This past year and a half I have noticed here in Mason City a real spike in the shortage of well maintained homes and apartments for rent. The rentals that are available seem to be overpriced for what I would consider to be market rent. So many times over the years of working with first time buyers, I have found the fear factors with tenants who are considering buying , to be that perhaps they are overpaying for the home and that they will be strapped to a mortgage for the next 30 years. Another misconception with first time buyers, is that they think they have to come up with a huge chunk of money to cover the down payment and closing costs.
Many of their fears are unfounded in that most buyers don’t stay in the same home for likely anymore than 7 to 10 years. During that time, if they take care of the property, it will likely appreciate in value so the home should sell for more than what they paid for it. With the variety of loans available at banks, most first time buyers will have little or no out of pocket expense due to grants from the State of Iowa and money concessions from the sellers.
This is where Holtz Realty comes into the picture. We at Holtz Realty work diligently with the first time buyers in educating them as well as finding the best valued home in the market. Partnering with first time buyers over these past 70 years of doing business in North Iowa has continued to plant the seeds for future growth. With that said, if you are presently renting and thinking about buying, take a moment, pick up the phone and call us. We will be glad to answer any questions you may have about purchasing your first home.