The process of buying a home can be different based on the price range and whether a mortgage is needed. While some things are different, others are similar regardless of price, financing or local customs. Each year, the National Association of REALTORS® surveys buyers and sellers who have purchased or sold in the previous twelve … Continued
Equity build-up could be one of the biggest advantages to buying a home. There are two distinct dynamics that take place to make this happen: each house payment applies an amount to reduce the mortgage owed and appreciation causes the value of the home to go up. It is easy to make a projection based … Continued
35% of respondents, in a recent annual Gallup poll that dates back to 2002, identified real estate as the best long-term investment option compared to 27% who identified stocks. The top choices included real estate, stocks, savings accounts and gold. Even with the remarkable prices of the different U.S. stock indices recorded in 2019 through … Continued
The Internal Revenue Service considers four different types of real estate. Specific types of properties have benefits based on their classification. The determination does not depend on the property itself as much as it depends on how the property is used and what the owner’s intentions are. Principal Residence … a principal residence is the … Continued
Leverage is an investment term that describes the use of borrowed funds to control an asset; sometimes referred to as using other people’s money. Borrowed funds can affect the investment in your home positively. For instance, if you had a $100,000 rental property, collected the rents and paid the expenses and had $10,000 left, you … Continued
Two things can happen when the mortgage rates go up before you’ve found a home or locked-in your mortgage. You’ll either pay the current mortgage rate which means a higher payment, or you’ll have to increase your down payment to keep the monthly payment at the same level. If the rate were to go up … Continued
Square footage is commonly used to determine if a home will fit a buyer’s needs. The price per square foot can be used to compare the costs of different homes and even, determine the value of a property. The challenge is what is the source of the square footage measurement and how was it done. … Continued
Aside from standing water in your yard or water running out from under a sink, the first indication that you might have a water leak comes from a larger than normal water bill. Before calling a leak specialist or a plumber, there is a simple diagnostic you can perform. Go through your home and make … Continued
Aside from standing water in your yard or water running out from under a sink, the first indication that you might have a water leak comes from a larger than normal water bill. Before calling a leak specialist or a plumber, there is a simple diagnostic you can perform. Go through your home and make … Continued