If you're trying to buy a new home, few things are more frustrating than a hot real estate market. When home prices are climbing fast it can feel like you'll never be able to save enough for your down payment. In today's post we'll share a few ways that you can get in – even if you're feeling priced out. Start Smaller And Upgrade Later If you're a single professional or a young couple, it might be wise to start with a smaller starter home. While a townhouse or condo might not feel as large as a detached house, they are more affordable options. Starting small allows you to build equity in … [Read More...]
Last week's economic readings included reports on construction spending, Case-Shiller Home Price Indices and pending home sales. Fed Chair Janet Yellen said in a speech that federal interest rates would "likely" be raised. Weekly reports on new jobless claims and mortgage rates were also released. Pending Home Sales Slump as Available Homes Dwindle Pending Home sales fell in January as inventories of available homes declined. Prospective buyers faced with fewer choices may have chosen to wait rather than purchase homes that weren't a good match for their needs. Analysts expected pending home … [Read More...]
There are so many details involved in the mortgage process that you may not be aware of what pre-approval is if you've just entered the market. However, pre-approval assesses your ability to make monthly mortgage payments and can be an important first step in the home-buying process. If you're currently contemplating a home purchase, here's why you may want to consider pre-approval first. Improved Agent Attention Real estate agents may be reluctant to spend the time or put significant effort into a homebuyer that has not been pre-approved for a mortgage. While a good real estate agent will … [Read More...]
Are you thinking about buying that perfect new home? Whether you're buying for yourself or a new home for a family, there will be many costs involved. Let's take a look at 3 budgeting tips that will help make home ownership on a single income easier. Get A Full Picture Of Home Ownership Costs Buying a home is never as simple as paying a mortgage payment each month. So, as with most budgets the first place to start is a full consideration of everything involved. On top of your mortgage, what other monthly costs will come up? Consider utilities like electricity, phone, cable, water and others. … [Read More...]
When you've been in your home for a while and have established a certain amount of equity, it can be a good feeling to know that you have an investment you can count on. However, with changing weather patterns you may be afraid of a natural disaster striking and what it could mean for your financial well-being. If you're curious about how this can impact your mortgage, here are a few things to consider. Determine Your Protection The thought of having your home adversely impacted by a natural disaster is bad, but it can be even worse if the proper precautions haven't been taken to insure your … [Read More...]
The idea of purchasing a property and having renters can be an exciting business venture that offers lucrative financial rewards. However, there's a lot involved in being a successful landlord and it's important to be aware of what's required before making the commitment. Whether you're investing in one rental property or five, here are some questions you should ask yourself before getting involved. Can You Do-It-Yourself? There's a lot more to being a landlord than taking the rental check, and one of these things is being there for the tenant when push comes to shove. If there are issues with … [Read More...]
