Home

The Top Items You Will Need for your new house

When many people purchase a new house there are always things you didn’t notice on the last inspection or didn’t even think about needing. To help you out please find a list of the top items you could use for a new house below. These items also make great gifts for someone you now has just bought as house.

  • Zip ties
  • Duct tape – Useful for sealing any gaps or holes quickly.
  • Bungee cords – Great for moving the Christmas tree along with anything else you need to bundle to your car.
  • A tarp – Helpful for yard work, useful in case your grill cover blows away, can help cover a broken screen, and can even be used as a drop cloth while painting.
    Have a broken screen panel on your screened in porch from the same storm? Hang that tarp.
    Need a drop cloth while you paint your kitchen? You get yourself a tarp.
    Need to catch branches on the ground while your prune your trees? Get a bucket.
  • Flashlight with extra batteries – In case of a power outage or other emergency.
  • Fire extinguisher – One for each floor, along with one in the kitchen and garage.
  • Studfinder – Great tool for fining the right place to hang anything you need.
  • Toilet plunger – Better to be ready for what might happen and not be s… out of luck.
  • Long high quality extension cord – You never know when the power might go out in a room or area and how far away that place might be.
  • High quality hose – You will need it for a long time so make sure it lasts and doesn’t leak.
  • Tool set – Start with a cheap one but as tools break from use understand which one’s are used the most off and slowly replace them with the best quality one’s you can afford.
  • Carpet cleaning machine – Spring the couple hundred dollars and keep your house clean.
  • Ladder – Useful for changing light bulbs, cleaning gutters, and anything else you can’t reach on your own.
  • Carbon monoxide detector – Better to be safe than sorry.
  • Level – A very helpful tool to check if pictures you are hanging are flat or any other project you are working on.
  • Voltage pen – To easily make sure the various outlets are wired well and won’t zap you or your appliances.
  • Dolly – To move heavy items around easily.
  • Make sure the house receives cellular signal and if it doesn’t look into getting a signal boosting device or make sure you are utilizing Wifi when calling.
  • Cash – You will never know when the pipe will leak or what other small issues will come up.

A Perfect House And A Long Commute

This is a dilemma most home buyers have to face. On one hand, they have their dream property right in front of their eyes and on the other; they have the ignominy of a long commute. But before discussing the long and short of this, what defines a long commute. Is it a 30 minutes drive, a 45 minutes exercise, an hour and a half gruel? The time needs to be factored in. Also, if one is commuting for that long, you need to calculate the returns you are getting while doing so. The ideal question should have been, is it worthwhile?

Now, money is and will forever be a finite instrument. Just like life and time.  So how much of it would you be spending in the car, stuck in traffic and not being happy about it at all? Perhaps nothing at all. However, let’s look at the other possibilities. Your workplace, even though at a great distance from your new home, pays you well. It pays you to afford a great house, bills that you need to pay each month, education for your child et al. If that is the kind of job you are currently in, the journey is worth the while. Also, the title did mention a perfect house. Now that would mean, it did fit your budget more admirably than the other ones which you had checked out. The advice would be stick to it. Both your job and your perfect house matter and what links both of them is the paycheck you receive every month. Of course, if either one is suspect, then you have to start looking for newer possibilities. If it is not and I presume it surely is not, a commute should not be the deciding factor. Certain other things to look out for. Is the new house, which seems perfect to you, in a good school district, provided you are a couple. Even if you are not, the future needs to be factored in.

Statistics show that while the average commuting time has remained unchanged at 25.5 minutes those traveling for more than an hour rose to 11.1 million in 2012. Now that is a rise of 300000 from 2011.

Hence, idea is to strike a balance and it greatly boils down to priorities and find the perfect mix.

Five Easy Tips for Young Homebuyers Buying Their First Home

Buying a home for the first time can be both an overwhelming as well challenging task. You have so many things to consider while buying a property that you will call home for the rest of your life. Young couples often face the daunting task of deciding on a house that fits their pocket as well as aspirations. Thus, it is imperative to do a little financial homework before you can actually get down to some legwork.

Here are 5 easy tips for young homebuyers that will make their task much easier:

  • Check your credit score – To qualify for a loan, your credit score is going to play the most vital role. Every bank follows very strict loan approval criteria when it comes to credit scores. You will have to check your credit report for unpaid accounts or collection accounts or mistakes and rectify anything that can adversely affect your credit score. If you have a damaged credit score then you will have to invest some money and time to get it rectified. You need to keep in mind that only a good credit score will make you eligible for a loan.
  • Weighing your assets and liabilities – First time homebuyers need to weigh their assets and liabilities. They must be aware of the amount of money they draw in and the money that they actually owe. This will give them a clear picture regarding the money that they will need after buying a house.
  • Arrange the documents – You will need documents at every stage of home buying, so be ready with documents like two recent pay slips, tax returns, last two month’s bank statement etc. Buying a home is a time consuming process but when you are ready with the documents, consider one third of the job done.
  • Find out whether you qualify – You will need to find out whether you actually quality for a housing loan or not. For these you can ask the bank officials and find out the amount of money you will need to repay the loans and the exact amount of loan you qualify for.
  • Determine the down payment – You will have to get in touch of your bank and find out the exact down payment that you shall have to make. This again can be determined from the loan amount and the time period for which you wish to take the loan.

What are the Pros and Cons of Home Ownership.

Home is where the heart is. So went the adage. It has always been drilled into our brain that growing up and buying a home was the smartest financial move ever. In fact, buying a home was and is considered as a very good investment opportunity. Sounds too good to be true, right?  Or is it?

Let us look at the pros and cons of home ownership.

  1. Yale economist and Nobel Prize winner Robert Shiller debates about the feasibility of accepting home buying as an investment. He says, that the returns are just too small and that the premise of real estate appreciation does not always stand true. Calculated over the past 100 years, home prices have grown at a measly rate of 0.3%, after adjusted for inflation. Stocks and bonds have given, over the same period, an annual return of 6.5%. This difference is just big to ignore.
  2. Home buying should be kept as just that. An asset to protect you and your family against the vagaries of nature. As an investment vehicle, it simply does not stand up to the other instruments available in the market. What blunder most do is to make up more than 75% of their investment based on the price of their home. There is an inherent risk because of the lack of diversification.
  3. Owning a home is an absolute matter of pride. And beyond that, a recognition of all the hard work you have put in to buy that property. It is also a sign of prosperity.
  4. Owning a home is an excellent tax saver.
  5. The question of equity comes into play. Rent paid is gone forever. It never builds up your financial equity. However, with a mortgage payment, equity is built over a period in time.
  6. Owning home lets you beat inflation, even though by a very small percentage. According to Prof. Karl Case, long-term housing did have its moment when it went a wee bit ahead of inflation. Now, if you are young and thinking 30 to 40 years ahead, it is a very valuable insurance against inflation. Not a mean task at all.
  7. Contradicting to what I had said in point 1, the house is a risk capital. Again, as mentioned earlier, a home should never be viewed as a way to get rich, because it simply does not work that way. However, equity in a home can always be linked to your portfolio.

Home owning does have its fair share of pros and cons.  It totally depends on the individual and his or hers financial situations. But as the line goes, “Home sweet home”.

Why Should Not I Pay Off My Home Loan?

No one needs to pay a home loan any more extended than would normally be appropriate. It’s a bit unsettling to have a tremendous obligation approaching over you for a considerable length of time, piling on intrigue. You may even be enticed to pay off your home loan early in case you’re sufficiently blessed to have the money lying around. In any case, paying off a home loan early isn’t generally the most intelligent choice, and there’s a reason home loans are alluded to as “great obligation.” So in case you’re considering paying off your home loan ahead of schedule, here are three motivations to re-examine.

  1. You’ll miss out on that intrigue finding

Paying all that home loan intrigue has an advantage, and it comes as a conceivably sizable assessment derivation. In case you’re in a high assessment section, missing out on this finding could mean paying more in duties, particularly if doing without it pushes you into the following higher section.

  1. You might be left with constrained liquidity

The lodging business sector isn’t especially fluid. Purchasing and offering property takes a great deal of time and work; wrapping everything up can take weeks or even months. On the off chance that you utilize your discretionary cash flow to pay off your home loan, making your home your lone real resource, then you’ll experience issues covering any enormous costs that may emerge. In the event that you lose your employment, have a medicinal crisis, get hitched, or send a child to school, for instance, you’ll need to have fluid resources available. Moving house ought not to be your exclusive choice.

Then again, in the event that you take the cash you’d use to pay off your home loan and rather spread it out over a differing arrangement of speculations, including stocks and bonds, then you’ll have more choices ought to the requirement for money emerge.

  1. It won’t give salary

When you put your cash in stocks and bonds, you can possibly secure a salary stream through profits, premium instalments, and capital increases. Paying off your home loan, notwithstanding, won’t give you salary. Rather, it will abandon you with constrained money left over to contribute. In the event that you put all your cash into your home, it could take years for it to develop in esteem, and paying off your home loan could restrain your capacity to produce wage for things like school, retirement, or other short-and long haul objectives.

 

It’s about the financing cost

In the event that your home loan conveys a high financing cost and you have the money close by to pay it off, then you should pull out all the stops. However, in the event that you have a low loan fee, you can exploit it by clinging to that home loan and utilizing your money to create higher returns somewhere else.

So in totality one can say very easily that its beneficial sometimes not to pay home loans as it saves you a lot of tax and can help in negotiating salary. One should paying off home loans in such a way that one can easily turn the liability into asset.

Tips for Young Married Couples When Buying a House

Young married couples have already started a new life and they are excited about settling down and having a family. Buying a house is the biggest dream of any young couple because they will always need a place they can call home. However, when they actually get down to buying a home, they find it an extremely challenging and stressful task. They have to take care of several things like credit score, eligibility criteria, down payments, taxation and on top of that go in search of a property that suits their budget and needs.

Buying a home can be a daunting task because it is a major decision that a young couple takes after getting married and both need to be on the same page to ensure an appropriate choice. Here are some quick tips that will make their task less-challenging and fun:

  • Check your credit score: Credit score plays a vital role in deciding whether you are eligible for a housing loan or not. Banks follow a very strict procedure when it comes to approving loans and the first thing they consider while making a decision is your credit score. You can’t expect to get a housing loan if your credit score is in shambles. Thus, You will have to check your credit report for unpaid accounts or collection accounts or mistakes and rectify anything that can adversely affect your credit score. If you have a damaged credit score then you will have to invest some money and time to get it rectified.
  • Check the property before applying for a loan: Your new house will be your only place for the rest of your life, so be very careful in choosing one. Young couples often tend to disagree on several things but when it’s their house, they need to be on the same page. Finalize a property when you both find it appealing.
  • Get the Documents right: You will need to furnish several documents to the bank before they approve your loans, so you will have to be ready with those when the time comes. You will be asked to provide your bank statements. Pay slips, tax documents etc.
  • You’re in it for love: In all the hustle-bustle of buying a house, you may often forget that your house is the symbol of your love. Do not lose faith on each other because of petty differences. Keep in mind – you’re in it for love.

Home And Real Estate: How Will You Be Able to Buy a House

Are you dreaming of having your own house? Do you also ask yourself the question, “Will I ever be able to buy a house?” Well, sooner or later, you will be ready to buy one. But if you still do not know how and you are still wondering if you could really buy a house, there are many ways of how you can get help.

house

Home and real estate are already one of the most competitive industries today and it is surely not easy to find the best home and real estate today. Below is a guide that you can follow before buying and how to can check if you can afford to buy the house you want.

Where to Start

  • Get a deposit together – Normally, you should save up in deposits before buying a home but it will not be hard for you if you seek help from your family to make depositing faster. Mortgages cover percentage of the value of your home which is the Loan to Value (LTV). The deposit is the remaining purchase price that you pay.
  • Check affordability – Look at the cost of homes. Go for the home that you can afford best so that there will be no problems for you when monthly payments come.
  • Check your credit report – It is an off for lenders if they see on your credit report that you have excessive debts  or you always miss your payments. But you can still get a mortgage out of your bad credit. However, it would be better if you get to improve your credit history to increase your chances of getting approved of normal mortgage. You should also understand mortgages first.
  • Find help – Get some help from your family or purchase a home with somebody else who is more likely to be accepted for a mortgage. A joint mortgage can save more deposit and it has an affordable mortgage payment.

How long will you be staying in your home?

Buying a home can incur expensive closing costs. If you are going to stay in that home for many years, these costs may spread over time. But if you are going to sell it after 3 years, the costs may be higher than your rent. In simpler terms, your period of stay has an impact if you should buy the home or just rent.

If you are asking if you will ever be able to buy a house, the answer is yes. You always have the opportunity in home and real estate. All you need to do is be wise and consider the above mentioned factors to go through the process with no hassle.

Normally, what you need to do first is do the math. Scribble the calculations and decide if you are already ready to step into your new home. However, this is easier said than done because numbers are too large when it comes to home and real estate. But with the right approach, you can do this well.

 

Will Buying a House Ever be Possible Again?

If you’re planning to purchase a new house in Bay Area, California, you’ll surely get the best offers from credible homes & real estate businesses. Generally, it’s possible for anyone to buy a new home when you have decided that you really want one. Purchasing a new house goes on a process at which you need to choose the right approach in order to achieve your goals at the end of the day.

When you are at the stage of deciding of whether you wanted to buy a new house or not, there are several things that you have to consider to make the most of your purchase. In the meantime, you have to think carefully about the type of house that you want to buy. During your search, you should study your family size as it matters that you live comfortably in your new abode if in case.

Funding is another big consideration for buying a house. In most cases, home buyers aren’t able to pay the house in full or cash so they opt for home loans and all other options to tap their finances. It’s possible to get a new home if you have enough money but if you’re short of fund, it might be difficult for you to find good deals in the market. You can look for a lender who can potentially provide you with the house at a good rate. Along the process, you will need extra services to help you find the best one. You might need a real estate agent to guide you in finding the most suitable house that you prefer.

In Bay Area, California, you’ll find great houses that will surely suit your preferences. Besides the fact that they are high quality constructed, you also get the chance to live in a good place with a welcoming neighborhood. Californian locals are friendly so you’ll get along with them easily. The moment you get enough funding, you can proceed promptly with picking your choice of house in the area.

Is it even worth it?

Thinking to buy a new house must go on a wise decision-making process. It’s crucial that you have planned it carefully before making any purchase. But, is it really worth it to buy a house? Should you be satisfied with renting a place and not having your own home? Definitely, getting a house that you can consider your own is worth your efforts, money and every single investment that you put into it.

At first, you might find it not necessary especially if you are convenient with your current place. Yet, in the long run, you’ll realize that it’s worth the try. Investing to homes & real estate is good try as you can take advantage of it in the passing of time. Buying a real estate property might be the most overwhelming decision that you ever did so far but, you’ll see; your decision can be a new beginning for you and your family.

Will It Be Possible To Get A 3.5% Or 3% Mortgage Loan? Would It Be A Good Idea?

It is natural that people want to establish a better future where they can live successfully and happily with the important people in their lives including their family and friends. Definitely, engaging on a mortgage loan can be helpful regarding this matter.

It is possible to get a 3.5 % or 3% mortgage loan. Meanwhile, you must make sure that you are dealing with a well reputable mortgage company that most customers sought after in the market. For sure you also have your own dream house where you can live for the rest of your life. Fortunately, you do not have to worry since mortgage loans can help you to attain your Homes and Real Estate needs.

The latter mortgage loan can be very helpful to stay in track of your life even you don’t have sufficient amount of money. As a result, you can expect great amount of savings which can support your financial stability. Even more important, you can now wisely allot your money in your other daily needs.

What are the rewards of this mortgage loan?

There are some instances where you are financially bankrupt. However, with the help of the mortgage loan, you can still attain your life’s long time dreams with the help and assistance of a reputable and professional Homes and Real Estate company.

As a matter of fact, you can have the chance to experience a luxurious and abundant way of living. All you need to do is to find a fully licensed mortgage loan service provider. Thus, this is the only way so that your hard earned budget, effort as well as your invested time to it will never be put into waste.

What is best in this mortgage loan is that you can have a reliable money source even you have a bad credit. As a result, you can enjoy your life with the people you love in the best possible manner. With this, you can be satisfied and happy about the status and quality of your life. You just have to apply a mortgage loan to support your housing needs.

However, you must choose carefully the company that you will dealt business with. This is to avoid further problems that can possibly give you depression and frustrations as well as regrets in the end. In addition to this, you can also expect a low amount of interest in the process of possessing your dream house.

If you are a budget conscious individual who has high standards and big dream, you can make a wise decision if you will now apply a mortgage loan on a specific Homes and Real Estate service provider. You can be surprised about the great savings that awaits you in this process. Additionally, you can choose the best mortgage loan package that highly suits to your taste, standards, as well as to your kind of lifestyle.

It cannot be denied that engaging in a mortgage loan for your future is quite challenging. Meanwhile, in the end, you will realize that it will be very helpful to attain the things that you deserve in life.

Six Best Ways to Avoid Foreclosures

A foreclosure happens when a homeowner is no longer able to pay the interest based payments on their mortgage, so that the lender goes ahead to seize the property based on the contractual terms in the agreement. Across the U.S, the financial crisis means that some home owners cannot meet their mortgage payments. Here are some clever ways to avoid foreclosure and buy you more time to get your payments in and pay your home.

Best Ways to Avoid Foreclosure

1. The first option is to contact your lender

Many home owners have lost their homes to foreclosure because they were in denial. Some with this mind-set keep hoping that the problem will simply vanish. However, this is seldom the case. It is important to contact the mortgage lender to explain your reasons for not paying up and also discuss the options. Lenders are most likely to help a borrower with innovative ways to keep their home especially in a tough market.

2. Take the refinancing option

Refinancing allows a person to replace their current loan with a different one. Refinancing gives the home owner an opportunity to obtain a lower mortgage interest rate, switch from an adjustable rate mortgage to a fixed rate loan or change the term of the loan.

3. Application for a Loan Modification

Instead of changing the loan through refinancing, home owners can also apply to have the mortgage rate changed to a temporarily or permanently. This option is usually open to people that can prove they are facing great financial difficulty.

4. Sell your home

There are two options for selling including short sale and deed in lieu of Foreclosure. The short sale option follows after the mortgage lender allows the homeowner to sell their home for less than what they owe on the mortgage. This option is not favored among many home owners but does not damage the credit of the home owner.

5. Rent the Premises

One ingenious way, though not always easy is to rent the building out. There are several ways to ensure that you get people to your home, with some online platforms also lending a hand. One important consideration is that the home should be attractive for occupation.

6. Declare bankruptcy

This is a poor choice as it prevents you from borrowing from any financial institutions for years. Chapter 13 bankruptcy allows home owners to keep their homes.

 

Image via Americans for Financial Reform