A Good Financial Advisor Is Worth Their Weight In Gold

A Good Financial Advisor Is Worth Their Weight In Gold

Even though our company’s specialty is helping professional athletes and entertainers with their relocation needs, this article will be helpful for anyone considering buying or leasing a home.  This has become one of the biggest decisions for professionals who relocate often: do I buy or do I lease? Considering the fickle nature of their occupation it is an understandable dilemma and one they really shouldn’t tackle alone.  I will touch on that fact shortly; right now let’s look at some questions and factors that might influence your decision.

1. Knowing the market: many people don’t understand that the real estate market can be vastly different from neighborhood to neighborhood.  You need to have specific knowledge about a specific neighborhood that you are considering.  What are the demographics? Where are the schools and are they good schools? What are the nuisance factors in that neighborhood? What is the inventory of homes in that neighborhood and how many days do homes sit on the market in that area? What is the long-term future of that area?
2. When leasing, ask the right questions: what is the length of the lease? Is there a security deposit? Are there late-payment penalties? What are the amenities? Is there an early-termination penalty? Are there restrictions? Is there extra storage space? Parking area?
3. Understand the contract:  Are there contingency clauses? Where do I find the best loan rates? What are the closing costs? Who pays the closing costs? What are points? Are there restrictions? Is there a neighborhood association and if so what do I need to know about it? Are there association fees?

Believe me when I tell you that the list above is only a starter list.  Let’s face it: buying a home is one of the most important investment decisions you can make in your lifetime.  It not only involves hundreds of thousands of dollars but it involves your happiness, your family’s happiness, your immediate security and your future security.

So, do you buy or do you lease? Probably the most important question you need to ask is how long am I planning on living in this home?  It has become the trend of late for professional athletes and certain business executives to lease in a new city because the nature of their careers does not promise long-term residency anywhere until they retire.  With a volatile and uncertain real estate market it just makes good sense to forego a long-term commitment to a home in favor of a short-term commitment to a lease.  For those of you who believe that they will live in the new home for the long-term then the present state of the market is less important because it is ultimately believed by real estate brokers that the market will rebound and values will increase over time.

The bottom line is this: these are important questions that the average buyer simply cannot answer by themselves.  It takes a professional who is aware of all of these factors to help you navigate through the real estate market.  If you are a professional baseball player and you have just been traded to St. Louis, do you know how the market is there? Do you know about the market in New York or Detroit or Miami? And yet once traded you have approximately three days to relocate.  There is no way a professional athlete can make an informed decision on such an important matter without the help of a financial advisor and real estate expert.

Take some time and consider these important factors.  Give us a call at SportsRelocation.com if you have any questions and the next time you face relocation consider working with our professionals so that you can concentrate on your profession.

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SportsRelocation.com® assists players/coaches of the NBA, WNBA, NFL, MLB, NHL, and Entertainers relocate nationwide by servicing your Real Estate & Relocation needs. SportsRelocation.com is a licensed real estate brokerage in Las Vegas, NV & Beverly Hills, CA.

The Sports Relocation team is waiting to hear from you. Our primary goal is to assist you with all of the challenges related to transitioning into your new home. Visit us at http://www.SportsRelocation.com or call us at 800-783-1421