Hi there. It seems that you didn't get a good response to this question yet! Seeing as this was almost a year ago I'm not sure that my reply will do you any good but your situation is not uncommon to other first time home buyers so hopefully this advice will help someone. Aelfrice is flat out wrong. You CAN buy a home as an investment and for those who are handy - or have close relationships with people in the trades, etc. - you SHOULD buy a home as an investment if your life will permit it! I'm a young Realtor and I've been investing in the real estate market since 2008. The profits have been great and there's never been a loss. When you live in a home as your primary residence for at least two years and you sell it thereafter, you have no capital gain tax to worry about! So if you are up for the challenge you can build wealth in equity and leverage it to purchase the next, bigger and better home.
Lakewood had been an extremely hot market in 2014 and currently in 2015 it's even hotter. It's also a great place to live.
If your approval amount is based on both of your incomes then it's an excellent idea to stay comfortably under the maximum amount in case something goes wrong at work for one of you, etc. etc. On the other hand, if you have the "forever home" within your reach right now, you should give it serious consideration. The housing market is back on the rise and typically a property gains 1-2% in value each year when the economy is moving in the right direction. We dropped approximately 20% in value in this area since 2007 and for a good while the prices did not increase. Now we're heading up, we're out of the basement and the interest rates are extremely attractive. So buying your forever home today may be a more pain free way to obtain it at a lower price and interest rate than it will be in the future.
I'm here and available to anyone with the same scenario who wants help and guidance in weighing their options and finding out what avenue is best for them. As I said before, everyone is different!... more
Why should the owner pay for background checks? By requiring prospective tenants to pay for their own applications and background checks landlords dramatically reduce the number of people with credit problems from wasting their time.
If applying were free what would prevent people with serious felonies and financial problems from applying to any and every rental? Nothing at all.
Also, it can cost $50 - $75 for a proper background check. Imagine how expensive that could be for a landlord.... more
Great areas and plenty to rent, but do you mean a Single Family property or can it be a multi-family property? (live on top or bottom) or do you prefer an apartment or condo? Also how much is your maximum preferred rent, do you have a dog or cat, do you need a garage or on street parking ok?... more
This is not normal. A buyer is able to view any property they like at no cost. My company specializes in this area. We are located in The Carlyle which is down the street from this building. Please call and talk to any of our agents.
Michele M. Evans-Katz, AHS
Accredited Home-Staging Specialist
Richard Katz Realty & Condo Realty
Office in the Carlyle
12900 Lake Avenue
Lakewood, Ohio 44107
216/221-8500 - Ofc
216/299-0083 - Mobile/VM... more
Hello, it all depends on where exactly the house is...some homes that are near traffic light/intersections are a bit louder ....and obviously the North side of Lakewood Hts Blvd will be quieter than homes that back up to the highway (I90)...
but again, if the house is perfect for you in other ways, and price makes it worth it, then buy!... more
Questions that every first time ask themselves and if you're asking is because you have in some level figured out that you may be throwing rent money out the door.
If you are ready to take on full responsibilty for your property then jump right in. First thing is first, seek out a lender that we provide you with the best mortgage rates. It is like shopping for a car. once you have found the right lender let them pre-qualify you for a mortgage. This will let you know how much you can afford. Once the lender has provided you with the letter of pre-qualification hire yourself a buyers agent. This is very important. Hiring your own buyers agent will provide you with a real estate professional that will look at for your best interest.
Best of luck on your search for your first home.... more
I specialize in foreclosures in Lakewood. I can show you a list of houses and if you would like to take a look at them, feel free to contact me. They tend to need a lot of work, but if you are handy, then it could work out for you. -Frank Castaneda, Keller Williams Realtor, email@example.com... more
Dave Heck gave a great answer. In addition, many agents in NE OH use sold signs when all of the contingencies have been cleared & everyone is waiting for the closing date. This lets Buyers, who still have interest in the property, know that the transaction is ready to close. That's helpful for Buyers who have expressed a strong interest in buying the property or have been in a multiple bid situation (that's happening in NE OH).... more