If you are a First-Time Home Buyer, or looking for your next Home. Feel free to contact me anytime. I can give you the information you need to get you on the path to your goal.

Call Rod anytime!

Direct Line: 619.540.3798 / Email: [email protected]

Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It’s make an investment in your future.

First time Buyer: If you are considering the purchase of a your first home the process is very easy. Give me a call today and I will get you started on the path to home ownership.

Renting vs Buying a Home

Reasons to rent

Flexibility. Renting allows you to explore an area before making the longer-term commitment to home ownership. Unless you are certain about a specific neighborhood, renting allows time for research and discovery.
Career uncertainty.If you think you might need to move in the near future, or are mulling job changes that span several areas of town or are located elsewhere in the country, you might want to rent. Buying ties you down to a greater extent.
Income uncertainty. If you expect a pay hike or cut in the near future, that can change your borrowing ability as well as impact your ability to pay a mortgage.

Bad credit. Creating a history of on-time rental payments can help you build the sort of credit you’ll need to qualify for a mortgage.
No maintenance expenses. When a pipe leaks, you don’t head to the store; you head for the telephone and call the landlord.
Utilities (sometimes) included. In some instances, the landlord may pay for many utilities such as water, sewer, garbage, and, in some cases, even heat and hot water.
But there is a downside, too: You may have no control over the fluctuation of your rent, a big-budget item that can change often. Long-term budgeting becomes more difficult.

Reasons to Buy

Equity. When you pay rent, you are paying your landlord’s mortgage or adding equity to his or her bank account. However, when you have a home mortgage, you increase your degree of ownership in your home with every payment. A general rule is that if you intend to stay in your property for at least five to seven years, the costs of purchasing the home are more likely to be offset by accrued equity and increased housing value. In the event that equity in the home grows to more than a 20-to-80 percent loan-to-value ratio, you will be able to borrow against your equity in the home. This can be cautiously used should you need capital to pay for major purchases. If interest rates drop, you can refinance your mortgage at more favorable rates, or, once you’ve paid the entire mortgage off, borrow against the equity in your home to fund major purchases such as a second home or your child’s education.

Tax deductions. You can deduct mortgage interest as well as your property taxes. Uncle Sam doesn’t give renters this bonus. Not only that, but if you meet certain requirements the IRS won’t apply a “capital gains” tax on your profits from the sale of your home. You can keep the first $250,000 in profit you make when selling the home if you’re single, or the first $500,000 if married. In addition, those who work from home may be eligible to take deductions for their home office and portions of utilities.
Creative control. You like dozens of pictures on the wall? Well, hammer away — they are your walls now. Go ahead and paint them mango! Wish you had another room? Go ahead and add one.

Maintenance choices. If you live in a house, you can decide how to approach maintenance, either doing it yourself or picking your own contractor. If you live in a condominium or homeowners’ association, you may pay a monthly fee to have maintenance work covered by the association’s contractors.
While a home is a good investment — and let’s face it, you have to live somewhere — many financial experts caution against purchasing a home simply as an investment. Historically, real estate market increases have been slow and steady, not the meteoric spikes seen between 1998 and 2008, when the economy buckled. Some experts like to point out that while housing prices and declines are cyclical, the stock market, on the other hand, had generated average annual returns of between 8 and 10 percent pretty steadily for decades. While those stock market gains may be less secure now, even conservative money planners try to deliver 5 to 7 percent returns. In San Diego home prices average between 5% and 7% price increases from your to years making San Diego a firm investment over the long haul.

When a home is purchased a buyer will general put down as little as 3.5 percent of the purchase price down on the property.

Example:

If you put $10,000 down on a home, and your home cost $300,000, and you are gaining 5% annually on the value of your home. Your home value would increase to $315,000 in the first year. You just made $15,000 on a $10,000 investment.  No one has a crystal ball, but historically southern California housing has been a strong investment over the long haul.

We at Rod Bairos Real Estate believe in the personal touch with all our buyers. Please call or email anytime and I will get you started on the road to home ownership in San Diego.

Call me today and lets talk about finding you a new home.

Direct Line: 619-540-3798