Buying a home? Avoid making these costly errors
Buying a home? Avoid making these costly errors
If you’re thinking about buying a home, this might be the best time to do so. The housing market is still going strong and millennials are a big factor.
Total mortgage application volume surged 25.5 percent on a seasonally adjusted basis for the week ending Oct. 2 compared to the previous week, according to the Mortgage Bankers Association. Applications to refinance and to purchase homes are now at the highest level in five years.
Millennials represent the largest share of homebuyers, according to an analysis by the National Association of Realtors. Nearly one-third of all homebuyers, and 68 percent of first-time buyers, were 34 or younger last year. And those numbers are expected to grow.
Buying a home or know someone who is? Here are three common, and potentially costly, mistakes to avoid.
Owner Financing carries with it great benefits for both the buyer and seller. But as with anything, there are down sides as well. It would behoove both parties to be as educated as possible about owner financing before entering into any contractual agreement.