When the opportunity presents itself, and you find yourself in the position to pay all cash for your new home, you may wonder if buying the home outright is a beneficial course of action. You’ll naturally want to have the house fully insured to protect your investment. You’ll also need to be responsible for your annual property tax payment, as the lender typically rolls the fees for taxes into the mortgage payment.
Read on as we explore five of the benefits of buying your new home with cash in Hemet.
No Interest or Closing Costs
One of the financial benefits of buying your new home with cash in Hemet is saving tens of thousands of dollars on interest for a mortgage loan and avoiding closing costs. Even with interest rates currently low at 3.68 percent, with an average home value of around $375,000 and a down of 20 percent, or $75,000, you’ll pay $196,000 in interest alone over the next 30 years.
No Qualifying Hurdles
When buying a home with cash in Hemet, you can bypass the long line of buyers who need an underwriter’s final approval. This is because the power of cash backing your offer allows you to meet all of the qualifications for the loan. So if you’re looking to buy a new home quickly, cash is definitely the way to go. Contact one of our knowledgeable agents today to learn more about the benefits of buying a home with cash in Hemet.
Another benefit of buying your new home with cash in Hemet is that you’ll be walking away with the total amount in your hands. You could acquire a home equity line on the property with ease if you ever desire. When you exit your property in the future, without any debt, the profit is all yours. Even if the market temporarily fluctuates negatively, you’d never be upside down in the home because there’s no mortgage.
First In Line
Standing out against the competition is another of the benefits of buying your new home with cash in Hemet. Sellers understand the possibilities of buyers who require financing having their loan denied after weeks or even months of haggling over the deal. Offers from cash buyers come without this risk hanging over your head, which gives you the power to bargain.
The ability to close quickly is another potential money-saving benefit of buying your new home with cash in Hemet. In addition, sellers know they will avoid the time-consuming and complicated process of traditional financing, which is attractive to sellers and can provide you with another tool to negotiate a lower price. Finally, working with an experienced negotiator who knows how to delicately navigate these waters as your representative may be wise as these situations can become highly tense and emotionally charged.
At Stars and Stripes Real Estate, we know all of the benefits of buying a new home with cash in Hemet and can help you through the process. The professional investors at Stars and Stripes Real Estate understand that clear communication begins with listening, so we stop and take the time to learn about your unique circumstances, working together with you as a team to achieve your dreams. At Stars and Stripes Real Estate, our goal is to help you make educated decisions so you’ll be confident you’ve made the best investment with your hard-earned money long after closing, and we don’t work on commissions. Don’t forget to ask about our current inventory of the best properties available in Hemet. Why not benefit yourself further by working with the professional investors at Stars and Stripes Real Estate who have decades of experience. Contact Stars and Stripes Real Estate today at (844) 932-8943 to learn more!