Frequently Asked Questions

Yes, a home can depreciate in value under certain circumstances. Factors such as poor maintenance, economic downturns in the area, changes in neighborhood demographics, environmental hazards, or oversupply of housing can contribute to a decrease in a home’s value over time. Additionally, specific features or design elements that become outdated can also lead to depreciation. However, it’s important to note that while homes can depreciate in value, they often appreciate in the long term, especially in areas with strong economic growth and high demand for housing.

Older homes may offer affordability and character but might require more maintenance. New homes provide modern amenities and less immediate upkeep but might lack the charm of older properties. The choice depends on your preferences, budget, and willingness to handle maintenance and renovations.

A broker is a licensed professional who facilitates transactions between buyers and sellers. In the context of real estate, a real estate broker assists clients in buying, selling, or renting properties. They typically have extensive knowledge of the local real estate market, negotiate deals on behalf of their clients, handle paperwork and legalities, and provide guidance throughout the process. Brokers may work independently or as part of a real estate brokerage firm. They often earn commissions based on the value of the transactions they facilitate.

Yes, you can pay your own taxes and insurance. This means you handle the payments for property taxes (money you owe to the government for owning your property) and insurance (money you pay to protect your property in case of accidents or disasters). Instead of including these costs in your mortgage payment, you manage them separately by making payments directly to the tax authority and insurance company.

The loan process duration can vary depending on several factors, including the type of loan, the lender’s processes, your financial situation, and the current state of the housing market. However, a typical mortgage loan process can take anywhere from 5 to 45 days on average from application to closing. Please contact us for more detail.