Rexburg

Buying a home in the Rexburg area should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a Rexburg real estate agent who you connect with. Buying a home in Rexburg is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you choose; they need to be both highly skilled and a good fit with your personality. Sally’s many years in the Rexburg area will help you through this emotional process of buying a home.

2. Remember, there’s no “right” time to buy a home in Rexburg, just as there’s no perfect time to sell. If you find a home to buy in the Rexburg area now, don’t try to second-guess interest rates or the housing market by waiting longer – you risk losing out on the home of your dreams. The Rexburg housing market usually doesn’t change fast enough to make that much difference in price, and a good home to buy won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family – the people who will be living in the home and also trust the experience of your Rexburg area agent, Sally Smith.

4. Accept that when buying a home, none are ever perfect. If it’s in the right Rexburg area location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Rexburg area real estate is typically stable, which protects your investment for the future. Negotiation is give and take.

6. Remember the Rexburg home you want to buy doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself – room size, kitchen, etc. – that you forget about important issues as noise level, location to Rexburg’s many amenities, and other Rexburg area aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait to buy your perfect home in the Rexburg area and make an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers. Let Sally help you in contacting the right Rexburg area professionals to help you find a home to buy.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home in the desirable Rexburg area, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property and the Rexburg location that you purchased.

10. Choose a Rexburg home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually (and more in Rexburg) from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live. Welcome to Rexburg and happy home buying!

You’ve probably heard about the new Rexburg home buyer tax credit but don’t know the details. Well, here they are as of now. However, I’ll update you on any changes to the home buyer tax credit from the new administration and/or Congress.

1. How much is the new Rexburg home buyer tax credit?
Any new home buyer who buys a home between April 9, 2008 and June 30, 2009 is eligible for a refundable tax credit of up to 10% of the purchase price of their new Rexburg home. The credit is capped at $7,500.

2. Who is eligible for the tax credit?
The credit is for first-time home buyers (anyone who has not owned a Rexburg home in the previous three years). The credit is phased out for Rexburg singles earning more than $75,000 and Rexburg couples earning over $150,000 a year. A single taxpayer earning more than $95,000 or a couple earning more than $190,000 receive no benefit.

3. When can someone get the credit?
Anyone buying a Rexburg home during the proper period in 2008 or early 2009 can take the credit on their 2008 tax return. Those closing in 2009 can opt to take the credit on either their 2008 or 2009 return.

4. What can the Rexburg home buyer tax credit be used for?
You can use the tax credit for anything. Offset your Rexburg house payments. Make a down payment on a new car. Reduce your debts. Take a dream trip. The possibilities are endless.

5. Does the tax credit need to be repaid?
The credit functions like an interest-free loan. No payment is due for two years and then 1/15th of the amount is repaid each year on your taxes for 15 years. If you sell your Rexburg home, you are liable for the amount of the home buyer tax credit unpaid up to the gain on your sale.

Before you decide to use the first-time home buyer tax credit, please consult with your Rexburg tax advisor.