Buying a home is not only a huge financial decision but it taps the emotional side too. The property that is going to be purchased can be a family heirloom and an investment that many generations can benefit from. For first time buyers, choosing what to get can be daunting and more often than not, can and will affect the buyer to shy away from buying a property. Owning a property has its own pros and cons, and if someone is not aware of what to look for while buying a property, he can acquire a property that is not fit for their need.
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Even though buying a home is cheaper than renting in many cities, it’s still expensive, and there are many expenses that first-time homebuyers might overlook. Zillow and Thumbtack estimate that maintenance and other expenses cost homeowners over $9,000 a year on average.
July 4 is Saturday, which makes the next three days a glorious holiday weekend.
On Friday, the banks are closed, government offices are closed and title companies are closed, too. Besides reminding me of how nice holiday weekends are, it reminds me how important it is to take some time for reflection. When buying a home, you have to be careful to factor in this important step in the process – the time to think things over.
My dad had a great saying, and summer was a time when it seemed to me he used it a lot. I can still see his reaction when we were anxiously asking about going somewhere like the beach on a really hot day or a trip to the amusement park where we heard...
In two-thirds of countrys major metro areas, buying a home makes more sense than renting, even if the homebuyer stays in the home for just two years. But for other parts of the country, recouping the expenses and costs associated with buying a home will take a lot longer. In some metro areas, more than five years.
In these areas, it may make sense to rent a home as opposed to buying one — especially if you plan to only stay a few years, even with low mortgage rates and rising home rental prices.
This latest meeting of the eurozones finance ministers was enough to leave one speechless. Both sides – that is the Greeks and their creditors – stuck to their guns, completely unwilling to reconcile or compromise, all the while reiterating that each respective side has been
extremely obliging throughout the negotiation process.
This just cant be right. The one side has an absolutely unrealistic view, distorted by ideology, of how to solve the problem. You know who I am talking about: Yanis Varoufakis, Greeces finance minister, who since the negotiations began in February seems yet to have grasped a single thing.
Professor Varoufakis fills his speeches with...
With housing inventory low and prices rising, some people are deciding to partner with friends and buy a home together. This scenario allows people who otherwise would not be able to afford a house to share expenses and achieve homeownership.
Renting a condominium or a home with a friend is commonplace. But how do you know if buying a property jointly is the right move? Here are six joint purchase tips to consider.
oThis is a business transaction. Purchasing a property will involve open, frank conversation with your friends about their finances, their future plans, what to do if someone wants to sell, etc. If these are conversations you are uncomfortable having, then co-purchasing...
Based on polls of its site users, the National Association of Realtors says the housing market is on track to enjoy one of its best years since 2006, despite slow indicators earlier in the year, and positive millennial sentiment is adding to the momentum.
In the first half of June, realtor.com saw visits and mobile applications by older millennials, those between 25 and 34, looking to buy a home increase to 23%, up from 21% in January.
In mid-June, it also observed that the share of visitors looking for rental property had decreased to 20% from 26% in January.
Realtor.com said its survey data was based on a daily representative sample of site visitors. This analysis examined...
I’m sure this question has been asked before and you have shared it with your readers. However, what if a buyer wants to purchase a home from a seller without an agent. Are they usually taken seriously without representation? Will you please explain why? — Latrecia in Nashville
Good questions, Latrecia, and thanks for writing in. There seems to be a growing trend of “want to be buyers” going directly to sellers with the hopes that they might get a better price when purchasing. And even IF a seller would take an unrepresented buyer seriously, from my vantage point, it’s not a good idea nor worth the risk for either party. And that conviction has little to do with...
The Consumer Bankruptcy Bill, which will soon go to a second reading in parliament, aims to release heavily indebted citizens from their obligations and give them a chance for a fresh, more responsible start, but some civil society organisations fear that many people who opt for personal bankruptcy will find themselves in poverty after their property is sold, a round table organised by the Justice Ministry heard on Tuesday.
The survey found that 57% of the respondents agreed with the statement it is very difficult for most people to get approved for a mortgage. In last years survey, 61% agreed with the statement.
By household income, 64% of those earning less than $50,000 a year believe it is difficult to qualify for a mortgage, but just 49% of those earning more than $100,000 a year concurred.
More than two-thirds of respondents believe they need a very good credit score to buy a home, with 45% stating that a good credit score is 780, the survey found.
The average credit score of a consumer who comes into Community Development Corp. of Long Island seeking information on buying a home is 750,...