IN Brentwood-Baldwin-Whitehall Summer 2016 | Page 22

S P E C I A L S E C T I O N : R E A L E S TAT E

Real Estate in

Brentwood-Baldwin-Whitehall
*Information from realtor.com/local

Homes for Sale: 400
Median Listing Price: $143,000
Median Closing Price: $135,000

1 BUYING: Is buying always the better

option over renting?

This is a debate often discussed within the real estate market and
the answer depends on a variety of variables including location,
financials and length of time in the home. In general, it is advised
to purchase a home if you plan to spend more than two years
there. Not sure how long you’ll be in your home? Find the
break-even point between renting and buying to help guide your
decision.

2 BUYING: Be sure you can afford more than

just the mortgage.

Getting preapproved for a mortgage gives the buyer a sense of
how much house he or she can afford, but don’t presume this
figure to be your only monthly payment. Keep in mind costs that
may not be as evident, such as utility bills, taxes, homeowners
association dues, mortgage insurance and money needed to
furnish your home. On top of that, consider closing costs (about
3-5 percent of the cost of your home) and the potential of paying
private mortgage insurance (PMI) if you are unable to put 20
percent down on your home.

20 724.942.0940 TO ADVERTISE | Brentwood-Baldwin-Whitehall

3 BUYING: Getting an inspection can save

you money in the long run.

Inspection fees can range from $300-$500, allowing some to
think they can save money by avoiding an inspection. In almost
all instances, this is false. Many issues in a home may go unseen
by the untrained eye. If an inspector reveals defects not disclosed
by the seller, you are able to negotiate a new offer or rescind
altogether. Without an inspection, these potentially costly issues
would ultimately fall on the buyer’s shoulders.