Understanding the costs of owning a home

The Illinois Association of REALTORS® Advocacy Program has developed two new brochures that IAR member REALTORS® can share with their clients. The brochures were created with one central purpose: to help put prospective homebuyers, mainly first-time homebuyers, on the path to RESPONSIBLE homeownership.

It’s safe to say that some newer homebuyers in the last decade or so may not have been fully aware of or prepared for all the costs, obligations and responsibilities that come with being a homeowner. These two brochures can help educate prospective homebuyers on these points—to help people from “getting in over their heads.”

The first brochure, entitled “Homeownership: Understanding What You Can Afford, Mortgages, and Closing Costs,” discusses all the financial preparation that a homebuyer should do before the actual home purchase. It will help clients figure out just how much they can afford to purchase. The piece also is intended to help homebuyers familiarize themselves with the various components of mortgage shopping, mortgage payments and closing costs.

The second brochure is entitled “Understanding the Costs of Owning a Home” This piece is intended to help new homeowners understand all they should know about the financial responsibilities of owning a home. Helpful information is provided on maintaining a home, property insurance and budgeting.

Being able to provide solid and helpful information like this to a client enhances the REALTOR®’s role as an informed advisor to housing consumers.

IAR members can order pre-printed brochures in quantity from the Advocacy Program page of the IAR website www.illinoisrealtor.org. The brochures are free, just shipping charges apply.

This entry was posted in Consumer Information and tagged , , , , , , , , by Mike Scobey. Bookmark the permalink.

About Mike Scobey

Mike Scobey is Assistant Director - Advocacy and Local Issues. He supervises and coordinates the IAR Issue Advocacy Program which includes the coordination and management of Issue Advocacy campaigns, inside research, outside research and polling, legal analyses of local government proposals and public relations/education projects. He is responsible for the production of educational and advocacy pieces related to the local government affairs program. He also oversees the local Governmental Affairs Director (GAD) program which includes serving as a liaison to the local GADs and other staff on issue development and prioritization and overall campaign design. He provides staff support to the Commercial/Industrial/Investment Committee.

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