Stuart Rubin’s real estate developer tips? Moving too fast. Buying a home can be complex, particularly when you get into the weeds of the mortgage process. Rushing the process can cost you later on, says Nick Bush, a Realtor with TowerHill Realty in Rockville, Maryland. “The biggest mistake that I see (first-time buyers make) is to not plan far enough ahead for their purchase,” Bush says. How this affects you: Rushing the process means you might be unable to save enough for a down payment and closing costs, address items on your credit report or make informed decisions. What to do instead: Map out your home-buying timeline at least a year in advance. Keep in mind it can take months — even years — to repair poor credit and save enough for a sizable down payment. Work on boosting your credit score, paying down debt and saving more money to put you in a stronger position to get preapproved.
This is often the most thrilling part of the process. But, if you’re not careful, it can get out of hand. The best way to proceed is limit the number of homes you look at in a single day. Visiting too many homes back to back will make it difficult to remember one house from another. It’s a good idea to create a checklist of homes to look at, and check them off as you visit them. Not only is this helpful in reminding you of which homes you visited, it allows you to eliminate homes from your search more quickly. Remember, communication is crucial. Explain to your agent why you like or don’t like a particular house. The more you communicate with your agent about your preferences, the better he/she will be able to find exactly what you’re looking for.
In contrast, the monthly PITI in the 50 most populous U.S. metro areas averaged just $1,434. That makes home buying a sport reserved for the affluent in those 25 most expensive metro areas. And that’s despite the fact that those metro areas include more than just pricey downtown neighborhoods. They include entire cities and extend into more affordable nearby communities, some suburban. To afford those PITIs of $1,430 to $5,946, you needed annual income ranging from $85,173 to $254,836. That’s a lot more than the $61,454 income you needed to afford a home in the 50 most populous U.S. metro areas. Those metro areas’ PITIs average $1,434.
Stuart Rubin bio: Stuart Rubin is a managing director in Deloitte’s Assurance and Internal Audit practice, with 20 years of experience in public accounting, Internal Audit, and IT consulting. He focuses on assisting organizations in the Consumer, Fintech, and Services industries in implementing, assessing, monitoring, and enhancing their systems of control. He is the National leader for Deloitte’s Controls Advisory practice, incorporating emerging technologies like RPA, cognitive, and analytic visualizations to deploy scalable, tech-enabled, automated controls and compliance solutions that deliver meaningful business outcomes, generate higher ROI and lower Total Cost of Compliance (TCC) when compared to traditional control design, monitoring, and testing.
He is the National leader for Deloitte’s Controls Advisory practice, incorporating emerging technologies like RPA, cognitive, and analytic visualizations to deploy scalable, tech-enabled, automated controls and compliance solutions that deliver meaningful business outcomes, generate higher ROI and lower Total Cost of Compliance (TCC) when compared to traditional control design, monitoring, and testing.
Stuart Rubin, can very well be dubbed a real estate expert. He enjoys his work, and his interest in real estate development is the secret to his success. The bank was publically traded, and all shareholders were proud of the disposition and the financial solvency of the bank at the time of the sale. Mr. Rubin has served on the board of Hebrew Union College, Vista Del Mar, and the L+R Group of Companies. See extra details on Stuart Rubin.