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How To Buy A Home With Good Resale Value

When most people approach the prospect of buying a home, the ultimate resale value probably isn’t the first priority. In many cases they are seeking a property that meets certain needs, whether it has enough rooms to support their current family (or account for future growth), a yard for kids to play in, and a modern, gourmet kitchen, or it provides a good school district, a safe neighborhood, and proximity to a job, just for example. In addition, the majority of prospective buyers are working with a budget, which can limit options. So when it comes to considering the potential for resale value down the road, you simply might not be thinking that far ahead. However, you have to consider that buying a home for personal use also entails purchasing a financial asset, and an expensive one at that. You need to know that the money you’re putting in is going to pay off at some point with a return on investment. So here are just a few things you may want to think about before you buy.

The first thing to consider is the age and condition of the home itself. If you’re purchasing a property that’s older than you, you’re likely to encounter all kinds of issues. For example, roof leaks, plumbing problems, inadequate electrical systems, and outdated decor are all things that you might find in an older home (as well as hazards like popcorn ceilings that contain asbestos). What this means for you should you purchase the home is sinking in a lot more money if you want to turn your fixer-upper into an attractive property for another buyer during your tenure in residence. Of course, in many cases such upgrades can significantly add to the value of your home, so it’s certainly something to think about if you happen to be a handy sort.

March 2, 2013

General

5 Tips For Setting Smart Financial Goals

Everyone seems to have the same financial goals in mind when you get down to the simplest of terms–we all want more money. Of course, finding ways to achieve our goals can be extremely difficult. For business owners, investors, and average individuals everywhere, setting smart financial goals is more necessary than ever. Only by being smart about your goals can you turn your dreams into reality, so get started on the right path today.

Define Your Goals
Before you can set out to achieve your financial goals, it will help to know what they are. As they say, if you don’t know where you’re going, then you can’t possibly know how to get there. Set aside some time to figure out specific goals that you want to achieve. Perhaps you’re shooting for a certain level of home equity, an increase in your investment returns, or a jump in profits from your business. Think about exactly what it is you want and be as specific as possible to start setting smart financial goals.

February 21, 2013

General

5 Car Depreciation Facts You Should Know

You’ve no doubt heard that a new car loses thousands of dollars in value the moment you drive it off the lot. In fact, it is rumored that the loss could be as much as a third of overall value. This may not be quite accurate, but once you sign on the dotted line and take ownership of the vehicle, there’s no denying that it automatically becomes worth a little less (because it can only be resold with the caveat that it’s had a previous owner). So before you go into debt to purchase a new car, you might want to consider that there are other options (certified pre-owned vehicles, for example). And knowing the facts about depreciation could just help you to make an informed decision. Here are a few tidbits you might not be aware of.

Accidents are a major cause of depreciation. When it comes to accidents, most people seem to be under the impression that as long as there is no frame damage and their vehicle is restored to original condition they won’t see any additional depreciation. Sadly, this is not true, especially with websites like Carfax that let anyone see your car’s history. The truth is that if all things are equal, a car that has a clean history is going to be worth more when it comes to resale.

January 29, 2013

General

5 Reasons Your Home Won’t Sell And What You Can Do About It

Pundits and experts have pegged 2013 as the year that the housing market will truly start to rebound, showing a significant increase in sales and perhaps even a bump in pricing. This is apparently thanks to a foreclosure market that is finally drying up, giving homeowners a chance to compete for sales. But don’t start counting your chickens before they hatch; we’re still in a recession. And if you’ve had your home on the market for a while with nary a nibble, you can no doubt attest to the continuing sorry state of our economy. Of course, the recession may not be totally to blame for your real estate woes. There could be a number of roadblocks that are preventing you from attracting buyers. Here are just a few that could be thwarting your efforts and how you can go about fixing them.

It won’t pass inspection. Unless you’re intent on selling your home “as is” (a prospect that won’t appeal to very many buyers unless the price is right, which is to say bargain basement), you need to fix any violations uncovered by a home inspector. The reason is this: if your home doesn’t pass inspection, no bank will loan a buyer the money to purchase it. Luckily, all you have to do is get your property up to code. The home inspector will give you a detailed list of what needs to be fixed (and possibly even recommend vendors for the job).

High price. You obviously want to get the best value from your home when it comes time to sell, but in a depressed market you’re going to have to temper that urge with a healthy dose of reality. You’re not going to get anywhere near the same value as you would have before the bubble burst, so put that thought out of your head. The best you can really hope for is the top end of your current market, but even that is a risky gamble. Of course, if you overestimate the interest in your home, you can always drop the price, but that, too, could be problematic (read on).

January 28, 2013

General

The Most Valuable College Majors

It wasn’t so long ago that the flexibility of a business degree was enough to open all kinds of doors to a motivated graduate. But these days you not only need a major in business, but also a minor in communications, not to mention an emphasis in social media. And it couldn’t hurt to have a second major in the industry you intend to enter, be it hospitality, video games, alternative energy, or whatever strikes your fancy. The point is that the job market has changed, and majors that were enjoying job growth even a decade ago have now become over-saturated. Just look at the field of graphic design. However, there are a number of majors you might select that stand to deliver not only lower than average unemployment rates (even in a recession), but also the potential for a livable salary.

January 24, 2013

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