Everything you need to know about paying off your home early, getting a mortgage and saving money around the house.
Are you tired of paying rent and listening to the demands of a stubborn landlord? How about buying your own house?
Living in their own house is what most people look forward to from an early age. However, buying a place with only your savings may not be the safest bet. You could end up with too little money to finance your other requirements.
That’s where home loans can rescue you. You can borrow the required amount from a financial institution and pay it off in EMIs over a fixed tenure.
Before applying home loan it is important to look at the eligibility criteria in order to know if you qualify for a loan. Here is a list of the most significant factors that banks take into consideration when giving out home loans.
Airbnb is the personal accommodations website that’s taking the overnight guest industry by storm. If you’re considering posting your home or personal property on the website to make a supplementary income, you’re not alone. People across the world have taken note and put their homes up for grabs, but this route is not without its caveats and risks. Before you take the plunge, consider the risks and rewards that come along with this venture.
When you go to sell your home, if you’re like most people, you’ll hire a real estate agent to help you. They’ll come over to your home and do what they call a listing presentation. The listing presentation is where they tell you all the things they’ll do to market your home, what they think your home is worth and how much you’ll pay them (customarily 6% of the sales price) when the home sells. And if they’re like most agents, sometime during their listing presentation they’ll point out that the objective is to sell your home for the highest price. But that’s not true. It’s a lie. Actually it’s a sequence of lies.
The sequence goes something like this: what you want, Ms. home seller, is to sell your home for the highest price. The only way you can guarantee that is to hire a top notch real estate agent (i.e., me). And the only way to do that is to pay the full, customary commission.
Anyone that works in finance will tell you the immense power of leverage. Leverage is basically taking more money than you have to boost your profits in an investment. You can have someone either lend you money or invest in your venture and have more cash working for you than you can afford by yourself.
Using leverage like this works well for relatively stable investments like real estate. Buying a house and flipping it for a profit is more clear cut for most people than investing in stocks, bonds or commodities.
And the lender of choice for most people is a bank. The mortgage industry, however, isn’t what it used to be and after the last financial crisis banks have gotten pretty risk averse when it comes to making loans out to individuals.
Your chances of getting a bank loan may be reduced by certain aspects of your career and credit history and that’s where you may have to turn to private lenders.
They say that moving homes can be one of the most stressful experiences you will ever go through in your life – but moving can not only cause stress for the body and mind, it can also place huge strains on your bank balance (and this is after you’ve purchased your new home).
In this article, I will cover nine steps to ensure that the financial burdens of moving are lessened and your bank account can breathe a sigh of relief.
Americans spend billions and billions of dollars on wasted energy.
For the average American, it’s either ignorance or pure laziness that accounts for much of the waste.
Of course, it does no good to complain, we can only do our part. Here’s how…
Home improvements are a great way to add value to your home.
At least, that’s a common belief. But are they really? And which improvements give you the best bang for your buck?
The answers to these questions are probably not the same for everyone, and may depend on your definition of value. If you’re selling your home, value may be measured in monetary terms, but if you just want to increase your comfort level, this definition may include luxury additions that add little monetary value.
Here are a few quick and easy home improvements that may or may not increase your home’s value in your eyes. We’ll let you decide:
The relationship between real estate agents and investors is often adversarial in nature. However, if both parties are willing to overcome their misconceptions about the other, investors and agents can provide immense value to each other. Agents help clients successfully navigate the hurdles of the buying and selling process while investors are savvy at assessing profit potential in homes. When combined, the skill set of real estate agents and investors can create a mutually beneficial—and lucrative—partnership.
If you’re an agent or investor, use these tips to facilitate a successful collaboration.