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Newspaper Archive of
The Talbotton New Era
Talbotton, Georgia
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February 22, 2018     The Talbotton New Era
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February 22, 2018
 

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::::::::::::::::::::::::: Sl#ing Is Approaching! "H( w strange that Nature does not knock, and yet does not intrude!"- Emily Dickinson home is the most costly thing many people will ever buy. The process of buying a l ome can be both exciting and nerve- wr cking. One way to make the process of buy:ing a home go more smoothly is to save enough money to put down a substantial down payment. Saving for a down payment on a home is similar to saving for other items, only on a far grander scale. Many financial planners and:real estate professionals recommend prospective home buyers put down no less than 20 percent of the total cost of the home they're buying. Down payments short of 20 percent will require private mortgage insur- ance, or PMI. The cost of PMI depends on a host of variables, but is generally between 0.3 and 1.5 percent of the original loan amount. While plenty of homeowners pay PMI, buyers who can afford to put down 20 percent can save themselves a considerable amount of money by doing so. Down payments on a home tend to be substantial, but the following are a few strate- gies prospective home buyers can employ to grow their savings with an eye toward making a down payment on their next home. * Decide when you want to buy. The first step to buying a home begins when buyers save their first dollar for a down payment. Deciding when to buy can help buyers devel- op a saving strategy. If buyers decide they want to buy in five years away, they will have more time to build their savings. If buy- ers want to buy within a year, they will need to save more each month, and those whose existing savings fall far short of the 20 per- cent threshold mayhave to accept paying PMI. Prequalify for a mortgage. Before buy- ers even look for their new homes, they to determine how much a mortgage they will qualify for. Prequalifying for a mortgage can make the home buying process a lot eas- ier, and it also can give first-time buyers an idea of how much they can spend. Once lenders prequalify prospective buyers, the buyers can then do the simple math to deter- mine how much they will need to put down. For example, preapproval for a $300,000 loan means buyers will have to put down $60,000 to meet the 20 percent down payment thresh- old. In that example, buyers can put down less than $60,000, but they will then have to pay PMI. It's important for buyers to under- stand that a down payment is not the only costs they will have to come up with when buying a home. Closing costs and other fees will also need to be paid by the buyers. Examine monthly expenses. Once buy- ers learn how much mortgage they will qual- ify for, they will then see how close they are to buying a home. But prospective buyers of all means can save more each month by examining their monthly expenses and look- ing for ways to save. Buyers can begin by looking over their recent spending habits and then seeing where they can spend less. Cutting back on luxuries and other unnec- essary spending can help buyers get closer to buying their next home. Avoid risky investments. Some times it's great to take risks when investing, but risk should be avoided when saving for a down payment on a home. Traditional vehi- cles like certificates of deposit, or CDs, and savings accounts can ensure the money buy- ers are saving for their homes is protected and not subject to market fluctuations. Saving enough to make a down payment on a home can be accomplished if buyers stay disciplined with regard to saving and should first sit down with a mortgage lender make sound financial decisions. YOU CAN SAVE FOR THAT DOWN PAYMENT - To make the purchase of a home go smoothly it is important to have the down payment and you can do that. ing/dining offers natural light, quaint den and eating area, 10is of doNets and stor- age throughout, quaint side porch fea- tures pretty tile floor. Nice yard with an abundance of flowers and a rock patio. ~CI se t0 t0wn. $99,900. Attention Investors! 2BPJIBA HOME ~ ~ offersl340-,-sqft, spacious rooms, coun- 156 Crooked T. D r,ve. W.r~S n~.I II,~,~ " try kitchen, largo bath and high callings. Vinyl exterior with covered front porch on . CHARMING LOG CABIN ON S.94 706-975-4591 ~.4~.~=. ~r~ ~=~' ~ac~ 609 Jackson Lane / = = 26acrelot. Taxes are less than $5OO per ACRES, G=. paved .rI y. 706"846"2000 year. City utilities. This property would parking pad & t~/o car carport. yard~ , Vault~:l ceiling & floor to ceiling I . I I il Manchester, GA I 706.5752884 make a nice rental investment property, rook fll-~pl.~ In living ~~ O " t05 ,lamti0n Dnve, Warm Sprin,s 1/~1 uTD R LIVING WITH POND RIGHT IN/ ~ ~ i"~i~~llE~:~:E"~::~~---~h~--~-----:~'~ ~o"ob~dm~,~k I I I " " " I / ~m~ ]TOWN - Bnck home built in 1964 offers 1769 / erem/kltehen. Full length beck CRAFTSMAN & STONE ACCENTSl /~~square feet. 3 bedrooms and 2 full baths:/ B Warm ~pnngs, GA ,'~ooklr~.~,' "u~.~ ~:~ ~,~ '~: ~:,~ ~o~'~ ON. ,E~r E ~O R-Built in 2008~is, sPl~.l /~Spacious open great room features afireplace / ~ mSR,CK HOME ON g.~.ACRES - This home "' I I~ ~ ~ great room with fireplace kitchen with I I anu oners ~o~ o, nature, ~g,t. =(a i. N,~ ~, ,a~ / ~ [] place is neat as a pin! Through front door of ~ ~. M= beth on main level orI I1~/:!1 all appliances, dining a;ea featuringI I ~ s'- ~ I -. doorsthatleadint0acouityard area. Property/ ~~covered front porch,enter the living room # "r-" b~dr~m&fullb~thonmmlnlevelor I I ~:.-::i:i:.:: hardwood floonng, huge master clos-I / ~11 rll~=l we.~nam also includes hardwood flooring security sys-/ ~w/odginal hardwood floors and separate dining 701 7 I t~ front I:~c-'~h.f~n =~dp~lP" "~ et, separate arden tub & shower in ~~~alsewithhardwoodfloodng. Home offers 2 spa- Call ~ ~ tem 2 car garage huge deck and ~ty utilities II master bath. (~ntral heat & air is lessl / "l~l~ ~PJ~ I~t'l~" ' ' '/ ~ ~cious bedrooms & 1 full I~,ed bathroom and II : ~taut ~m than 1 year old, newer carpet, fencedI I IVD'~I I'V&gl $108,000. l ~ ~kitchenwtdle4ooklinoleumfloers, updatedfo~mi- Oh~ ~.II ~L Dj iij~ ~ (~ ~.~ I I ' my backyard, dbl garage on 1 acre Iot.I [ ~ ~ ca counters & backsplash, range and reffiger- O'~U'~""="~"','''"'~"~I I I or ~'7~P~4 County taxes only. $129,900. 100%1 ~ Call Hillary Evau Fly~m ator included! Property includes fenced back- I I - USD,~Financing Available.I ~" ~ - - A ~ "ttW,-~-"tUlCG;I yard, 12X20 outbuilding, chicken coop, 1 car ' zu Per', Manchester, I pl 2carcarpod.$97,500 ~ATEHOMEON38+W00DEDACRES I Ily ROL.~ ST MANCHESTER,'~:::A'TE=,?hisl ~[IIF~NDI -~prope~isan outdoors- I v 2 LnT.q & / o" 1 118 East 2nd Street Manchester ~~ ~~ .m ~es~e~s.wo~,s,ops~' ~nghunU"9'r~in~'~e"~ II ~, !~- i ,~F,~,vv~ v ~. baths,all now tasteful floor Coverings, HOOME THAT NEEDS A LOT / ~~~ ~r~r~:n~l ~ "=~m~'~ ~s, all tuck~awaywithout I ~ : ~.=~Bil nFTLP.THIS ISA DIAMOND /~ ~,s~t i new kLtchen appli-I ~~j~~~llllyrOOIIl~{l(~iil~llO~O~rli~rl~l~''"v~J~3be(i'0om~2fuibah,~h0m~l~01man01~ ~r~que pondI~((e!sc~eened front porch over- I i~. ,' v v I ~ .~Jl ancesn tt exceed$1500withaccePt-I IN THE ROUGH!!! Y0uc0uld I ' able Offer. Even the front door is new. ~ Inten0r offers open~:oncept 4BR/3BA, 1920 I boon rep,ace~ i y 7S /o o, Call ~~ ~ a 5~.~ t repa r and lNe m or Start Over / Ca, Mo c. evans ~a,0ndedulcb~f~t==d~l~i(malaM~0rdr00nl " carportTad rti0 nal I =O.~L" ~ / 706-846-2000 ~ replaced. ExtoriorisI 7~'~5 '4~1 ~ '~t'for RV/Camper/Tmct~. $243,000. I ~r~r'~ e~-~ mN l vinyi~u bckyard&cityut"ities.I I CallPip~rOrsel1~l Ih~{2)g]db~iJMd~{t~L~OittOtO~tOOIp.~ll~fft. J Evans Realty Is a Georgia MLS Member & Columbus MLS Member