Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
Renters: Who owns the home we’re renting?
Renters: Who owns home the home we're renting? The home two renters are renting was recently sold in a sheriff's sale. Now they're wondering, who actually owns the home and what does it mean for them? Q: Let’s assume someone has a mortgage. Their home sells for one dollar at a sheriff’s sale. Who owns [...]
Condo Living: pros and cons
Condo living: pros and cons of a small HOA Q: I purchased my condo in July 2021. Since then, the condo board put through a special assessment for $120 per month for the next 84 months to pay for “unsafe balcony” repairs. This was not disclosed at the time of my closing. Condo HOA is [...]
How Much Can I Afford For a Home?
How much can I afford for a home? With home prices skyrocketing over the past few years, home buyers are worried about affordability. Q: How much can I afford for a home? I retired in 2020. My long-term plan was to move to a single level home. I've delayed it due to Covid but hope [...]
Electric Car Home Charging Stations: Who should pay?
In 2018, there were a million electric cars on the roads in the U.S. By 2025, there will be more than 18 million electric cars on U.S. roads, according to PolicyAdvice and Business Insider. Electric car owners will want to charge their cars at home, at the mall, at work or in every parking garage. [...]
Buying a House in 2021 is Hard: Is Building More Homes The Answer?
Buying a house in 2021 is hard. Is building more homes the answer? We spoke with leading real estate industry economists and observers about why it is so difficult to buy a house this year, and whether rising mortgage interest rates or building more homes will solve the new housing shortage. This week, the National [...]
Buying a House in Cash: Closing Costs and Fees
Buying a house in cash: closing costs and fees. The expenses are slightly different when you buy a house in cash instead of taking out a mortgage. Q: Thanks for your recent article in my local paper titled "Is it better to buy for cash or take out a mortgage." You imply, if not suggest [...]
Coronavirus 2020: Home Buying, Selling and the Real Estate Market
Coronavirus 2020: home buying, selling and the real estate market. Answering reader questions about how COVID-19 will impact the housing market. In the past few weeks, we have begun to receive questions about COVID-19 and how the coronavirus pandemic has affected local real estate markets. Many buyers and sellers are worried about making a [...]
Buying a Flipped House: Nightmare
Buying a flipped house: nightmare. This homebuyer discovered a host of expensive repairs right after moving into their new home. Buying a Flipped House: Nightmare Q: My question relates to buying a house that was flipped. I searched Ilyce’s website and only found articles for those who were flipping houses, not for buying what turns [...]
First-Time Home Buying Tips for 2020
First-time home buying tips for 2020. A look at the real estate market heading into 2020 and four tips for homebuyers in the new year. In a few days, we’ll start a new decade. Rarely has a decade produced the kind of wild swings in residential real estate prices as we’ve seen over the past [...]
Gen Z Home Buying Preferences in 2020
Gen Z home buying preferences in 2020. They want to become homeowners by 30 and they’re realistic about the housing market challenges they’ll face. Gen Z (ages 14-23) has high hopes for homeownership. According to research by Freddie Mac, Gen Z has a more positive perception of what it means to own a home than [...]