Buying a home is a big deal it is typically the largest financial decision you will ever make. Unless you have a large sum of cash saved, you will need a mortgage to purchase your home. When you purchase a home using a mortgage you will be paying more than the principle value of your home. You will also pay the interest on mortgage, as well as homeowner’s insurance, property taxes and other community fees. Even a…
It’s difficult to say whether renting or buying a home is a better decision. The answer depends on your situation and what factors matter most to you in the long run. That being said, here are some questions to consider when you make your decision to rent or buy. Why are you buying a home? The American Dream has always been to own a home; and in most cases the benefits of…
When you start to think about buying a home, you need to think about what you’ll need to get approved for a mortgage. You can’t just walk into a bank and ask to borrow $100K; you need to prove that you are trustworthy, stable, and can pay back the loan without going broke. Here’s what you’ll need to get approved fast. Great Credit This one’s obvious. If you want to…
Making interior design changes in your home is daunting. It changes the feel of your home, and since you live in it, it’s only natural that you want it to go smoothly. Luckily, the digital age comes with tools to make the process as problem-free as possible. Check out these useful (and unbelievably fun) web and mobile applications for redesigning the interior of your home. Web Apps Autodesk Homestyler: Free…
If you search “About Private Mortgage Insurance,” most of the articles you’ll find will be about how to avoid paying for PMI. While it makes sense to avoid paying more than necessary for your new home, don’t try to ditch your PMI just because that’s what everyone else is trying to do. Lets walk you through the pros and cons of PMI so that you can make an informed decision…
So you’ve decided to buy a home. You’ve started in on the home buying process. But something’s wrong. There aren’t as many houses as you thought there would be, and the ones that are available are off the market faster than you can make an offer. Sometimes before you even have the opportunity to walk through them. What does that mean? You’re in the middle of a seller’s market. What…
When you think about buying a house, you naturally think about getting a mortgage loan, then HOA fees, homeowners insurance and taxes. But how often do you think about insurance on a mortgage loan? If you’re buying a home with a down payment of less than 20% of the home’s value, then having private mortgage insurance (PMI) is something you might need to think about in your financial decision making.…
You just bought your first home. Now what? First thing you have to do is start planning for unexpected accidents that might happen to you as a homeowner. Protect yourself by getting home insurance, so that when accidents do happen your home insurance will help you with repairs, replacement costs to items destroyed, and some living expenses as a result of the accident. If you’re a bit confused about what…
The home buying process is long and for those who haven’t done their homework, complicated. There are multiple hands that exchange money, plenty of paperwork to get to get tangled in, and lots of complex and important decisions to make. It’s important to be prepared when you venture into real estate, because the stakes are high and the cost of being caught off guard is higher. The path to home…
Whether you’re a first time home buyer or practically a seasoned home buyer, new constructions are bound to pop up in your house hunt. They come from a variety of sources in a variety of scenarios—from national builders to local developers; from one-off homes to larger subdivisions. New constructions are readily available as long as you put in the work to check them. But as available and appealing as new…
