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home purchase

Investing

Simple Ways To Make Buying Your First Home Easier

If you have decided that now is the right time to buy your first home, you may be a little unsure about what you need to do. Surely there’s more to it than viewing houses, picking one, and signing on the dotted line? Property investment is a somewhat long-winded process, as there is a lot of ins and outs to buying a home.

Buying a home will no doubt be one of the biggest investments that you will ever make, so it’s important that you know what you’re doing. There’s a lot more to buying property than meets the eye, and it’s important to understand that. Investing in a home can be a long and complicated process that’s also incredibly expensive, it can take as little as a month or as long as a year.

That being said, there are a few things that you can do to speed up the process and make things a little simpler. For everything that you need to know, keep reading.

December 16, 2015

Investing

Looking For A Home With Good Resale Value: 5 Things To Consider

When buying a home, most people are concerned with how a given property will suit the needs of their family. Some are concerned with square footage while others are seeking proximity to particular schools within a district. Some want a view while others prefer to have restaurants and shopping nearby. But one thing that few homeowners take into account when buying a home is the potential for resale value to increase. We all know that we will gain equity in property over time, provided we make our monthly mortgage payments, maintain the structure and grounds, and hold out for a seller’s market. But there’s no getting around the fact that certain home purchases are bound to show a greater return on investment over time for a variety of reasons. So here are just a few things you’ll want to think about when it comes to your home purchase and your prospects for future sale.

January 11, 2014

Shopping

Purchasing A Home – Is 2013 The Time To Buy?

By now you have probably heard about all the people looking to buy houses. The reason you are hearing all of these rumors is because people want to take advantage of the low interest rates on mortgages at the moment. A lot of people assume that they will not be able to get a house later on down the road because of the interest rates going up; however, that is not true.

What you need to understand is that if you can buy a house in 2013, then you should go for it. The reason I say this is because the interest rates are so low that they will not likely be this low again anytime soon, the housing market has hit the bottom, so the prices won’t be this low for a while either, and there are still many tax benefits for buying a house as opposed to renting one. Just know that 2013 is a great time to buy a house, but if you don’t have the money or the income, then it just doesn’t make financial sense.

April 18, 2013

General

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

Money Saving Tips

Saving Up For Your First Home

There will come a time when you wish to say goodbye to rental properties and purchase a home of your own. Indeed, often a mortgage works out cheaper than renting anyway.

The Largest Purchase You Will Ever Make

Saving money for a house is unlike saving for most other things. The amount will usually be larger than for any other goal you have ever tackled, and so the time frame will be much longer. The amount required is notoriously difficult to calculate and the sum of money you need will be much less intimidating if you think of it as a monthly amount rather than a lump sum. The larger the deposit you save, the more flexible the mortgage and the more competitive the interest rates. It is wise to create a graphical tool to motivate your saving, for example, a money thermometer. In the run-up to your purchase, you could free up money by avoiding or at least reducing the cost of renting by moving in with your parents or in-laws or sharing a house with friends.

November 15, 2012

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