Sage Realty Answers Cost Questions about Homes for Sale in Wayne and Main Line PA
Sage Realty knows that one of the primary concerns when deciding to look for homes for sale in Wayne or other Main Line communities is cost. Following are some of the common questions we get about the costs of purchasing a Main Line home.
- When buying a home- how much can I afford?
Before you start looking, determine how much house you can afford. What monthly payments would you be comfortable with? Remember to factor in any down payment, taxes, association fees, home insurance, etc. By working the numbers ahead of time, you can buy with confidence. We can help you by looking up local taxes, typical utility costs, transportation expenses and other items you might be overlooking.
Always seek pre approval before going out to look. Pre-approval helps you in several ways: you will know exactly the price range you need to work within, you will be able to provide a letter indicating preliminary approval to demonstrate to sellers that you are financially strong enough to buy their home, and you will avoid being rushed into making a less-than-perfect financing decision in order to close a deal.
- If I am buying a home, how much of a down payment will I need?
Today’s market has as many lender programs as lenders. One of them could be just the one you need. Looking for 5% down? Common. Ask the lender what percentage you need to get the best available rate. Then see what happens to the rate if you go just below that. You may decide to save a little more.
- How does home buying affect taxes?
In this area, taxes are not reassessed when you buy a home. They might be reassessed if you do improvements, however, and you need to look into that for your particular location if you plan to renovate significantly.
- I am thinking about retirement: Do I need to downsize?
Many seniors are finding the idea of aging in place very attractive. With 80-90% of retirees thinking about this option, the question is, what type of home would allow this option. If the costs of moving to a new home would be greater than you can manage, you may choose to stay where you are. However, many retirees are looking for different locations or less maintenance. The good news for those seeking homes for sale in Wayne or other Main Line communities is that our state was recently named one of the best 7 states in which to retire! (link)
Call Sage Realty to Find Great Homes for Sale in Wayne PA and the Main Line
Realtors® Linda Walters and Tracey Carney are knowledgeable and experienced in helping buyers find the perfect homes for sale in Wayne, PA. Tracey is also a specialist in walkable communities, so if you are looking for the convenience of a home that is close to work and play, she can help! Call today to learn how we can help you find your perfect home in Main Line PA!
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