There's much talk online and in the news about the rising interest rates needed to slow inflation, and they affect home mortgage rates in the Hawaiian Islands and everywhere. If you're an active or retired service member, you owe it to yourself to look for the best VA loans Hawaii offers at today's lower rates. You always receive an interest rate advantage with a VA loan, and it's more important than ever in the current environment. Homeownership improves the quality of life for you and your family and can become one of your most significant (and wisest) investments – start shopping for a home today.
If you've been a renter for most of your adult life, things change dramatically when you buy your first home. Or, if you're in a starter home, use today's rates as an opportunity to move up to the larger space your family needs. The pandemic-driven real estate boom has cooled a bit, and there is a sweet spot when price rises have slowed and just before rates increase. It's an incentive for you to act soon while things are more in your favor than the recent past or the expected future. You can pre-qualify your loan amount before you begin shopping, so you only go for prices you know are ultimately within your reach.
When you buy a home, you decide whether you want to pay a little more for a place you like that's been improved recently (or is a new construction house or condominium), or whether you want to go for a fixer-upper and make the improvements yourself. It depends a lot on your skills, personality, and the time you have available to be involved with the renovations. Think carefully before you decide because it can have time and money implications for years to come. The old location cliché in real estate sales also deserves to be taken seriously. Make sure your new house works well in your life.
Lastly, strongly consider a maintenance-free home for lawn and yard work if you don't enjoy it or are away because of your job or other responsibilities. The growing seasons are endless in our warm tropical climate, and yards require upkeep. You can hire a lawn service if it fits within your budget, but with a stand-alone house, you're on the hook to make the arrangements. When buying a condo, the association or hired property manager oversees those arrangements. All you do is pay a monthly fee for your share of the expenses. For many people who want to own a home, it's ideal.
