Tips For First-Time Home Buyers By A HER Realtor In Pataskala

A home is a place where you and your family will build life together. Buying this special abode is one of the biggest decisions you will ever make in life. More than the big money involved in this significant transaction is the commitment that you are about to make in this particular place.  Is this the home where you want build roots and grow?

Buying a home clearly is a decision you should not rush into. Your parents or friends may keep on asking when you would buy one but forget about the outside pressure. Think about this move carefully before finally deciding.

As your guide, a reputable HER realtor in Pataskala shared tips below.

Invest in a home that you can afford.

This means considering not only your current finances but how much can you afford for the long run. Most first-time home buyers are excited about investing and they decide on affordability based on their current finances. This however is a big mistake as change can happen. Your budget can be altered because of many reasons like having a new baby, cost-cutting at work, slow business, economy downturn, etc. These factors could impact your income and make your mortgage suffer.

Understand what it means to get qualified for a mortgage.

This process will let you know how much of your income now will go towards your monthly payments. If you can just dedicate around 28 percent of your gross monthly income upon computation, most likely you will get qualified for a mortgage. Beyond this figure is already a risky purchase and would mean tight for your other expenses. So it is wise to get pre-qualified for a mortgage and learn more about your limitations or buying power.

Deal with your dream home expectations.

It is important to manage your expectations for your first home. Your budget now may not accommodate your dream home. But don’t be discouraged because your first home does not necessarily mean your last. You can buy in the future a home will all the features that you want. For now, a home in a good location at the right price is a good start of investment.

Work with the best real estate agent.

A reliable real estate agent will protect your best interest and work to your advantage. Hiring one will ensure that your home purchase transaction will go smoothly. This professional will do all the hard work for you. If you are buying home for the first time in Ohio, A Pataskala real estate agent can help you find the right home and buy the right investment.

Looking For Granny Flat Designs

For many people, making use of extra space at home is a very smart move as it does not only improve the overall beauty of the home but also it creases its value. One way to do this is building a granny flat.

However, it can be really confusing to decide which from the many granny flat designs to choose. Since a granny flat is built for a reason, it is very important to know the design that will fit to your preferences.

Choosing the design of your granny flat actually depends on your reasons for building it. You may have decided to build it for your parents, your kids or just plainly for your own hobbies and interest. Just make sure that you choose the right design. You can actually seek help from granny flat builders to know how to improve that extra space in your home.

Granny flat designs can vary greatly from place to place according to the experts from Granny Flat Engineers but generally, a granny flat has to be smaller than the original house in the property. Some granny flats come with one or two bedrooms, one bathroom, and an open-plan kitchen and living area. Others can have up to three bedrooms and two bathrooms instead of one, plus high ceilings so that the unit can benefit from more space and light.

Usually, it can take only about 8 to 12 weeks for them to be built because they are smaller as compared to regular houses.  If you're eager to get one built on your property, it's best to get in touch with a company that specialises in building granny flats.

How Tax Reform In Australia Will Affect The Property Sector

Released every 5 years by the Australian Government, the Intergenerational Report shows demographic and economic changes in country. It details an assessment of the long-term sustainability of current policies and the impact on economic growth, public finances and workforce of the changes in population size and age profile in Australia over the next 40 years.  This report provides citizens an insight into some of the challenges that they will face in the coming years and the decisions they need to make now.

Without having to rely on increased corporate taxes, the report clearly states that a better tax system would help Australia to take advantage of global opportunities. REIA (Real Estate Institute of Australia) has called on the government to commit to substantial tax reform following the release of the 2015 Intergenerational Report. The report shows that if policies and taxation arrangements remain unchanged, the gap between expenditure and revenue will continue to expand. With a responsible tax reform, the Government will be able to achieve its goals and make sure that all Australians can continue to live a prosperous and healthy life.

Releasing its 2015/16 pre-budget submission, Real Estate Institute of Western Australia (REIWA) calls for tax reform and cautions against targeting the property sector with increased taxes. While tax reform can achieve Australia’s aim to improve productivity and increase workforce participation as indicated in the report, REIWA urges the State Government to lower the threshold which sees most first home buyers exempt from the tax and not to lift stamp duty rates for buyers.  Know that property owners in Australia pay for land rates, water rates, stamp duty, and Land Transfer Charge. Before purchase, prospective buyers can get details about these rates from their local council.

The coming years will prove how tax reform will affect the property sector. Will tax reform help real estate market thrive better with the release of the Intergenerational Report?