Should I buy, instead of rent?

Plain and simple a home is an investment. When you rent, you pay your rent each month and the money is gone forever. However, if you own your home, you can deduct the cost of your mortgage interest from your federal income taxes, and usually from your state taxes. You can also deduct the property taxes you pay as a homeowner. 

Can I own home even if I have had bad credit, and don't have much for a down-payment?

There are many loan programs available for just about everyone. Your first step is to contact a mortgage provider to determine if you qualify or not.  Visit www.Redrose-Mortgage.com for more information. 

Should I use a real estate agent to assist me in buying my home?  

Using a real estate agent is a wise decision. Details involved in purchasing a home, can be mind-boggling. A good real estate agent can guide you through the entire process and make the experience a little more pleasant. They are capable of searching th multiple listing service for homes you'll want to see as soon as they are put on the market which can save a lot of time. 

What other costs should I take into consideration?

Well, you'll have your monthly mortgage payment in addition to your monthly utilities. If utilities have been included with your rent payment this may be a new expensse for you. You can ask your real estate agent to help you get information from the seller regarding how much utilities normally cost. In addition, you might have homeowner association or condo association dues. You'll definitely have property taxes, and you also may have city or county taxes.  

If I find a home I want, how much should I offer?

Take into consideration what the homes in the area are selling for.  Your real estate agent will be able to assist you with this. Also, is the home in good condition or will you have to make any substantial repairs or renovations? A professional home inspection is highly recommended.  Another thing to consider is how long has the home been on the market? The seller may be more apt to accept a lower offer if their home has been on the market for a while. How badly do you really want the home? The closer your offer is to the asking price, the more likely your offer will be accepted. 

If your offer is rejected, don't let that discourage you.  Negotiations commonly occur many times before an agreement is made. 

If you are considering purchasing a home, please contact our office and learn more about our Buyer Rebate Program with one of our agents.

           Louisville: 502-238-3899 or 888-895-4900 (toll free)          

Lexington: 859-278-3899 or 877-329-3899 (toll free)