We have thought of the most popular questions that deal with Real Estate. If you still have any other questions please don’t hesitate to contact us!
The Real Estate Agency Group is one of the largest and most successful teams of Real Estate Advisors in El Paso, Texas. The team was started by Jesus Villanueva. His main focus is to help his team members to achieve all their goals in the Real Estate Industry as well as their own personal goals.
You can find out by asking yourself some questions: • Do I have a steady source of income (usually a job)? • Have I been employed on a regular basis for the last 2-3 years? • Is my current income reliable? • Do I have a good record of paying my bills? • Do I have few outstanding long-term debts, like car payments? • Do I have money saved for a down payment? • Do I have the ability to pay a mortgage every month, plus additional costs? If you can answer “yes” to these questions, you are probably ready to buy your own house.
The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing. Owning a house has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a house also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own house, they are worth it.
Your house should fit way you live, with spaces and features that appeal to the whole family. Before you begin looking at houses, make a list of your priorities – things like location and size. Should the house be close to certain schools? your job? to public transportation? How large should the house be? What type of lot do you prefer? What kinds of amenities are you looking for? Establish a set of minimum requirements and a ‘wish list.” Minimum requirements are things that a house must have for you to consider it, while a “wish list” covers things that you’d like to have but aren’t essential.