The Parker Group - 2018 is the Year to Purchase a New Home
Taking that step toward home-ownership is a big decision.
Dustin and Rachel Parker, with the Parker Group are here to give us a little insight on if that decision is right for you. We’re stacking up the pros and cons, and comparing renting a home versus buying a home.
Dustin says as a buyer, starting with your financial picture is the first step. Looking at credit scores and speaking with a lender to see if you can are qualified to purchase a home, before searching for a home and falling in love with a home you may not be able to afford.
Dustin also says best practice is putting down 20% on your home, but there are programs where people do not need to put anything down on a home. It’s critical to stick to your budget.
“You don’t want to stretch yourself too much and get yourself into a position where you’re not able to afford your mortgage or your electric bill because homes do come with additional expenses.”
Rachel and Dustin say that 2018 is a great time to purchase a home.
“Rent prices are going up significantly and the purchase price of a home is not going up at the same rate,” Dustin says. “So when you’re weighing your factors that might be something to consider. You may have more buying power than rent power.”
Rachel says as for Delmarva, they are seeing more out-of-state buyers wanting to purchase homes on the western side of Delmarva.
To learn more about the Parker Group, check out their website.