1. Should I talk with a Bank before looking for a home in Desert Ridge?
YES. Ideally, home buyers should speak with a bank or a few banks to understand what current rates are and where one stands when trying to secure a loan or mortgage. This will help one understand what type of Desert Ridge home they can afford and which Desert Ridge communities they should focus on when researching the Desert Ridge market with a local Desert Ridge Real Estate agency.
2. Why buy a home in Desert Ridge instead of Rent?
Your home is a tangible asset a long term stable investment. When one rents they pay their landlord’s mortgage and that money is gone forever without gaining any equity. When one owns, they can deduct the mortgage loan interest from federal and state taxes and the other money goes towards the principal and equity in one’s home or asset. As Interest Rates are at historic lows, in most cases in Desert Ridge, it is more affordable to own a home then it is to rent.
3. Should I use a Desert Ridge Real Estate Agency to buy a home?
YES. An experienced realtor can guide a potential buyer through the entire process from securing financing to identifying the best value in the most appropriate Desert Ridge neighborhood. The seller typically pays the commission so don’t shy away because you think you can’t hire a professional. A local Desert Ridge Real Estate Agency or Agent should be well acquainted with all the subdivisions and housing products in the region, whilst being able to educate buyers on schools, future transportation projects, job growth and most importantly market trends and statistics.
4. What are the necessary steps when buying a home in Desert Ridge?
Initially, one must create a budget of income and expenses, identify a local Desert Ridge Realtor, research and compare potential mortgage lenders, secure a pre-qualification from the lender, identify a home price that fits within your budget and target a Desert Ridge neighborhood that one wishes to live in. Now it’s time to go shopping! Your local real estate agent should show you many homes before you fall in love. It’s all about kissing many frogs until one finds the perfect home.
5. What does Location, Location, Location really mean in Desert Ridge?
Before buying a home in Desert Ridge one must think about resale value and what makes a home hold its value in good and bad real estate markets. Location is key to the strength of resale value. Carefully identifying the right Desert Ridge community is the first step which will help maximize the future value of one’s Desert Ridge home. Things to look for when considering location and resale value include; access to nearby amenities, employment centers, and major transportation route without fronting or backing onto major thoroughfares, schools and their ranking within the state and national education system, property taxes and HOA expenses . An expert local Desert Ridge Real Estate agent should be able to walk one through all these components of location and strong resale value.