How To Make Your Dream of Homeownership a Reality with AgentOwned

In South Carolina, finding the ideal place to settle down is crucial, and having a local real estate expert like AgentOwned Realty by your side can make all the difference. When considering the best places to live in Charleston SC, AgentOwned emerges as the top-rated brokerage in the area, offering guidance and expertise in Charleston Real Estate.

As per a recent Harris Poll survey, 8 out of 10 Americans prioritize buying a home, with a staggering 28 million Americans planning to make this move within the next 12 months. The desire for homeownership is well-founded, given the multitude of financial and non-financial benefits it entails. However, achieving this goal within a year might be challenging, considering the projection of approximately five million home sales for the year 2023. This discrepancy can be attributed to the inherent challenges associated with the homebuying process.

The survey highlights common hurdles that individuals face when pursuing homeownership:

• 34% cited insufficient savings for a down payment.
• 30% pointed to their credit score.

For those striving to purchase a home, here's what you need to know to overcome these obstacles:

1. Save for Your Down Payment: The down payment is a significant upfront cost when buying a home. Contrary to a prevalent myth that 20% of the purchase price is mandatory, the National Association of Realtors (NAR) reveals that the median down payment today is 14% for the average buyer and just 6% for first-time buyers. There are various options available to help you reach your down payment goal, such as assistance programs and different loan types, including FHA loans with down payments as low as 3.5% for some buyers.

   Tips for saving for your down payment:

   • Consider closing costs, typically ranging from 2-5% of the home's purchase price.
   • Preserve some savings for post-move-in homeownership expenses.

2. Improve Your Credit Score: A favorable credit score enhances your ability to secure a loan with better terms. Maintaining a good credit score involves paying bills on time and diversifying your credit portfolio with various types of credit.

   Tips for improving your credit score:

   • Ensure timely bill payments by setting up automatic payments.
   • Diversify your credit profile with a mix of credit types like auto loans, credit cards, and mortgages.

If homeownership is your goal this year, connect with a trusted real estate advisor like AgentOwned Realty. They can help you assemble a team of professionals and guide you through the process of preparing for this significant milestone, considering factors like the weather, schools, jobs, and climate in South Carolina.

If you’re looking for your dream home, or if you need to sell your existing home, we can certainly help, our agents are ready and able! Agent Owned is a full service brokerage that can assist you in getting pre-qualified to loan approval. We can help you with title insurance, home insurance and the warranties you need to protect your most valuable asset. At AgentOwned, we have helped thousands of people buy and sell their homes, we have been in business for over 30 years and know what it takes to get the job done right the first time. 

Each agent has access to a team of qualified professionals from attorneys to mortgage specialists and access to a knowledge base of highly experienced Brokers that can handle any situation. Find the right agent now at: https://www.agentowned.com/all-agents 

To learn more about South Carolina including schools, employment and more see: https://www.agentowned.com/moving-to-south-carolina 

If you’re interested specifically in the Greater Charleston area see: https://www.agentowned.com/moving-to-charleston-sc 

If you’re looking for information about Manning, Sumter and the Lakes Area, see: https://www.agentowned.com/moving-to-manning-sumter 

And if you’re interested in the greater Anderson area see: https://www.agentowned.com/moving-to-anderson