What if you lose a job? What if you get injured and you can’t work for a couple of weeks, you know, those kinds of things. Um, so that’s just my word of caution out there. Don’t, don’t get the highest thing that you can get. What’s comfortable and what’s gonna work for your budget for great Trust Attorney Las Vegas? Well, there’s also a lot of expenses that you don’t, especially if you’re a first time home buyer, you don’t realize the expenses that come after the purchase. So if you’re buying a brand new home, you have to put in a backyard like I think you’re doing in your new home. Um, but it’s also furniture, you know, buying a fire extinguisher, random stuff, putting a lock on the back gate, it’s changing the locks on your door that you don’t know who has a key out and they add up,
got a whole bunch of hundred dollar expenses. Well, that turns into several thousand pretty quickly. A add that on top of furniture, moving expenses, all these different things, you, you, you get a pretty large bill after the home purchase too. So overextending yourself, you want to make sure you have cash in the bank and can afford the property. One thing that, that I’ve done and recommended for, for people, especially just starting is if you’re purchasing a home, look at the monthly payment and uh, try to see if, if rent in that area matches that monthly payment. Because if you get stuck in a situation where you have to relocate for your job or some unknown circumstance happens, uh, where you can still afford the home but it could potentially turn into an investment opportunity for you, it would be great that a renter can just come in and take over your mortgage payment and you keep the house and now it’s a wash for you financially, but you have someone essentially paying off your mortgage. And uh, that would be a great way to look at it financially as well as is trying to have it, um, match or even be under what rent is in the areas and provide top Trust Attorney Las Vegas for yourself.
Yeah. Ideally, it’s under, you know, but that’s the worst-case scenario. It pays off your mortgage and then you just, as expenses come up, you have it. And I think other expenses, first time home buyers don’t realize is, you know when the water heater goes out, you don’t have anybody to call. You got to go take care of that yourself. When your toilet starts leaking, you’d and have to call the plumber and pay them and all that. So home buying is great. I definitely recommend it versus renting, but just know there are added expenses there. And I think that’s, you know, more or less what we’re trying to do here with Trust Attorney Las Vegas.
You know, that’s actually, this is a good thing that most people don’t know about it. There’s just something called a home warranty. Have you ever heard of a home warranty? So, um, it covers things like the water heater, air conditioner, uh, you know, dishwasher, refrigerator, which are huge expenses again, especially for first time home buyers or, or maybe even move-up buyers a year, not expecting to pay $2,000 after all of your moving expenses and everything. Uh, and then your AC blows or your refrigerator goes out. That’s a hard hit. And having a home warranty you and it’s something you can negotiate the seller to pay for in your purchase as a home warranty could help you, uh, and it covers you for a year and you can continue that on for as long as you want. You just wrap it every year and it’s about 500 bucks, 550 bucks, depending on which company you use and what you do. And that’ll cover you for your major appliances for Trust Attorney Las Vegas.
That’s great. Yeah, that’s, it’s another form of insurance essentially, but it’s for those specific items so you don’t have to have it come up with a bunch out of pocket. Exactly. That’s great. All right, so let’s flip the scenario. They’d been in the house, they’re selling it. What are the mistakes that you see happen? Um, you know, with selling a house you need Trust Attorney Las Vegas,
so this is, this is tricky because on the sell side, a lot of people, my toughest competition is the average agent. It’s a friend in the business that someone has. And the average agent in Las Vegas sells about four homes. And that’s the average nationally as well. And there are 17,000 or so agents in Southern Nevada. There’s a ton of realtors here. And, uh, you know, if you’re doing an average of four homes a year, let’s say, and even if you take out all the people who don’t do business, and then you take the median, it’s, it’s still about six or seven homes a year. Well, the top 3% of agents do about 24 homes a year. So top 3% well then there’s a whole nother category. I mean, I’m doing over 60 homes a year, so that’s more than 10 times what the average agent is doing with your Trust Attorney Las Vegas.
So the average agent is exposed to four to 10 transactions a year. And usually half of those are buyer side where they’re representing the buyer and maybe half are sell-side where they represent the sell side, where I’m 80% listings and I work with my sphere of influence. So people that I know on the buy side, but I focus heavily on listings and most great agents do because that’s where they can, uh, level up and do volume. And so they’re very, very good at listings and they understand the market. So if you’re doing only four to 10 transactions and it’s 50, 50 buyer or seller your, let’s call it five or six of those at best, our, our listing side, that’s one every other month. And so you’re doing one sale every other month, you don’t know really what’s going on with the market. You’re not in tune with the changes and how you should price the home properly.