May 2016

You don’t have to be a mortgage guru to save money on your next home purchase. We’ve put together this list of lesser known facts and tips so that you can gleam some of the best advice we’ve learned in our 12+ years of real estate experience!

• You don’t need a 20% down payment to eliminate PMI. Private Mortgage Insurance generally costs $65-256 per month. In order to reduce their monthly costs, many buyers try to put down 20% or more to eliminate PMI. However, if you don’t have that much cash to put down, you can opt for a single premium option where you pay a one time amount (and never have to make that PMI payment again). Over the life of the loan, this route usually costs 1/3 of the total amount compared to making the old fashioned monthly

According to the National Association of Realtors, millennials make up 31% of home buyers. This group of buyers could make up a substantially larger percentage over the next year. We’ve put together these quick tips specifically with millennial home buyers in mind:

• Resale is especially important since this will probably not be your forever home: Think of real estate as an investment. Chances are that you’ll sell this home and buy another one that’s larger or in a different area within 5 to 7 years. You’ll want your home to appreciate as much as possible so that it will sell easily (and for a good profit) when the time comes.
• Financing might be harder than you think: When you know that purchasing a home is in your near future, go ahead and

For many home buyers, public schools are not a factor in finding a neighborhood or home. These buyers assume if they don’t have kids, the quality of schools won’t make a difference in their home purchase. However, every buyer should consider resale and overall value when purchasing. For most people, a home is the single largest investment they make in a lifetime, so it’s important to choose a property that will increase in value as much as possible. Here are 3 reasons why you should take into account the public schools for an area – regardless of whether you have school aged children.

Obvious Demand from Parents and Teachers

Homes that have more buyers viewing their listing go under contract faster (and usually for more money). Selling a home is