July 21, 2023

Many of the calls I received lately are from individuals looking to rent instead of buying. There seems to be some home purchase anxiety happening, and I dare to say this anxiety is caused by individuals who have very limited knowledge on what’s happening in the housing market. According Florida Realtors News positive inflation news caused the mortgage rates to drop from 6.96% to 6.78%.Mortgage Rates Drop After Positive Inflation News | Florida Realtors. Another plus is that inventory is up from last month. In northern Florida there are over 6000 residential properties for sale and 1495 for rent. Therefore if you are being fed negative information about the availability of homes in this area please reach out to a realtor who knows exactly what’s happening in our housing market, and has the expertise to assist you. There is a home out there that’s right for you, or for you and your family, so let us help you.

There are many individuals who are right now renting when they could be buying a home.

Things To Consider Before Shopping For A Home

To find the right home for you there are a number of things to consider before you go shopping. One important thing to know before you buy is, will this be a long term or short term purchase, and also:

• What type of home are you looking for? Why? For example, new construction, existing home, move-in ready, fixer upper, low maintenance, some maintenance, single story, two stories, single family, townhouse, condominiums etc. Do some research on each or contact your realtor for assistance.
• What must your new include? Type of neighborhood, yard size, size house in square footage, # of bedrooms, # of bathrooms, mature trees, no trees, with/without appliances, carpet/no carpet, in-law suite etc.
• In what location do you desire to live? City areas, suburbs, rural areas.

First-Time Homebuyer Programs to Help You Afford a Mortgage

There are several programs that can assist first time home buyer to purchase a home. The first time homebuyer programs are not limited to individuals who have never purchased a home. Some of the criterias are:

• Neither you nor your spouse has owned a house in the last 3 years.
• Recently divorced individuals who had joint ownership in their last house.
• Income cannot exceed the required limit.

First time homebuyers programs include VA Loans, USDA Loans, FHA Loans, Downpayment Assistance programs offered by some cities, and grants offered by the National Homebuyers Fund.

The Home Buyers Calculator. https://www.realtor.com/mortgage/tools/affordability-calculator/?iid=int-rdc_firstTimeBuyer_landing