In today’s housing market, buying a house can be a troublesome task. Buying a house with all cash seems almost impossible. With the state of the U.S housing market as it is most people’s first option when it come to buying a home is to take out a mortgage or a loan. However there may be some better reasons or benefits to purchasing a home with just cash. call today Yuval Golan
Using Cash To Purchase A Home– Before you make any decisions regarding the purchasing of a home you should always make sure you have all you finances in order. Although there can be benefits to buying your home on a strictly cash basis, beginning any legal transactions before you are sure you have all you affairs in order can lead to much worse consequences down the line.
Advantages Of Buying Your Home With Cash by Yuval Golan
Yuval Golan say: When you go to purchase a home you may be surprised to find that there can be some advantages to doing so such as:
- Yuval Golan say: “Sellers are likely to favor buyers who pay with cash”- Making a cash offer on a home can not only show the seller that you are serious about making the purchase, it can also help to lower the price of the house as the seller is more likely to give you a discount on the home if you have the cash upfront. If you are in a bidding war for a home against many people being able to show the seller that you have the cash upfront and available may be the key that helps you win the bidding war for your home.
- “Cash buyers can save money on closing costs, bank appraisals, mortgage applications and fees, title insurance, and so on”- Anyone who has purchased a home knows that there is more to the process than just simply paying the money for your home. If you take out a loan you have all sorts of fees associated with your loan as well as interest. Paying for your home with cash will eliminate the extra costs that come along with purchasing a home.
- “Cash purchases eliminate the risk of loan denial”- On of the worst feeling you can have is to find a home you are truly in love with put in an application for a loan only to be denied. When you pay for a home with cash you can eliminate the lengthy loan process altogether as well as the risk of being denied a loan. call Yuval Golan Today
- “Cash buyers pay less for their home in the long run:No loans means no interest”- With all the ins and outs associated with buying a home you can be sure that over time you will be paying much more for your home than you would had you paid for you home with cash.
- “Cash buyers never have to worry about losing their homes because they can not afford to repay their mortgage loans”- We all know of people who took out a loan for a home and 10 years and 2 kids later they are still paying off mortgage loans. Buying a home with cash will save you years of sleepless night wondering how on earth you are going to pay your mortgage bills.
- “Cash buyers gain full, immediate equity of their home”- When you purchase a home with cash you gain the advantage of knowing that your home is yours outright. This means you are 100% owner of your home and get any and all profit should you choose to sell your home later on.
How You Can Buy A Home With Cash.
If you are looking into buying a home with cash here are a few tips for you to consider.
- Set aside windfalls(work bonuses, inheritance etc).- Chances are you do not have the money to purchase a home just laying around. Setting aside extra unexpected money is a great start to being able to purchase your home with cash. Money that you receive in the form of gifts, bonuses, business ventures, as well as inheritance will add up over time and may be the key to being financially able to purchase a home with cash.
- “Lock money into a long term CD to gain interest”- Putting your money into a long term CD will allow the value to mature and gain interest that can be helpful over time when you decide to purchase a home.
- “Once you have the money available, look to buy a home you can afford without having to take out any extra loans”- One of the biggest benefits of buying a home with cash is freeing yourself from extra charges, mortgages, and other loans. Look to purchase a home with the money you have already available so that you do not have to take out a loan and end up paying thousands extra in the long run.
- “Consider buying a home in a less populated area away from the city where homes may be less costly”- Living in the city can become very expensive. Choosing to buy a home outside of the city will not only save you on the cost of a home but the taxes and other expenses are generally cheaper as well. By purchasing a home not far from the city you can save on costs but still have the convenience of being close to the city should you ever need to go.
- “Avoid the temptation to waste money”- If you are serious about trying to buy a home with cash make sure you set up a good budget for yourself. It is also helpful to let friends and family know your plan so that you can avoid the pressure to spend money on things such as movies and nightclubs, that you could be putting towards purchasing a home.
Disadvantages Of Buying A Home With Cash.
Although it may seem like there are no downsides to buying a home with cash, there are a few disadvantages that you may not know about to buying a home with just cash:
- “Loss of liquidity”- Buying a home is no small expense. Although the feeling of owning your home outright may be a great one, it does not mask the fact that such an expensive purchase almost always leaves you with low liquid assets that may be needed in cases of emergency. Before you buy a home you should make sure you have enough money available to cover the purchase as well as have some extra in case of any unexpected emergencies later on. Houses are not considered liquid assets so if you were ever to need to come up with cash in case of an emergency you may find yourself taking out a loan which is defeats the purpose of buying a home with cash in the first place.
- “Limited tax deductions”- Buying your home with cash outright may also work against you in the fact that there are limited deductions available compared to homeowners who pay a mortgage. This may be a more problematic situation for young couples who are purchasing a home for the first time. Real estate companies such as Yuval Golan can help you figure out what the best option for you is when it comes to buying or selling your home with cash.
- “Estate Planning”- When it comes to dealing with your estate after you pass on, paying for your home with cash can make things a little bit tricky. Because your home was purchased with cash should you decide to give the home to a child or other family member after you pass the receiving party will often be subject to “gift tax” which depending on the value of the home may cause problems if whoever the home is given too can not afford to pay the tax.
Fast Cash For Your Home:Yuval Golan
When we choose to buy or sell a home we obviously want the best offer possible. However if you are not acquainted with the real estate market you may be missing out on things you could be doing to maximize the amount you get for your home. Yuval Golan is a real estate company who specializes in buying and selling houses for cash. To maximize the potential profit of buying or selling your home Yuval Golan has a few helpful tips:
- “Make your house welcoming”- This may seem like an overly obvious statement but it is one of the biggest things you can do to maximize the value of your home. When people are looking to purchase a home they often look at photos on the internet first. The way you present your home will have a major effect on the response you get. Be sure to make sure you post photos that are flattering to your home and gauge any potential buyers interests. Show off the great assets your home has to offer, including things like special built in appliances, or great view from a particular room or rooms.
- “List your house on famous online portals”- With the growing popularity of online real estate platforms and social media, real estate investor Yuval Golan suggests that you be sure to post your listing likewise. Social media is an especially effective way of getting attention for your listing for those looking to sell their house for cash. In particular popular social media sites such as Facebook and Twitter have become a very effective means of listing homes for purchase or sale. Yuval Golan also suggests that you look for current trends going on in the real estate community and consider incorporating some of those into the showing of your home as well as your online listings.
- “Make sure the listing has an attractive picture of your home”- Another seemingly obvious but surprisingly overlooked way Yuval Golan can help you maximize the cash sale of you home is to make sure you have an attractive picture in the listing of your home. Of course you can take photos of your home yourself, but consider hiring a professional photographer to help you truly capture the beauty of your home.
- “Provide information about the neighborhood”- When people are looking to purchase a home they not only check out the house itself but also the surrounding neighborhood. To help gain interest in your home try to include so useful as well as interesting information about the neighborhood in which you are located as well. Information about schools, places to eat as well as any popular tourist destinations are a great way to garner interest from potential buyers.
- “Set The right Price”- Before you can eve begin the process of trying to get quick cash for your home you first need to set the right price. Although you want to get the most you possibly can for your home you need to be realistic with the price. Although you may be tempted to set a high price even though you are really okay with getting less, you should exercise moderation in this practice. Try to keep your price realistic so that you do not come off as being unrealistic, overzealous, or scare away potential buyers.
Why Choose Yuval Golan
Getting help with ways to get the most cash for your home has never been easier with Yuval Golan. With plenty of experience his expertise has helped many people maximize the amount of cash they received for their home. Located in Queens New York City, New York Yuval Golan is quickly becoming one of the premier destinations for people who are looking to either buy or sell houses for cash. If you are someone who is looking to get fast cash for your home Yuval Golan is the place to go. Because the housing market can be a particular hassle for people to navigate you will be glad to have Yuval Golan’s expertise on your side.