Relocating? Here’s What You Should Consider

Relocating to a new city and buying a new home, can be a fun and exciting time, but it can also be somewhat stressful. Since there are a lot of people moving to the Pacific Northwest, and you may be one of them, you may be asking yourself, “what to consider when relocating”? Not only do you need to figure out the logistics of moving, but you want to make sure that the location to which you’re relocating is one that you truly, like. If you’re thinking about relocating in the Northwest, here are the top four tips to consider when relocating.

Budget-for-Relocating1. Consider Your Budget

One of the most important things to think about when you’re moving somewhere new is your budget. Putting together a moving budget in advance is highly recommended. This budget should factor in all costs of your move, including things boxes (rather than buying boxes, consider looking on Craigslist or going to your local grocery store’s deli department and asking for empty boxes) moving supplies, a moving truck, gas, days missed from work, etc. When putting together your budget, you should also consider the cost of living in the new city. Will you be saving more, or spending more on day-to-day purchases and activities? Can you afford this? How much do you think you’ll need to have saved once the move in complete to help cover the costs of your first year in your new home?

5 Tips for Asking parents for help with a down payment2. Renting vs. Buying New

Another thing to consider is whether or not you want to rent in your new location, or buy something new. This may depend on how permanent your relocation is – if you plan to be in the new city for a brief period of time – say 1-2 years, then renting may be a better option. On the other hand, if you’re ready to put down roots, buying would most likely make more sense. We have homes for sale in Washington, Oregon, and Idaho, with countless communities to choose from. In many of our markets such as Boise, ID, real estate is booming so buying a new home now can be a great investment.

Location, location, location3. Location, Location, Location

If you know that you’ll be relocating to a new city, you should think about where you want to live within that city, as location can make a significant impact on your comfort, quality of life, and enjoyment of your new home. For example, if you have kids, you’ll probably want to be located in a neighborhood that is near top-rated school districts. If this is important to you, each of our community pages, has a “Schools” tab, that provides you with a list of the schools that are within the district of that community! Or, if you work downtown, you’ll want quick access to the city and highways. Things like natural beauty for the outdoor lover and proximity to public parks, libraries and restaurants are all important, too.

Tips for Relocating4. More Work Now, Means Less Work Later

Finally, keep in mind that relocating is a lot of work. However, it’s also very motivating to know that you’re starting a new chapter in life and that comes with many benefits. One of those benefits is you are probably in a better financial situation now compared to when you last moved, so there’s a good chance you’ll be able to afford a newer home. As is the case with most things, relocating goes smoother if you put more work in now, give yourself plenty of time, and prepare in advance rather than waiting until the last minute.

The-Vale-KitchenCome See Our New Homes

Our home builders in Oregon, Washington, and Idaho have the dream home you’re looking for, and we’re ready to answer any questions you have whether you’re buying your first home or looking to purchase your second or third home. Get in touch with us today to learn more!

Homebuyer Purchasing Power [Infographic]

If you’re asking yourself “how do interest rates impact my purchasing power”?  Even a 1% change in interest rates can affect how much your mortgage will be. To help answer this question for you, we’ve put together this simple infographic to show you!

Buyer purchasing power is the driving force behind real estate pricing. Every increase in interest rates drops your purchasing power which is important to keep in mind when looking to purchase now or later. As referenced in the rate sheet, you can see that as interest rates increase, buyer purchasing power will decrease.  If you would like specifics, contact a Community Manager today who can help guide you in the right path to owning your home for a payment you can afford. Find your community of interest, and visit with a Community Manager in Oregon, Washington, or Idaho today to learn more!

 

Home Buyer Purchasing Power

What Is Private Mortgage Insurance and How Do I Avoid Paying it?

When you are buying a new home and asking a lender for a mortgage loan, there are a lot of different documents and financial terms that you will need to review and become familiar with. And depending upon your financial situation, you may be asked to purchase Private Mortgage Insurance (PMI) in order to qualify for your loan. Here’s an overview regarding what you need to know about private mortgage insurance, and how you may be able to avoid paying it:

Buying a new home with Zero down home loan - USDAPrivate Mortgage Insurance – What’s That?

Private mortgage insurance, or PMI, is a type of insurance that protects the lender from losing money if the borrower ends up not making payments on their loan, eventually resulting in foreclosure.

PMI isn’t always required, and there are many homeowners throughout the nation who do not have PMI coverage. However, your lender may require you to purchase PMI if:

  • You are asking for a conventional loan; and
  • You are making a down payment of less than 20 percent.

How-much-does-PMI-costHow Much Does PMI Cost?

How much you have to pay for private mortgage insurance depends upon how much you are borrowing, with Bankrate.com explaining that the average rate is between .3 and 1.5 percent of the original loan amount per year, with a lower percentage being based on a greater down payment amount. ConsumerFinance.gov describes more about the process of making payments, detailing that premiums are typically added to the monthly mortgage payment. It’s important that you review your loan disclosure and closing documents so that you know exactly how much you may be liable for.

How to avoid paying Private Mortgage InsuranceHow to Avoid Paying for Private Mortgage Insurance

There are drawbacks and advantages to PMI. The biggest advantage is that if you agree to purchase PMI, you may be able to qualify for a loan that you otherwise would not be eligible for; the biggest drawback is that you have to pay more every month to insure your loan. It is very important that you discuss your options with your lender before you commit to anything.

It is sometimes possible to secure a conventional loan without PMI even if you don’t put 20 percent down. In exchange, you may be offered the loan at a higher interest rate. There are also other types of loans available that you may consider, such as FHA loans. Read our post on How to Determine which home loan is right for you!

Spacious New Hayden HomesHayden Homes Can help Get you get into Your Dream Home

Being a homebuyer who is looking into buying a new home, even if it’s not your first home, comes with a number of questions. At Hayden Homes, we can help you answer those questions and get into your dream home.  To view our new homes for sale throughout the northwest, including in Washington, Oregon, and Idaho, call our Online Home Concierge today at 541-797-0097, or contact us online.

What Is a Mortgage Credit Certificate and How Can It Help Me as a First-time Homebuyer?

First-Time-homebuyers-using-an-IRA-photoIf you’re thinking about buying a home, or have recently bought a home for the first time, understanding the Mortgage Credit Certificate program could help you to save money when it comes time to pay your taxes, and could even help you to qualify for a loan. Here’s what you need to know about the mortgage credit certificate program and how it may help you as a first-time homebuyer.

Understanding Mortgage Credit Certificate: The Basics

As explained by the National Homebuyers Fund, Inc., a mortgage credit certificate–or MCC–is a tax credit from the Internal Revenue Service (IRS) that reduces how much an individual must pay in federal taxes by subsidizing the monthly mortgage payment. The site further explains that the benefits are twofold: first, the MCC is based on the amount of interest that the homebuyer pays annually, and can also help the buyer to qualify for the loan initially because it increases net earnings and decreases tax liability. Indeed, the reduced tax liability is a dollar-for-dollar amount based on the mortgage interest paid yearly (as a note, there is a cap on the amount of tax liability that can be reduced).

The purpose of an MCC is to help lower-income families afford homeownership for the first time.

State and Local Governments and MCC Programs

An MCC should not be confused with the federal first-time homebuyer credit. Unfortunately, the federal first-time homebuyer credit of $8,000 offered by the IRS has expired, but there are still many state and local governments that offer the MCC for residents. What’s more, the MCC continues year-after-year, so long as you continue living in your home, and continue paying your loan. Here’s how eligibility for the MCC typically works:

  • The candidate must be a first-time homebuyer;
  • The candidate must meet certain income requirements; and
  • The home that is purchased must be eligible (based on location and purchase price limits).

Worried About Qualifying for a Home Loan?

If you are worried about qualifying for a home loan in order to purchase your first home due to a lack of sufficient income, a Mortgage Credit Certificate may help you get approved. This is because many lenders will count the offset of the portion of the mortgage interest as a tax credit, not a tax deduction, bolstering an applicant’s annual income.

How to Find Out More

If you are interested in the MCC program, check in with your state to determine whether or not an MCC is offered where you live.

If you don’t qualify for an MCC, there are a multitude of other programs and financing options that may be available (Read our Blog about different loan options here) if you’re buying your first home in Washington, Oregon, or Idaho. To learn more, reach out to our Hayden Homes team members for questions – we can help you get into your dream home as soon as possible! Contact us today to learn more about the new homes for sale in your area.

How to Find New Homes for Sale Near You Online

Snowbrush Great RoomSearching for a new home is an exciting process. And while there are a number of different resources available to you, such as the help of an experienced and licensed realtor, friends and family, and referrals from those in your local community, one of the best resources is the internet. In today’s digital world, nearly all new homes for sale are listed online.

Great Websites for Finding New Homes for Sale Near Me

There are a lot of different websites that can be used to search for homes for sale online. A few top listing websites include:

  • Zillow.com
  • Trulia.com
  • Realtor.com
  • Homes.com
  • NewHomeSource.com

While these are some of the best sites, you should also find out whether there is a website that is specific to your state that provides MLS listings. Many home builders, including Hayden Homes, also maintain independent websites where you can find information about new homes for sale.

Things to Consider When Looking for Brand New Homes for Sale Online

There are a number of benefits to using the Internet to search for homes online. For example, when using the internet you can:

  • Compare prices of multiple homes at once;
  • Focus in on details, like a specific neighborhood you want to live in, that are important to you;
  • Get a lot of information about a home, such as how long it’s been on the market or what the average yearly taxes are; and
  • Explore your options and inform yourself about what’s available without making a commitment.

Virtual-Tour of New Hayden HomesIf you’re looking for new homes online, there are a number of things to think about as you search, including:

  • Pictures & Virtual Tours. Home builders are making it easier all the time to gain a good sense of what their homes look and feel like. For example, in new construction, there may not be an existing home where you can see it in person before you buy – which means occasionally you will need to rely on photos and virtual tours as a point of reference. This is a convenient way for customers to explore different home models and find one(s) that they’re in love with.
  • Information on online listings. You can learn a lot about a new home from the detailed information about the home on its listing. While there are occasional inaccuracies, you can trust the information enough to narrow down your options and proceed to obtaining a copy of the MLS listings from the listing agent. The listing agent will be your best ally in getting real-time information about the status of the home you are interested in. You can also contact the home builder directly to inquire about their home for sale if it’s a new home construction.
  • Your budget, location, and preferences. When searching online, it’s easy to get carried away – there are so many options to look at! When you are conducting an online search though, you should narrow down your search based on the location you want to live, preferences (like the number of bedrooms and bathrooms), and certainly by budget. For example, if your spending cap is $300,000, don’t look at homes that are $400,000 – this might get you thinking about something you know you can’t afford.

What’s Next?

Have you been comparing homes online for a while now, and now have a better understanding of what you’re looking for or can afford? If so, it may be time to meet with a new home builder. At Hayden Homes, we have the dream home you’ve been waiting for, whether you’re buying your first home or ready to upgrade your lifestyle. Our homes are high quality, beautiful, and located in great communities throughout the northwest, including in Idaho, Washington, and Oregon. To learn more, contact us today! We can’t wait to introduce you to some of our new homes for sale near you!

Tax Breaks Every First-time Homebuyer Should Know About

Did you know that every year, there are changes made to the tax code? That means that if you are planning to buy a new home in 2017, the tax breaks that apply to you could differ from previous years’ rules, and certainly rules in the future. Here are some tax breaks that every first-time homebuyer should know about.

Tax Benefits for buying a new home - Hayden Homes1. You Can Deduct Your Home Mortgage Interest

One of the biggest perks of being a homeowner is that you can deduct your home mortgage interest. Because home amortization works by applying the highest ratio of interest to principal to your first payments, the home mortgage interest deduction is something that homeowners especially benefit from during their first year of owning a home.

2. Penalty-free Withdrawal from IRA Savings

You may know that if you withdraw funds in your IRA before reaching retirement age, you will have to pay an early withdrawal penalty. However, did you know that this penalty can be bypassed if you dip into your savings for the purpose of acquiring funds for a down payment on your first home purchase? That’s right – you can take a certain amount (consult your local Loan Officer for specific dollar amounts) from your IRA to put towards your down payment without being penalized for the withdrawal. Bear in mind, you may still have to pay taxes on it.

 

 

3. Home Improvement Tax Breaks

Do you need to make improvements on your home? If so, you should consider taking out a home equity loan to do it. When you use a home equity loan to finance improvements, you can deduct the interest on this loan just as you can deduct your mortgage interest.

4. Local Property Tax Deductions

When you buy a new home, you will have to pay property taxes on that home. You are allowed to deduct any of the real estate taxes paid to the taxing authority when filing your taxes. You can refer to the website of the IRS for more information about exactly how to do this.

5. Mortgage Interest Credit

Another tax benefit that first-time homebuyers can take advantage of is the mortgage interest credit, which is different than the mortgage interest deduction benefit. The mortgage interest credit directly counts against your tax bill, and allows you to claim 20 to 30 percent of the interest you pay every year back as a straight credit on your taxes.

Look to Hayden Homes to Find Your Brand New Home Today!

Buying a new home is a large expense, but it can also serve a number of financial benefits, too. If you have been thinking about buying a new home but aren’t sure if it’s the right decision for you, we have written a number of blogs regarding zero-down loans, costs of a new home, and more. To learn more about Hayden Homes, the benefits of a brand new home, and how we can help you to secure financing, contact us today! When you choose Hayden Homes, we help you find your dream home in Idaho, Oregon, Washington, and all throughout the Pacific Northwest!

***UPDATE***
With the recent changes to the tax laws that were past at the end of 2017. These will affect your taxes and what you can deduct beginning in 2018, therefore, we highly recommend that you consult your local Tax Accountant for specific items that you can take advantage of as a homeowner.

We talk about a few of them in our Blog on How the 2017 Tax Bill will affect homeowners.

How to Determine Which Home Loan is Right for You

IfFind a loan that works for your family you are thinking about buying a new home, then you probably already know that there could be myriad financing options available to you. Knowing which financing option to choose, and which type of home loan is right for you, are both important things to know. Review the following information about the different types of home loans available to individuals just like you.

Fixed Rate Mortgage
A fixed rate mortgage is one of the most common home loan structures. In a traditional fixed rate mortgage, a home loan is offered with a certain interest rate, and this interest rate is “fixed”–meaning that it does not change over the course of the loan–over time. Fixed rate mortgages can provide a sense of stability, as you always know what your monthly mortgage payment will be; it will not change.

Normal fluctuations in your escrow account may cause your monthly payment to change, but your actual mortgage will be fixed.

Adjustable Rate Mortgage
Adjustable rate mortgages (ARMs) are quite the opposite. In an adjustable rate mortgage, the interest rate can change over time. While ARM mortgages have typically been deemed risky, experts say that ARMs may have their place. As suggested by an article in The Washington Post you may consider an ARM if:

  • You plan to move before an interest rate spike will happen;
  • You expect your income to rise; or
  • You think you can invest your mortgage savings for a greater return elsewhere.

However, if you are planning to buy a home that you’ll live in for decades and you’re not sure what your income will be, you may want to consider avoiding ARMs.

VA Loan
A VA, or Veterans Administration loan, is a type of loan that is available only to veterans. VA loans are issued by private lenders, just like standard loans, but the VA guarantees a portion of the loan. These loans can help qualifying individuals purchase a home without a down payment or private mortgage insurance, secure low interest rates, and more.

USDA Rural Housing Loan
Another option for financing is a USDA (US Department of Agriculture) rural housing loan. With this type of loan, you can buy a home with zero down payment and a very low interest rate if you meet eligibility requirements, including income requirements and you are buying in what is considered to be a “rural” area. Many Hayden Homes’ neighborhoods are being built in areas that meet this standard!

FHA Loans
The Federal Housing Administration (FHA) is the largest insurer of residential mortgages in the world, and if you get an FHA loan, this means that you are getting a loan that is considered a “mortgage insurance backed mortgage loan.” Essentially, when you have an FHA loan, you are paying for mortgage insurance, which protects your lender in the event that you default on the loan. Because of this protection, FHA loans are often offered at lower interest rates, and eligibility requirements may be less strict, too. Less than perfect credit and a lower down payment (minimum is 3.5 percent) are OK, and some of your closing costs may even be covered.

FHA 203k Rehab Loan
Remember, an FHA loan is a type of loan that carries mortgage insurance and is from an FHA-approved lender. An FHA 203k rehab loan is different than a traditional FHA mortgage loan in that the former allows you to take out a loan with the purpose of buying a home and improving upon it. This means that if you are buying a home that is less than perfect and is in need of repairs, you can use your FHA 203k rehab loan to finance repairs to make the home livable.

Loans for People with Less than Optimal Credit
If you have poor credit, you may be under the impression that getting a home loan isn’t in your immediate future, and therefore you need to put the idea of buying a home on the back burner for awhile. However, there are still loans available for people with less than optimal credit, including many of the loan types mentioned above, such as the FHA loans, VA loans, and USDA rural housing loans. Some private lenders may also offer loans to those with less than optimal credit, although keep in mind that the interest rates on these loans may be higher than is reasonable.

See Our Homes for Sale Today in the Pacific Northwest
At Hayden Homes, we have a number of properties that may qualify for USDA rural housing loans (view full list here), and we also work with home financiers who can be helpful in answering questions and streamlining the home loan process to obtain your first home. To learn more, come see one of our brand new Hayden Homes today in Oregon, Washington, or Idaho!

It’s Puppy Season – How Do You Protect Your Biggest Financial Investment from Your Biggest Emotional Investment?

Puppy Proof Your New HomesThere is only one thing that can make your new home that much better: a new puppy! What’s not to love about floppy puppy ears, soft bellies, and of course – puppy breath?

Whether you’re heading out to get a new pup this weekend, or are the proud new parent of a little rascal, one thing is for sure: you need to know how to puppy proof your new home so that your biggest emotional investment does not wreak havoc on your biggest financial investment. Here are some tips to keep your home safe.

Crate Training

Using a crate is one of the best things that you can do to protect your new home. Crate training is an appropriate and effective way of confining your dog to one area of the house, and is key in potty training, and getting them accustomed to spending time in their own space without you. This is a great training method, especially when you are running an errand or when it is time for bed. Using a crate helps prevent your puppy from wandering off and getting into things, chewing things, or having accidents in the house when you least expect.

Puppy Proof by Removing Obvious Puppy AttractionsPuppy Proof Your New Homes

Be sure to barricade areas hallways, stairways or the dining room that you don’t want a puppy to have free access to by using baby gates. Also, remove items you don’t want chewed up, like your expensive pair of shoes. You should also make sure that trash is kept in a closed container or under the sink, and that power cords and other enticing objects are removed from within puppy’s reach. Make sure that any dangerous and toxic items are locked up and inaccessible. Giving your puppy too much freedom too early will enable bad habits to form (such as urinating in bedrooms and closets).

Take Your Puppy Outside A LOT

If you want your puppy to be worn out and avoid having accidents on your brand new sofa or carpet, you need to take your pup outside frequently. When your puppy is still being house trained, take them out once an hour if you can. When they go to relieve themselves outside, reward them with affection and a treat. Take your dog out even if you do not think they need to go, and plan on waking up in the middle of the night once or twice to let the puppy outside; puppies cannot hold their bladders through the night.

Purchase ToysPuppy Proof Your New Homes

As puppies lose their puppy teeth and grow in their adult teeth, chew toys are a must! To keep your puppy from chewing up everything in sight, make sure you purchase plenty of puppy-friendly toys to keep it entertained. In addition to dog puzzles, balls, and stuffed animals, invest in some durable, flavored chew toys.

Keep Your New Home Looking New

Setting up a routine that involves proper training and some playtime is a great way to get your dog accustomed to its new home. Just remember to crate train, go outside often, buy puppy toys, and keep the puppy out of rooms of the house you want to protect. It is never too early to start training, so consider enrolling your newest family member in a puppy training course near you. You’ll be glad you did.

Are you interested in buying a new home in Oregon, Idaho, or Washington that would be perfect for a puppy? Don’t hesitate to reach out to us today. Hayden Homes offers homes that dog owners will love, and our homes are in some of the most pet-friendly communities out there! Contact us for more information.

Why Buy New? The Advantages of Buying a New Home

Benefits-of-Buying-a-New-HomeWhether you are currently renting and you are ready to become a first-time homebuyer, or you own your home but are looking for something nicer or in a different location, you are faced with a choice: buy a brand new home, or buy a used home. While both have their advantages, buying a new home has some major advantages for the following reasons.

Energy Efficiency

If you have ever upgraded an old appliance to a newer energy efficient model, a furnace for example, then you have surely seen the money savings. What a great feeling it is to save money and promote sustainable energy, which is why buying a new home rather than a drafty older one is one of the top reasons Hayden Homes’ customers decide to buy new! Our new homes are equipped with energy saving windows systems and appliances. Which in turn, can add a little extra cash, in saved energy expenditures, to your wallet over time.

Personalization Personalizing-Your-New-Home-why-buy-new

If you are buying a new home, then you have the opportunity to make personalized decisions about YOUR home – colors, finishes and fixtures. Of course, it also means that you get to choose your floor plan, number of rooms and more. This can be great if you have always dreamed of a huge walk in closet, a home office, a spare bedroom, a home gym, or something else that personalizes your home. We invite you to explore our exciting home plan gallery, and please contact us with any questions you may have regarding personalizing your home.

Reduced Maintenance

Older homes need a lot of TLC when it comes to maintenance musts, ranging from fixing that leaking roof, to repairing the water heater, to replacing the carpet. The list goes on and on and on. If you simply want to enjoy your home without having to worry about constant repairs and maintenance, then buy new. Don’t let your used home take up your valuable time. The choice is yours. You can spend your evening hours and weekends doing things like painting and caulking, or you can spend that time where it matters – enjoying your hobbies, playing with your kids, or hosting friends and family.

Safety (Especially If You Have Kids)Energy-efficient-appliances-why-buy-a-new-home

You want your home to be as safe as possible, especially if you have little ones – or plan to have little ones – running around. Unfortunately, used homes aren’t always as safe as they should be. Dangers ranging from defective electrical wiring or outlets, lead paint and asbestos, to garage doors without automatic reversal systems…these can create unnecessary risks. With a new home, you can rest assured in knowing that each part of your home meets the current safety standards.

Warranty

Not only do you get that prized new home feel, but when you buy a new home, the materials and products in your home will be under warranty. This gives you peace of mind that if anything breaks down or stops working, you’ll get it fixed or repaired free of charge. Also, if you haven’t heard about Hayden Homes’ one-year builder warranty, you can enjoy your new home knowing that we’ll be here long after you get the keys to your beautiful new home.

Find Your Dream Home Today

If you are ready to start looking at new homes in the best communities the Northwest has to offer, Hayden Homes is here to help. Get in touch with us today to browse our selection of new homes, schedule a showing, or learn about financing options for those with approved credit.

About Hayden Homes
For nearly 30 years, since it was established in Redmond, Oregon in 1989, Hayden Homes has built more than 12,000 new homes in over 300 new home communities, across more than 50 cities, spanning Oregon, Washington and Idaho. Hayden Homes continues to be the largest privately held new homebuilder in the Pacific Northwest.

Hallmarked by a commitment to build high-quality, value-driven new homes throughout Oregon, Washington and Idaho. Hayden Homes supports local communities by employing local contractors and vendors and contributing annually to philanthropic efforts in the communities in which they build. Since 1989, Hayden Homes has contributed more than $9 million to charitable donations with the flagship of their giving through the 501C3 Non-Profit, First Story. The Hayden Homes brand family of companies include – Simplicity by Hayden Homes, Wise Size Homes and Hayden Homes. All providing an unparalleled selection of opportunities for those looking to purchase in a new home community in Boise, new home in Nampa, new home in Caldwell, new homes in Meridian, new homes in Kuna, or new homes in Star, Idaho.

Understanding Financing and Costs of a New Home

Buying a new home is an exciting process. In addition to all of the planning and thrill that accompanies being a first-time homebuyer, something to consider is the cost. Buying a new home, as you probably already know, can be a little intimidating. That’s why we here at Hayden Homes make it a priority to help you navigate the waters before plunging in. It is important to understand how much buying a new home really costs you, by taking into account the different expenses that factor into the process. Let’s dive in.

Financing and Your Interest Rate

When you look at the face value cost of a home – i.e. $250,000 – you’re not just paying $250,000 if you are relying on financing from a third party. That’s because when you get a home loan, you are charged interest on the money that you borrow, and your interest rate will have an impact on how much you end up paying over the course of your mortgage. And of course, you can pay off your home faster by paying a little bit extra on your loan each month. Many people do, and the savings are substantial over time!

The interest rate you get on your home loan will vary depending on the market, the lender you work with, and upon your circumstances. Here at Hayden Homes, we have a lot of good advice for people who are trying to position themselves to qualify for the best possible interest rate on a home, so please don’t hesitate to reach out (link to contact us page) and we’ll be glad to steer you in the right direction. Things like paying off your debts, establishing credit history and saving money for a down payment can really help.

Other Things that Influence How Much Your Home Really Costs

Another cost that you should take into account is the cost of property tax. Property tax depends upon the state you live in, and may also be influenced by other factors, such as the size/value of your home and location. So before you purchase or build, inquire about the property taxes so it’s something you can plan for.

When you own a home, you will also need to have homeowner’s insurance and pay for routine maintenance of your home. That can be costly if you buy an older home in need of updating. However, if your home is newer, you will most likely have significantly lower maintenance costs, which is one of the benefits of buying a new home!

Hayden Homes is Here to Help

At Hayden Homes, we know that the most challenging part of buying a home can be seeking out and acquiring a mortgage. That is why we are here to help.  Together, we can help you understand the costs of homeownership especially when it comes to financing options.

Explore our website to learn more and be sure to check out our mortgage calculator to play with some numbers. Get in touch with us today! No matter your history, no matter your timeline, we help people from a variety of financial backgrounds find the homes of their dreams!