Growth and Thoughts about Real Estate

Smart ways to turn your tax refund into Homeownership

Home buying (and selling) season usually kicks off around Tax Day in early Spring! For most the scramble to save as much as you can prior to buying a home can seem daunting, Closing costs, down payment, inspections and earnest money oh my…. Here are some of the top ways you can spring forward into homeownership this spring and use your hard earned dollars to help.

1. Pay down debt – To purchase a home you need a credit score of 580 or higher and this is a crucial factor to determine your eligibility in obtaining a loan. Increase your credit score and lower your debt to income by paying off high interest credit card debt. For other tips on what should be paid down it's a great idea to speak with a lender.

2. Down Payment– Depending on what loan you and your lender choose you will need 3.5 percent -5% down this is a total amount based on the purchase price of the home you choose. That IRS windfall you were not counting on can really add to what you have saved quickly.

3. Earnest Money Deposit- When you find the perfect home you will be required to give a deposit which is called Earnest Money. This amount will later come off the total down payment and closing cost amount needed to secure your loan. This Earnest Money is given within a few days after a contract is signed and usually equal to 1% of the home price. on a $200,000 home most sellers like to see $2,000. as Earnest money.

4. Home Inspections- While it is not a requirement to get a home inspected before you purchase it, we always recommend you do so. It's a good idea to make sure you're not getting in over your head or that something will cost more than you budget for repair. Home inspections are completed within the first 5 business days a home is under contract and typically range in price based on the home square footage.

5. Savings- Start that rainy day fund. A great rule of thumb is to have 6 months worth of mortgage payments in an account in case you should ever need it to fall back on. Sometimes when owning a home you have unexpected maintenance costs. Having money aside can release you from the financial burden.

6. Build Equity- Not every home is move-in ready and currently lots of deals on homes that need a little bit of work, build some sweat equity with your savings and make some simple renovations that can help you increase the value of your home exponentially.

Thinking of taking the plunge into homeownership? Reach out to us and we will get you on the right path! In the meantime have fun searching what is currently For Sale! @ www.Jenniferhayrealtor.com 

Around the Neighborhood

Phenomenal new construction in South West Ocala with builder offered  Interest Rate Buydown 

stunning new home in Oakridge Estates! Here's a breakdown of the key features:

• Beautiful semi-custom home: This implies the home offers some degree of customization while still being part of a development.

• Location: Situated in Southwest Ocala.

• 3 bedrooms, 2 bathrooms: Perfect for a family or those who enjoy extra space.

• Bonus room/office: Provides additional flexibility for your needs.

• Open floor plan: Creates a spacious and airy feel.

• Custom cabinetry and granite countertops: High-end finishes that add style and value.

• Luxury plank vinyl flooring: Durable, stylish, and easy to maintain.

• Craftsman-style exterior with stucco and stacked stone: A timeless and attractive design.

• Peaceful dead-end street location: Offers tranquility and minimal traffic.

• Oversized lot: Provides ample outdoor space.

• Custom light fixtures throughout: A thoughtful touch that adds personality.

• Builder credit: $10,000 towards a rate buydown to help reduce your mortgage payment.

Does this  seem like a great opportunity to own a beautiful new home in a desirable location? If you're interested in learning more about Oakridge Estates or this specific property, Give me a call today @352-207-3600

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Here is a favorite cheesecake recipe courtesy of a family friend who lives in Texas and those Texans know how to make everything good, every year for every holiday someone in their family requests her famous cheesecake.

Crust:

1 1/2 cup of graham cracker crumbs

1/2 cup sugar

1 stick of butter

*special ingredient Cinnamon 1 T sprinkled in

mix these ingredients together with a fork and then press into the bottom and up the sides of your springform pan.

Filling:

combine

2 packages of cream cheese

1 cup of sugar

1 tsp of vanilla extract

3 eggs *added in 1 at a time    (pour the filling over the crust and bake for 60 minutes at 350 degrees

This last step is what really makes it different !

Topping which is going to be put on after your cheesecake is finished baking for 60 minutes

1 pint of sour cream (16 ounces)

1/2 cup sugar

1 tsp of vanilla extract

1/2 tsp of cinnamon ( mix all together for a creamy top to your cheesecake, spread evenly and bake for an additional 15 minutes at 350 degrees)

  It is recommended to add  fresh strawberries and whip cream. You could add any fruit or topping of your choice!