FAQs

REALESTA Manifesto

A one-stop full service brokerage firm that is making the difference in the real estate business setting the highest standards for the good of the industry.

BENEFITS OF HOMEOWNERSHIP

A brief explanation about the benefits of owning your home. Control, Value Appreciation and Tax Shelter are just a few of the most important economic factors of home ownership.

WHAT TO EXPECT FROM A REAL ESTATE BROKER?

A buyers guide to understand the real estate agency law which ultimately defines the relationship between the purchaser and a broker.

HOW DO I KNOW HOW MUCH I CAN AFFORD IN A HOUSE?

Your income and whatever debt you may have will be a determining factor of the amount that you can afford to spend on a house. Usually prospective home buyers will look at homes that do not exceed 2.5 times their annual income. For example: If an individual earns $50,000/year then their home purchase should not exceed $150,000. This can change based on the market area in which you are seeking home ownership. if there are no homes available in your area within your range, you may need to spend more than expected without allowing your monthly mortgage payment to surpass 35% of your monthly gross income. Any other debt you may have (auto, credit cards, etc) in addition to your monthly mortgage payment should not surpass 43% of your monthly gross income depending on the kind of mortgage loan you are applying for.

WHY SHOULD I USE A REAL ESTATE AGENT?

Using a real estate agent can help you in many ways. First, the seller or builder pays for the services provided by the agent in the purchase of your new home, making these services free for the home buyer. Second, an agent knows everything involved with the purchase of a resale or the building process of a new home. Agents provide representation to the home buyer and assist them in understanding the home buying process, paperwork and help in making your purchase a smooth transaction. Third, with an agent, finding the right home in the right location is made simple. The real estate agent can do the research for you and show you homes in your area of interest that meet the criteria you specify.

Why Should I buy, instead of rent?

A home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes, if applies. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you’ll enjoy having something that’s all yours - a home where you own personal style will tell the world who you are.