When people buy a home, a number of factors influence their decision. The look of the home, as well as its size, layout, age, and proximity to amenities are all important, depending on the.
Why Should I Buy A Home In Fort Worth DFW
The advice your father would give you is because its a great investment and it shows stability. I cannot disagree, traditional home buyers typically have more wealth and do show stability in work and life. However lets delve into it a little deeper.
Buying a home will be the greatest financial wealth you will have in your life (typically unless you win the lotto, inheritance etc). Time to get personal with how my wife and I bought our first home. I was in my late 20's at the time and having gone thru a divorce my credit was not in great shape. I knew that even renting I was going to be throwing my money away. Instead of throwing a big wedding we decided to put together every nickle and dime and bought a home in Fort Worth (my city) without a lender. Yes the interest was thru the roof as we bought FSBO (for sale by owner) because we did not have the credit to qualify for a traditional loan/conventional loan. In 2009 we bought our first home in Carter Riverside for 77k, as of today the taxes say it has been appraised for 91k and realistically the home next door to us with no upgrades recently sold for 110k. We then upgraded the house, new windows, insulation and took advantage of the weatherization program the City of Fort Worth offered. Regardless of the high interest that we are paying the owner holding the loan we have 50k in equity. What does this all mean? It means that even though we paid a large amount in interest, if we sell this home we have 50k towards the downpayment for another home.
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