RealNezier by Premium Real Estate Services LLC

Breky Nezier

  

   Realtor & Public Notary    

 Real Estate Frequently Asked Questions

How much should expect to spend on buying a home?

November, 2020

As a general rule, you shouldn't spend more than about 33% of your monthly gross income on housing. Now that you know your Debt-to-income ratio, you can get a good idea of how much you can afford to pay monthly for your mortgage with a few simple calculations.

What Style of home do I prefer? (two story, Townhouse or condo)

Regardless of where you want to move, there are tons of options for the types of homes you can buy. Your choices stretch from basic single-family and multi-family homes to condos and townhouses. Some jumping-off points for making a final decision on a home include the number of bedrooms and bathrooms it has and whether it has the space to fit your family comfortably. In a more practical sense, knowing what style of home you want beforehand will help you find a suitable mortgage.

How much renovation and remodeling am I willing to do?

Decide whether your house is high-end, mid-end, or low-end. Once you make this decision, then you can better answer how much you should spend remodeling a house. You can make the call based on the value of your house compared to the median home value in your city and neighborhood. If the value of your home is within +/- 25%, it should be considered mid-end. Once you’ve decided what level your house is, remodel based on that level.

How many Bathrooms do I need? How would I like to have?

October, 2020

The average ratio for most homeowners is that there should be at least two bathrooms for every three bedrooms. For instance, if you have a three-bedroom house, it is most likely that there will be the main bathroom for adults, and a family bathroom for children and other members of the family.

Do I want an older home or a new one?

September, 2020

It's a question confronting all homebuyers.

While there are some advantages of buying a new house, a strong case can also be made for purchasing an older property. For buyers who are on the fence between buying a new or existing home, multiple factors should be considered, including maintenance, cost and customization.

What's more, homebuyers should consider whether a property may maintain its value. This is especially important for those who think they may move again in a few years. One way to gauge whether a property is likely to retain value is to research historical home values in the area. While there are no guarantees for future home prices, checking trends and seeing how well home prices have recovered since the recession can help you decide whether a home is a good investment.

Quick Facts

Real Estate Investments

Real estate investing is one of the best ways to secure an early retirement. Becoming a real estate investor can help you build a sizable nest egg in a relatively short period of time. By buying an investment property and renting it out, you can generate a steady positive cash flow for years. As long as you properly manage this money and continue to slowly build your rental property portfolio, you can put the extra income towards securing an early retirement.

Real estate investing comes with several tax benefits On top of its high-profit potential, real estate offers a number of tax benefits. First of all, income that is generated through real estate investing is not subject to FICA. The only exception to this is when this income is paid as a salary through a holding company. In addition to this, there are other benefits on lower capital gains, refinancing, depreciation, and 1031 Exchanges.