The American Dream of Home Ownership Lives On in Singer Island!

Mar 21st 2011

Posted By: Jimmie McAdams @ 12:43pm In: General
Tags: condos, vacation homes, oceanfront, singer island lifestyles, singer island condos, where is singer island florida, resort, the mcadams team

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When it comes to today’s housing market; there are mixed reviews on the best course of action. Some feel that buying a home is no longer a practical American Dream and that it’s best to rent in order to avoid being left in foreclosure by a shaky real estate market. On the other hand, many feel that the American Dream of owning a home is still alive and well!

As Singer Island Real Estate agents, we find ourselves in the midst of continuous real estate updates, predictions and our own experiences with Singer Island buyers and sellers. We feel that we have a finger on the pulse of all things real estate and can therefore, help buyers determine the best course of action for buying a home in Singer Island! We strongly believe that, with low interest rates and rock bottom prices on luxury Singer Island homes; buying now in the Singer Island Real Estate market is a very smart financial decision! There is, however, a balance that needs to be maintained when buying a Singer Island home.

As with most everything, balance is a key element. We know that the dream of buying a home is not dead as some may think, but we also know that practical wisdom is needed when buying a home! Recently Warren Buffet, who happens to be the third richest person on the planet, gave three great tips for buying a home in today’s real estate market and we happen to agree! His savvy financial decisions have afforded him the opportunity to be where he is today, and his insight into the real estate market is worth repeating.

Here are the three basic steps that Buffet points out as essential to buying a home in today’s housing market.

1. Ditch your "dream home" for a practical pad- Buffet notes that "a house can be a nightmare if the buyer’s eyes are bigger than his wallet and if a lender . . . facilitates his fantasy." The bottom line? Don’t buy a home you can’t afford! The goal of home ownership should not necessarily be your “dream home”, but an affordable home. Luckily for us in Singer Island; you can have both! Luxurious properties around the island are very affordable!

2. When you buy, plan to hold- Buying a home should not be an investment that you’ll only be able to handle for a few years. A wise investment would be one that you can sustain for at least ten years. Buffet, although worth $50 billion, has chosen to live in the same house he purchased fifty-two years ago! He knows the value of investing and understands that markets can quickly change; therefore a ten year investment will more than likely withstand the ebb and flow.

Buying a Singer Island home should reflect that same rule of thumb! As Singer Island Real Estate agents, our goal is to help you find a home on Singer Island that is one that you’ll be able to enjoy for years to come! We can walk with you through the ins and outs of buying a Singer Island home and help you find an option that fits your lifestyle, as well as your long term budget!

3. Mortgages should have fixed, affordable payments- Buffet also holds a very successful housing company that has withstood the economic storm. "Our approach was simply to get a meaningful down-payment and gear fixed monthly payments to a sensible percentage of income," he noted. The idea he stresses should very well be the basis for any real estate investment: a solid down payment and fixed monthly payments.

If you follow these three steps when buying a home on Singer Island; you’ll ensure your long term enjoyment of living in this beautiful paradise! Again, as Singer Island Real Estate agents, we want to help you find your permanent, or vacation home on Singer Island that will prove to be a wise financial investment! We would enjoy the opportunity to show you around Singer Island and answer any questions about the Singer Island Real Estate market that you may have!

We understand that buying a home is a large investment, and will help you determine your long term needs and assist you in finding the Singer Island home that reflects your dreams and budget. Please feel free to contact us today to get started in your Singer Island home search!