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Buying a home with little money in savings

Buying a home with little money in savings

Basic Reasons For Why You Should Become A Homeowner

Posted by on Feb 16, 2017 in Uncategorized | Comments Off on Basic Reasons For Why You Should Become A Homeowner

There are several reasons why you should become a home buyer, such as financial security. Owning a home also means that you can decorate or make any changes you want without having to get the approval of your landlord. In addition, you don’t have to worry about someone forcing you out once the lease is over, or if the landlord will make repairs. Long-Term Investments There are times when it’s better to purchase a home because a particular home you desire is priced within your budget. The good thing about purchasing your home is that the value will increase as long as it’s well-maintained. This makes it a good investment because the equity in your home will increase as well. Hen this happens, it puts you in a better financial position in the future, should you desire to sell your home one day. Personal Benefits One of the personal benefits of becoming a homeowner is to be able to celebrate your success with friends and family. When you are able to design and improve your home by making any changes you see fit. In addition, you can show off your home and have pride of ownership. As a homeowner, you may feel a part of the neighborhood and feel as if you have taken the first steps to establish roots for your family. Home Privacy When you become a homeowner, you don’t have to worry about intruders coming into your house. For instance, as a renter you are subject to inspections by the landlord or apartment manager. As the owner of your own home, you are not dependent on anyone and don’t have to answer anyone. Home Maintenance As mentioned above, you can make changes to your home as you see fit. However, you also have to keep your home well-maintained. This means paying attention to the smallest details to ensure your home remains in working order. However, to ensure that your home is in the best condition before purchasing, it’s essential to have it inspected. Once the home has been inspected, you should review the report to ensure that there are no underlying issues. If there are some concerns with the house you notice in the inspection report, you should address this immediately before finalizing the purchase of your new home. It’s possible that the prior homeowner can take care of these issues before you purchase the home.  These are just a some of the tips for becoming a homeowner. However, consider speaking with a realtor if you are still unsure if purchasing a home is right for you at this...

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Explaining A Few Advantages Of Opting To Buy An Existing Home Rather Than Build A Custom One

Posted by on Feb 7, 2017 in Uncategorized | Comments Off on Explaining A Few Advantages Of Opting To Buy An Existing Home Rather Than Build A Custom One

Deciding to become a homeowner will require you to make a number of important decisions with regards to what you want from a home. In particular, individuals will often find it difficult to decide between investing in an existing house or having one custom built. However, there are several important benefits that can be enjoyed by opting for an existing home. Avoid Bureaucratic Hurdles The process of building a house is a highly complicated engineering task. However, there are a number of regulatory requirements that must be met to comply with local building codes. For example, this can involve complying with local zoning and inspection requirements. Failing to comply with these various regulations can result in penalties ranging from steep fines to the construction work being forcibly halted. Easier To Finance Many people will need to use credit when buying a house due to the large expenses involved. Unfortunately, financing new construction can be more difficult. This is due to the fact that there will not be a house to use as collateral at the time of signing the loan. As a result, those that have credit problems may find that opting for existing construction is the best solution for their needs. Avoid Waiting A Long Period To Move Into The House One of the most inconvenient aspects of having a custom home built is the fact that it can take many months to years before the house will be finished. This is particularly true for individuals that are wanting especially large or complicated structures built. When you choose to buy existing construction, you will be able to move into the house within a matter of weeks or less. At the time of signing the final sale contract, you will take immediate control of the house, which can be the most convenient option for those that are wanting to get settled into a new home as quickly as possible. When you are looking to invest in your first house, you will have to decide between choosing to have a new home built or buying an existing structure. While a custom home can be a great investment, it is important to consider the advantages that existing structures can provide. Knowing that this may help with financing the transaction, avoiding bureaucratic hurdles, and knowing that you will be able to move in much more quickly will help you to better weigh the available options when choosing a home to buy. For more information, contact companies like Gina Ziegler...

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Thinking About Becoming A First Time Home Buyer? 3 Preparations For The Best Possible Experience

Posted by on Jan 30, 2017 in Uncategorized | Comments Off on Thinking About Becoming A First Time Home Buyer? 3 Preparations For The Best Possible Experience

For those who have been renting a home or apartment, the decision to purchase a first home is an exciting time in life. But along with the freedom to paint the walls in your favorite color and plant trees in the yard comes the responsibility for meeting the mortgage payments and paying for repairs when something goes wrong. If you have decided to begin the process of buying your first home, take time to do the following preparations first to make sure that you are truly ready to become a happy homeowner. Make sure that you are financially prepared for home ownership The first thing to consider when preparing to purchase your first home are the financial aspects involved in purchasing and owning a home. For the best possible home buying experience, first time buyers should:   take time to determine how much home you can comfortably afford, and make sure that you have savings sufficient to cover the down payment, closings costs, moving costs, and a cushion for emergencies after you move into your new home consult with a lender, choose the right mortgage, and get preapproval before beginning to look for the home you want to buy  make sure that your employment and income level is stable and expected to remain so for the foreseeable future By making sure that your financial situation is secure before deciding to move forward with the purchase of a home, you will be better able to enjoy a less stressful home shopping and ownership experience.  Research the area where you plan to buy your home  Once you have made sure that you are financially prepared to become a homeowner, the next decision will be to choose the area in which you want to live. When considering the area, make sure that you choose a location that will be convenient for work, school, and other family commitments and activities. In addition, you will want to make sure the area you are considering is well kept and that the homes located there can be expected to hold their value well into the future.  Hire an experienced real estate professional to guide you throughout the process of locating and buying your first home More than any other home purchase, your first one will be easier and more problem-free when you can rely on the knowledge and experience of a trusted real estate agent. To find the best one for your situation, look for candidates who are active and successful in the area where you want to buy your home. Interview several, looking for one with a proven record of success in helping home buyers, excellent references from past clients, and a policy of maintaining communication with their clients before making your choice and officially beginning your home...

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3 Tips That Can Help You Find a Dog-Friendly Home

Posted by on Jan 10, 2017 in Uncategorized | Comments Off on 3 Tips That Can Help You Find a Dog-Friendly Home

One of the most important things to keep in mind when looking for a home for sale is the suitability of the home for every member of your family, which can often include your pets. Listed below are three tips that can help you find a house that will be a good fit for you and any dogs that you may have. Consider Carpeted Floors While hardwood floors are among the most sought after home features by many people, you may want to consider going with carpeted floors instead if you have dogs. One of the biggest reasons for this is that dogs can very easily scratch of a hardwood floor whenever they are running across it due to their claws. In addition, having carpeted floors means that you will not have to deal with the very loud skittering and clicking noises that dogs can make when they run across hardwood floors, which is very beneficial if you want to be able to have a quiet space at home to relax or if you work from home. A nice added bonus is that carpeted floors will allow your dog to have a comfortable spot to sleep on throughout your home. Look for a Home With an Entryway Another great feature to consider when looking for a house that will be good for you and your dogs is an entryway. An entryway or mudroom is a great way to keep your dogs from spreading mud or dirt throughout your whole house when you bring them in from their walk, mostly because you can stop in the mudroom and wipe the dog down and remove any dirt and mud before they can access the rest of the house. This is especially useful when you consider that many entryways or mudrooms are designed to be quite easy to clean, so it is not a big deal if your dog shakes himself or herself off in those rooms. Try to Avoid Multilevel Homes Finally, one of the best things that you can do when you have a dog is to avoid a multilevel home. The primary reason for this is that dogs can be more than a little clumsy at times, so it is not uncommon for younger or active dogs to end up taking a tumble down the stairs when they are getting excited, which can lead to injuries on the part of your dog and expensive vet bills. In addition, avoiding a home that is more than one level is a great way to avoid any issues that your dog may have as he or she gets older because dogs often have difficulty navigating stairs in their golden years. Contact a real estate agent today and discuss what features you would like in a home that would be a good fit for you and your dog and any features the real estate agent may recommend that you...

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How To Keep Your Dream Of Leasing A Commercial Property From Becoming A Nightmare

Posted by on Dec 30, 2016 in Uncategorized | Comments Off on How To Keep Your Dream Of Leasing A Commercial Property From Becoming A Nightmare

Many people dream of being their own boss. Some business owners will start out in their homes and eventually move into larger commercial properties as their businesses grow. But leasing a commercial property can lead to a nightmare if you aren’t careful. If you are ready to move your home based business to a commercial property, here are a few important things to consider so your dream doesn’t turn into a nightmare.  Will you be responsible for capital expenditures?  It’s important to read the lease agreement very carefully, especially when it comes to items such as the costs of maintaining, repairing, and/or replacing things like the roofing, foundation, HVAC systems, plumbing, and other mechanical components of the property you are leasing. Be careful to not sign a lease agreement that shifts all of the responsibilities, especially financial, solely to you. If you find this in the lease agreement, you may need to negotiate. For example, perhaps you are willing to pay for maintenance and repairs but do not want to pay for replacements. The major thing to factor into the equation here is whether or not you can afford those costs, whether through your business or through your personal finances. Therefore, before you sign the lease, you’ll need to find out what those costs would be so you’ll have a better grasp of what you may face in the future.  Will you be required to sign a personal guarantee?  As a business owner, you know that the risks of remaining in business through the term of the lease are stacked against you, especially if your profits rely on the local economy and it’s not doing too well. For this reason and others, you may be asked to sign a personal guarantee at the time of your lease signing. This is a document that states that you will be personally required to pay the rent if your business is unable to pay, for whatever reason.  Fortunately, there is a little room for negotiating when it comes to signing a personal guarantee. Perhaps you can negotiate for a shorter term or a lower rent amount should the personal guarantee kick in. One thing you must do is to get what is called a pro forma copy of the lease. This is basically an informal copy of the lease. It should list everything that will be in the lease but in layman’s terms and in an easy-to-find layout, especially regarding personal guarantees and capital expenditures. For more information, go to...

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How To Help An Agent Sell Your Property

Posted by on Dec 14, 2016 in Uncategorized | Comments Off on How To Help An Agent Sell Your Property

If you are selling a property, don’t sit back and relax after signing a contract with a real estate agent. You also need to participate in the sales process if you want your property to sell fast. Here are four ways in which you can contribute: Be Flexible With Viewings When selling a property, you want as many people as possible to view it since you never know who will eventually buy it. Unfortunately, restrictive viewing hours may lock out some potential buyers. For example, if you only allow viewing during normal business hours, you will easily block those who must work during normal house and can only visit the house outside those hours. While it may be inconvenient to allow visits over the weekends or in the late evenings, you should try to accommodate those people as much as possible. Take Care of the Little Repairs Fixing up visible damage will go a long way toward convincing prospective buyers that you have looked after your property well. For example, a section of damaged fence may not look significant to you, but your buyers may see it as a sign of more serious damages. According to buyer mentality, a property with small, visible damage is likely hiding serious damages. Help Spread the Word There many ways in which you can help market the house. For example, you can share the listing on your social media pages. You can also ask your colleagues, friends, and family members to share it on their pages too.  Don’t restrict yourself to online accounts; even in the physical world, you should spread the word every chance you get. Parents meetings in school, after church activities, and even your workplace provide opportunities for spreading the word. There’s always a possibility that one of your work colleagues knows someone who wants to move to your city who may be interested in your home. Depersonalize the House Lastly, you need to depersonalize your house so that those who come to view it can picture themselves living in the house. This involves removing personal items from view. For example, you need to keep the pets and their paraphernalia out of view, remove your paintings and pictures from the walls, and hide the children’s toys. Hopefully, the measures above will help you to sell your house first. Of course, you should also listen to your real estate agent’s advice as well. They have many homes for sale and know what tips work best in your...

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Things To Discuss With Your Tenants When Selling Their Home

Posted by on Nov 29, 2016 in Uncategorized | Comments Off on Things To Discuss With Your Tenants When Selling Their Home

When you own an investment property occupied by tenants, you might eventually wish to sell the home. In some cases, the tenants will need to leave the property when you sell it; in other cases, you’ll find a buyer who will also use the property as an investment, which means that the tenants will stay. Regardless of the eventual outcome, you need to remember that selling the home should necessitate regular communication with the tenants. Here are some important things that you should discuss as the listing gets ready to hit the market. Importance Of Cleanliness You might not care how tidily the tenants live on a day-by-day basis, but you should take an active interest in this topic when you list the home for sale. You’ll eventually be dealing with open houses and visitations, and you can’t afford to have the residence look messy. This could discourage any interested buyers. Come up with a plan for cleaning the home. Perhaps you’ll hire a professional cleaning service to deep clean the house from top to bottom, for example. You must also get the residents to commit to keeping the house clean while it is on the market. Advance Notice Of Viewings You need to communicate how much notice you’ll give your tenants when an interested buyer wishes to schedule a viewing. When you’re selling a home that you currently live in, you might be able to accommodate people quickly — maybe even vacating the home with a few hours’ notice. It’s courteous, however, to make a pact with your tenants that you’ll give them a specific amount of notice. For example, you might settle on 24 hours or 48 hours. Make sure that your real estate agent knows this detail so that he or she can convey the message to the buying agent. Closing Date If it’s probable that the tenants will be moving out upon you selling the home, you need to come up with a closing date that will suit both parties. Given that a home can sell in a couple days or several months, this can be an uncertain time for the tenants, who won’t want to feel as though they’re being evicted upon the sale with little notice. A closing date two months after the sale is finalized, for example, will give the tenants an opportunity to find new accommodations, while you’ll have a chance to fix up any issues with the house for the new...

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3 Reasons Your Home Isn’t Selling And What You Can Do About It

Posted by on Oct 21, 2016 in Uncategorized | Comments Off on 3 Reasons Your Home Isn’t Selling And What You Can Do About It

If your home has been on the market for weeks or months without a single offer, you may be wondering what you’re doing wrong. While the home selling process can certainly be frustrating, there are a number of things you can avoid doing to ease your frustrations and increase the odds of your home selling. Below are three possible reasons your home may not be selling and what you can do to fix them. 1. Your Home Is Too Personal When putting your home on the market, it can be difficult to see what potential buyers do when taking the tour. Unfortunately, a home that is too personal—unusual paint colors, children’s art and decorations, etc.—can have a negative impact on the thoughts of potential buyers. So, what can you do to turn this around? Luckily, this is an easy fix which will require a bit of your time. First, it’s always best to stick with neutral tones—both in your paint and furniture—when getting your home ready for showings. This will allow potential buyers the chance to see the home for what it really is and imagine their own belongings and style incorporated into it. Second, it’s best to put away any macaroni art or construction paper decorations for safe keeping. While your children’s art is certainly adorable, it can distract buyers and not allow them to see themselves living in the home. Third, put into storage any unusual art or furniture pieces that you have lying around. You don’t need a statement piece when selling your home, so it’s best to put it away for safekeeping. 2. There Are Too Many Required Repairs Potential buyers understand that buying a home means paying for necessary repairs and remodels. If your home has too many required repairs, though, this can be a huge turn-off to buyers. So, instead of deducting the cost of necessary repairs from your home’s asking price, it’s better to do the repairs yourself and have that reflect in the listing price. For example, if the home you’re looking to sell needs a new boiler, it’s best to pay the $4,000 for it yourself than to give potential buyers a cut on the asking price. Money isn’t everything when it comes to buying a home. For many would-be homebuyers, the amount of required work is also something to be factored in. 3. Your Home is Priced Too High It can be difficult to put a price on a home that you love, but when looking to sell, it’s important to be objective and fair. While this may be the home that you bought with your husband, raised your family in, and experienced a number of life’s greatest moments in, potential buyers won’t be willing to pay for the sentimental value of your home. This means that it’s important to work with someone who can give your home an objective price, one which is based on the true monetary value of your home. This is where a realtor can be extremely helpful, as they likely have experience selling in your neighborhood, so they know how much similar homes have sold for in the past. To learn more about the real estate market in your area and how to put your best foot forward when selling, consult with a local...

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Choosing A Real Estate Agency: Why Your Interest In Certain Properties Should Not Be The Deciding Factor

Posted by on Oct 11, 2016 in Uncategorized | Comments Off on Choosing A Real Estate Agency: Why Your Interest In Certain Properties Should Not Be The Deciding Factor

With all of the real estate agencies out there, how do you choose the right one? If you are just buying a house, there are only a few factors that really affect who you choose as your real estate agency and who you work with as an agent. One of those factors should not be your interest in certain properties. Here are the reasons why and how to choose a real estate agency otherwise. All Real Estate Agencies Have Access to the Same Property Listings Regardless of who the house is listed with, all agencies and agents have access to the same house listings. That means that if you are interested in a house that is listed with Agency A, but you want to work with Agency Z, you can still view the house and purchase it through Agency Z. Agency Z gets a small percentage of the sale if and when your agent closes the deal with you. This is why you should not be daunted about your choice in real estate agencies and agents with regards to the properties you want most to see and/or buy. How Best to Choose an Agency/Agent Instead Instead, choose an agency and agent by the costs. Since most buyers and sellers would choose an agent/agency by price anyway, this is a sensible decision. Your closing fees, agent fees, listing fees and bargaining fees all vary among the agencies in your area. You can ask the agencies what they charge for each of these fee categories prior to hiring the agency and agent you most want to represent your interests in the home buying market. Usually, each of these fees is within a few hundred to a thousand of those charged by competing real estate agencies. You can also choose to hire an agency based on the awards, praise, and acclamation an agency has received. Many of these awards are given based on the agency’s customer service and excellence with regards to how it treats both sellers and buyers. You may find that the agents in these agencies are more accommodating with showing houses in off-hours and are willing to be flexible in your search for a new home. Finally, personalities and personality types are often the reason that people choose the real estate agents they do. You will have an easier time of finding a house when you find the agent agreeable and...

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Why The U.S. Is An Attractive Market For Commercial Real Estate Investors

Posted by on Sep 26, 2016 in Uncategorized | Comments Off on Why The U.S. Is An Attractive Market For Commercial Real Estate Investors

If you are looking for commercial real estate investors, one area you should search is among foreign real estate investors. International investment is becoming more attractive because governments around the world, including in the U.S., have eased restrictions both on inbound and outbound investments. There are many other reasons why you should look abroad for investors. By knowing specifically why the United States is an attractive market, it will be easier to promote U.S. commercial real estate properties. It Is Less Expensive To Invest In The United States The Foreign Investment in Real Properties Act 1980 was created originally to impose large taxes on foreigners who invested in commercial real estate. However, the JOBS Act went a long way toward eliminating the burden that was imposed on foreign investors. The percentage of publicly traded stock that a foreign investor can own before he or she is forced to pay a higher tax has been effectively doubled. Canada, China, and Australia Are The Top Investors Chinese investors are one of the largest players in the domestic commercial real estate market. However, the appetite for commercial real estate in the U.S. is not limited to Chinese investors. In fact, the number one foreign source of investors in commercial real estate are Canadian investors. Australia is also a major source of foreign investors. Many Foreign Investors Lack Other Options One of the most common reasons for foreign investment into the U.S. market is that there is a lack of commercial investment options for investors in their own countries. Also, there are relaxed restrictions on outbound investments in the United States. The U.S. is seen by foreign investors as a secure and stable place for investment. A Better Monetary Policy The United States has low interest rates. This has made it possible for lower finance costs and lower yields in the bond market in comparison. Europe Is A Major Competitor With The United States Europe is becoming a more competitive investment option as well because the Eurozone has stabilized. However, Europe’s greater competitiveness has not lead to a decrease in the number of foreign investors investing in U.S. real estate. The U.S. population growth is also leading to increased opportunities for investment as infrastructure is upgraded and as more properties are constructed to cater to a growing consumer base. By clarifying the benefits of investing in U.S. commercial real estate when marketing investment products to foreign consumers, you will be able to better attract...

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