much house you can afford is the first step in the buying a house checklist – getting this number set will relieve stress in the long run. Start with your current budget and calculate your monthly income and expenses. Don’t forget to take into consideration the price variance in different locations. For example, a home in Anchorage, AK has a lower median sales price

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10 Best-Kept Secrets for Buying a Home

Buying Secret #10: Keep Your Money Where It Is

It’s not wise to make any huge purchases or move your money around three to six months before buying a new home. You don’t want to take any big chances with your credit profile. Lenders need to see that you’re reliable and they want a complete paper trail so that they can get you the best loan possible. If you open new credit cards, amass too much debt or buy a lot of big-ticket items, you’re going to have a hard time getting a loan.

Buying Secret #9: Get Pre-Approved for Your Home Loan

There’s a big difference between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Anybody can get pre-qualified for a loan. Getting pre-approved means a lender has looked at all of your financial information and they’ve let you know how much you can afford

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What Buying a House “As Is” Really Means

house

Moviestore Collection/Shutterstock

You found a house in your dream neighborhood. It has the right number of bedrooms, bathrooms and a nice backyard. It’s just what you were looking for.

Then you learn it is being sold “as is.” That house that seemed so perfect now seems a bit frightening.

Follow these 100 tips when buying a house.

Selling as house “as is” basically means the seller will make no repairs or improvements and is selling the house in its current condition, according to realtor.com. In many cases, the houses are “as is” because the seller can’t afford to make the improvements.

Learn how to inspect your home like a home inspector.

“Once you buy that house, it’s yours and you’re pretty much stuck with whatever decision you made, so you really need to be very educated and thorough about what you’re doing,” said David Tamny, owner of Professional Property Inspection

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First-time buyers, here is your buying a house timeline

Timing is crucial when buying a house. Getting it wrong could mean paying on a mortgage when you still owe rent—or living out of a hotel if your closing runs longer than your lease. Here’s a timeline for what to expect from your home-buying journey so that you can get it right.

How long does it take to buy a house?

The buying a house timeline can be tricky to predict. It typically takes anywhere from four weeks at the low end to six months (or more) to shop for and close on a house. But it can be quicker if you make a strong offer right away in a fast-moving market or slower if you have a hard time finding just the right place or keep getting outbid.​ The shopping step is one of the biggest house-buying timeline variables. According to Zillow research, about half of buyers searched for

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Buying a House with No Credit

buying a house with no credit

By Zina Kumok, Financial Health Counselor, Credit Counselor

If you listen to certain financial experts, it’s easy to get the wrong idea about credit. Many money gurus – most notably Dave Ramsey – advise consumers to avoid credit cards and other forms of personal debt.

That might seem responsible enough, until you start shopping for a mortgage with no credit history and have to overcome that barrier.

Thankfully, it’s still possible, though not necessarily easy, for someone without credit to secure a mortgage and buy a house.

Here’s what you need to know.

In this article

What does no credit mean?

In a world of student loans, auto loans and credit cards, it’s hard to imagine not having any debt. But it is possible to live with no credit, especially if you’re young and have avoided loans your whole life.

If you’re debt-free and use debit cards instead of credit

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Why Buying a Home Is a Smart Investment for Millennials

Millennials are swarmed with investing advice – start saving early, take advantage of your employer’s 401(k) match and for heaven’s sake, dump those high-interest credit cards! But for many who are looking to build a retirement nest egg, financial advisors say purchasing a home is one of the best investments millennials can make.

“Buying a home is one of the smartest financial decisions you can make as early as your 20s,” says Riccardo Ravasini, managing director of Rava Realty, who handles properties in New York and Florida, “because it is inflation-protected and a physical asset that doesn’t disappear like stocks can do.”

Nationwide, millennials have been reluctant to buy homes for various reasons, including a volatile job market, high student debt and the delaying of life events, such as marriage. The rate of homeownership for millennials dipped to a low of 36.2 percent in 2014, according to U.S. Census data,

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