Buying a home is an exciting adventure! But it can be especially complicated. There are a lot of details that need to be iron out and if you’re not too familiar with all aspects of the process, it can end up being costly and time consuming. Especially if you don’t have all the best information and resources at your disposal.
Our experienced agents will make this process a stress-free and smooth experience. As a small boutique firm we always customize and tailor our service to meet each individual customer by looking out for their best interest. Whether you’re buying your first home or an investment property, we will be here to guide you! Our priority is our customer’s success.
Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. It means having the freedom to paint the walls any color you desire own a pet, attach permanent fixtures and decorate your home according to your own taste. All this without having to get pre approval from the landlord as well as building an investment in your future. Home ownership gives you and your family a sense of stability and security.
Your equity in your home is the amount of money you can sell it for minus what you still owe on it. Every month you make a mortgage payment, and every month a portion of what you pay reduces the amount you owe. That reduction of your mortgage every month increases your equity. That is especially true now with the elimination of risky mortgages like negative amortized and interest-only loans thanks to the new “Qualified Mortgage” rules.
The way mortgages work is that the principal portion of your payment increases slightly every month year after year. It’s lowest on your first payment and highest on your last payment. Thus, as the months and years go by, your equity grows! Paying that mortgage every month and reducing the amount of your principal is like a forced savings plan. Each month you are building up more valuable equity in your home. In a sense, you are being forced to save and that’s a good thing. Although real estate moves in cycles, sometimes up. Sometimes down, over the years, real estate has consistently appreciated.
First-time homebuyers may be pleasantly surprised when they file their personal income taxes after they purchase a home as their primary residence. The interest payments they have made to their lender are fully deductible. Also certain closing costs and loan discount points may also be tax deductible When you start making mortgage payments, almost the whole loan payment consists of interest.
In the early years, you pay little principal back on the loan. If you have an equity loan on that primary residence, you can also deduct interest paid to the lender on loans up to $100,000. For many people this is a huge deduction, since interest payments can be the largest component of your mortgage payment in the early years of owning a home.
Benefits of Hiring a CIMA Real Estate Consultant
- Support: (We are here to help, every step of the way. Placing our clients’ interest first before our own. At CIMA you’re not just a number, we educate our clients through the process and help them understand it to make it a stress- free experience
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- Access to Inventory and Marketing Network
- Experienced Real Estate Agents: We understand the local market and continue to attend current Realtor seminars to ensure everyone is up to date on new regulations.
CIMA Realty Group looks forward to helping you
We are dedicated to excellence and always put our clients interest first. That is our key to success. CIMA Real Estate Group.