The hidden costs every buyer should know about buying a home

Besides the purchase price of a home, there are other significant expenses that buyers should be prepared for. From closing costs to expenditures associated with home ownership, here is a breakdown of some of the most common costs to buy and own a home. Closing Costs: Closing costs typically range from 2-5% of the purchase price and are due at the closing of a real estate transaction. To put it in perspective, the closing costs on a $200,000 home could cost from $4,000 to $10,000. These one-time fees may include: Appraisal Fee: Estimated value of a home by a professional…. Read More

Advantages of buying a home versus renting

Home ownership may be more affordable and rewarding than you think! There are many advantages to buying a home and can be a better financial decision in the long run compared to renting. Here are some common advantages when you buy a home. Build equity and credit. When you buy a home, a primary financial benefit is that you are able to build equity and your credit. You can build equity in two ways: when the property value increases and when the amount of debt you owe on your home decreases. Besides home improvements and routine maintenance, property values can… Read More

Is condo living right for you?

Buying a condominium may be a great alternative as opposed to purchasing a home. Maybe you’re retired and wish to travel more; maybe you want to finally buy your own place to break free of renting. Whatever the reason, you should first consider what condo living entails to determine if it’s the best route for you. Here are some common benefits and drawbacks of condo living: BENEFITS: Less maintenance. A major perk of condo living is that most of the chores are done for you such as mowing the lawn, snowplowing, and exterior repairs. This means you can have more… Read More

3 Cost Myths Holding First Time Home Buyers Back

Make your dream of owning a home in Oconomowoc or the Lake Country area a reality!  Here is a list of truths behind the most common misconceptions about purchasing a home. In a recent article, Lew Sichelman, a seasoned writer for Inman who has 50 years of experience writing about housing and mortgages, reported that 38% of renters plan to buy a home in the next two years but myths about costs are holding them back. Here is a list of three  common misconceptions about purchasing a home and the truths behind them. Myth #1: You need flawless credit. Truth:… Read More