How Important Is the Age of a Home When Buying?

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Today, we'll talk about the importance of the age of your home when buying. You may not want an older home because you are looking for a newer neighborhood, or you may prefer an older neighborhood with mature trees. Older homes also have different character than newer homes.

First, you need to know that the age of the home doesn't affect its appreciation. You may find a neighborhood that is depreciating rapidly, but those neighborhoods are far and few between. 

Next, any home you buy, you can upgrade. You may need to make changes for energy efficiency, layout, or other updates. I have seen older homes updated with new windows or roofs to make them more energy efficient. Sometimes making these upgrades yourself makes your property more energy efficient than new construction homes.

Regardless of the age of the home, you need to get an inspection. The inspector will be able to tell you about all the idiosyncrasies in the home so you have a clear idea of what's going on with the house from the foundation to the roof. 

My appeal to you is to go with what suits your personality. Don't let the fact that a home is 50 years old keep you from buying it. The neighborhood should play a bigger factor in your decision than the age of the home.

If you have any questions, give us a call or send us an email. We look forward to hearing from you!

How to Build Wealth from Real Estate

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Real estate is a fantastic way to build wealth. People have been doing it forever, and real estate investments are actually some of the best long-term investments that you can make.

One of the first steps you need to take is to own the home you live in. Once you pay off your mortgage, you'll be in great position to invest in another property. Interest rates are incredibly low right now, so this would be a very good time to invest in a home. 

If you're worried about being in debt because of a new home purchase, I wouldn't think about it too much. Mortgage debt is the only good debt that you can have. Homes do appreciate, so you can bank on that if you're worried about stepping too deep into mortgage debt. 

Equity can be built pretty quickly after you have purchased a home. It can take five or maybe six years, but after this you can ride a nice wave of appreciation.

If you don't own a home, I would contact a lender and forge out a path for home-ownership. It's an incredible way to stabilize your family's financial future. 

My partner, Trever Kerr, is an excellent lender in the area. You can call him at (972) 822-7408. He is extremely consultative, and he can show you exactly what you need to do in order to purchase a home. 

If you own a home right now, I invite you to give me a call to talk about investing in more real estate. Interest rates are low right now, so waiting to buy will cut into your purchasing power significantly.

Please don't hesitate to contact me in regard to Mansfield real estate. I look forward to speaking with you!