Will Stein

Top 3 Most Searched Questions About Buying A House

In buying a home, you probably have a lot on your mind. You may wonder about how much money is necessary for the down payment, or how your credit score may affect obtaining a loan, or maybe just thinking how long the whole process would take from applying for a preapproval for a loan, to viewing properties to receiving an acceptance to your offer, and to finally signing all the closing documents to your new home. However, if you do not ask, there will be no answer – good thing there’s Google!

Today, we will answer the 3 most searched questions when shopping for a home in Prince George’s County, Maryland.

  1. Does buying a house affect tax return?

The short answer is YES.

No matter what type of home you buy, be it a townhouse, a single-family home,  or a condominium, when you become a homeowner there are several tax breaks you may benefit from to help you save money during tax time.

  1. What is the first step in buying a house?

Since you have set your mind on buying a home, you probably already have saved for the initial down payment. The best first step you can take is to find a reliable realtor to guide you through the home buying process. This includes obtaining a pre-approval letter for a mortgage, finding your dream home that fits your budget and criteria, making an offer then negotiating the terms, conducting inspections and requesting an appraisal,  providing lender required documents for the loan, and, of course, finally signing all the legal documents at settlement.

  1. What is the best reason why someone would want to lease a house instead of considering a home purchase?

Homeownership is not for everyone. For those who do not want to deal with property taxes, insurance, or cost of upkeep, for example, renting could be a viable option. However, in the long run, owning a home can be beneficial for homeowners due to the amount of equity gained in their home.

There are times when even Google cannot provide the exact answers you’re looking for. The good thing is, there are experts who can help fill you in on the details that you need in order to sell your home.

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