No matter your tax bracket or life circumstance, buying a new custom home is one of the largest financial transactions you’ll make. There’s no dismissing that fact, but if you’re a first-time buyer, you should understand that it-costs-lots-of-money means more than simply a big outlay of cash. For example, your credit health must be good. You must be approved for a mortgage. You must be able to make a down payment to activate your mortgage. But you also must pay obligatory transaction fees during the home-buying process. Here’s a primer so you won’t have to say, “but nobody told […]
Buying a home is a serious adult activity. None of it is one-size-fits-all. We’re as individual as our DNA and life situations, and it’s silly for us — or anyone — to dictate decisions to you. Our goal in Buying Versus Renting is drilling down to basics, using practical realities and our experience from more than three decades as Florida’s Custom Home Builder.
Once you’re ready to buy a new home, view your situation through the lens of our suggestions, just as you’d apply a magnifying glass to the fine print of an advertisement.
Clarity is what we want for all […]
When you’re deciding whether to leave the rent cycle and buy a new home, many factors compete for your attention. The financial one is the weightiest.
“Property taxes!” pundits, experts and media howl. “You don’t pay those as a renter.”
“Home maintenance costs!”
“You’ll lose money if you sell you home before you establish equity!”
Then there’s your financial health, the critical first step to becoming a new homeowner.
At some point you must form your own responses to the rhetoric above based on your life stage, age, career and family situation. Helping you do that is a major impetus behind our five-part Buying […]
At ICI Homes, we think home buying is a good thing. We’re walking you through all the major considerations of it, so you can make your most informed decision — crucial if you’re a renter seeking to make a change.
In Part I of our Buying Versus Renting series, we offered a birds-eye view of the positives of home ownership. In Part 2, we walked through personal financial basics that form the foundation of any home purchase.
In Part 3, we offer helpful guidelines for your new-home search. To help you focus on the exercise, let’s agree you’re interested in a […]
In the financial, homebuilding and real-estate industries, the question of buying a home versus renting one prompts all sorts of calculators, graphics and pro-and-con discussions. It’s a perpetual topic that ebbs and flows according to interest rates and financial markets.
Full disclosure: we’re not crunching all those numbers here.
However, we at ICI Homes are positive that home-buying is a good long-term decision on multiple levels, as we detailed in Part I of our Buying Versus Renting series. So let’s assume you’d like to buy your first home. What comes next?
How’s your financial health?
If your reply is “let’s discuss something else,” […]
When we become adults — no jokes please, wink, wink — one of the universal passage rites is deciding whether to buy a home or rent one. Adulthood conveys stability and security. The financial means to make such a large purchase and keep it long enough to establish valuable equity (equity is like magic financial pixie dust, but more on that much later).
It’s also the American Dream, so lots of emotional and psychological thingies work on us too, when we contemplate where and how we want to live long-term. What does our home base look like to us? How […]