Are you thinking of buying a new home this spring or summer? If so, you're not alone. Many thousands of individuals and families alike will become homeowners this year. Whether you're a first-time buyer or a seasoned veteran of the housing market, you probably know there are significant choices to make. One of the big decisions you will have to ponder is how much you want to invest in your down payment. With that in mind, let's try to answer the question of whether or not it is worth it to put more than 20 percent of the home's price in your down payment. Ask Yourself: How Liquid Are You? … [Read more...]
Curious About Homeowners’ Association (HOA) Fees? Here’s What You Need to Know
If you are thinking of buying a condominium or a home that is part of a planned community, you have likely come across the term "homeowners' association" or HOA. In short, the HOA is a coalition of local homeowners who have banded together to manage the needs of the local community. Let's explore the concept of the homeowners' association, why they charge fees and what you can expect from your HOA if you buy a home that is part of one. HOA Fees Are Meant To Make Things Easier HOA fees are meant to make your life easier. Common sense dictates that all homeowners won't be able to commit to … [Read more...]
Buying a Rental Property? These 4 Key Tips Will Ensure You Buy One That Turns a Profit
Are you starting to grow bored of watching your money go nowhere sitting in a bank account? With today's interest rates doing little to encourage saving, many individuals are looking elsewhere for new investment opportunities. In today's blog post we'll share four essential tips for buying a profitable rental property. Let's get started. Buy A Property With Year-Round Potential Many real estate investors agree that the best rental properties are those that generate income every day of the year. The most straightforward situation to manage is one where you have stable, long-term tenants in … [Read more...]
Landlord Squeezing You for yet Another Rent Increase? It’s Time to Buy a Starter Home
Did you recently receive your annual notice that the rent is going up? If so, you're not alone. Millions of renters are seeing more and more of their income drained away due to higher rents. To make matters worse, every dollar in rent is one that you are not saving, investing or using to build your net worth. If you're feeling the pinch of higher rents, it might be time to buy your first starter home. Comparing Rent With A Mortgage Have you ever done the math to understand how close your monthly rent might be to a mortgage payment? Here's a quick and easy exercise. Multiply your monthly rent … [Read more...]
Taking Out a Mortgage for the First Time? Learn Why a Condo Might Be a Great First Home
Are you starting to tire of paying your monthly rent to someone and never building any equity? Renting forever can be a significant pain, especially as you're contributing to someone else's financial well-being. The good news is that there are affordable real estate options out there for those investing in their first home. Below we will share a few excellent reasons why an apartment or condo might be the best choice for a first-time home buyer. A Manageable Monthly Payment In most markets across the country, condos and apartments are available at a significantly lower cost than a full-sized … [Read more...]
