A Homebuyer's Trifecta

Timing, as they say, is everything.

There is only so much within our control so when it comes to making decisions, the best we can do is pay attention to outside factors, be purposeful in our thought process, and as a result be informed decision makers. This is especially true when making major decisions such as buying a new home. Timing really is everything whether it has to do with being prepared for a new addition to the family, downsizing after kids go off to college, or taking advantage of financial incentives that are available to lighten the load. Right now is a unique time to buy a home considering everything buyers have going for them.

One, the homebuyer tax credit offers up to $8K to first time homebuyers and up to $6500 to existing homeowners who have lived in their home for 5 of the last 8 years. Congress has approved this credit program for any homes that are under contract by April 30, 2010 (and closed by June 30, 2010) and we cannot expect it will be extended again. This site will give you some good info and more specifics.

Two, interest rates are as low as we've seen them in decades - currently hovering just under 5% for a 30-year fixed mortgage. We can only expect them to increase in the next year. This article from CNBC looks at the rate situation and what we might expect in 2010.

Three, home prices are at record lows. It's a buyers' market.

Of course, to take advantage of these types of incentives it has to be the right time for you and your family to make a change. If it is something you've been considering, now might be a good time to talk to your real estate or mortgage professional about what your options are and what the overall picture would look like if you were able to take advantage of everything that's out there right now.

Bigger Isn't Always Better

Earlier this year, my husband and I decided that as much as we liked our home, we wanted to make a change. We had built our "dream home" three years earlier and it had everything we wanted. Everything except.... hmmm, what was it that was missing? We couldn't quite put our finger on it but something wasn't right. We talked about options and decided what we needed to do.... DOWNSIZE! Somehow in this country we have slipped into the mindset that bigger is always better, but we found that was not the case for our family. We missed the coziness of a smaller house and a more mature neighborhood (with trees!) and felt we were leaving a bigger environmental footprint on the earth than was necessary.

A few months after we put our house on the market, we moved into a smaller, older home. We have done some renovation and absolutely love it. It doesn't have as many bells and whistles as new construction, but we have added the things that are important to us and honestly, do not feel like we lost anything of value. The kids love it too ....and I'm talking about two teenagers who lost their own private bathrooms.

Most often when someone buys a new house, it's bigger than the one they are coming from. There's nothing wrong with that unless we just assume that's the only option. By not looking creatively at the options, we could miss a great opportunity. The downsizing experience has been nothing but positive for us... not only do we feel more comfortable in our surroundings, but we are living more sustainably and enjoying a much smaller mortgage payment!

Welcome!

Hello, and welcome to my blog. I am a professional Realtor in the Kansas City area and have set this page up to share my thoughts and opinions on buying and selling real estate. I love helping people achieve their goals, and a real estate transaction is one of the biggest decisions you can make in working toward your financial and family goals. I want to share ideas about how you can make the home buying or selling experience as easy and enjoyable as possible. Check back periodically or become a fan on my Facebook page Stacey Sells KC !