Like many young couples, Bryan and Allysann looked forward to owning their first home together. They quickly discovered, however, the financial requirements for home ownership can be daunting … even a bit discouraging.
Maybe you’re tired of writing rent checks each month, knowing that your hard-earned salary funds your landlord’s real estate investment. Or that living below a bunch of hard-partying college kids has worn thin, along with your apartment walls, which are more like Egyptian papyrus — and as old, too!
Many seniors avoid seeking help for their money problems, citing reasons such as not wanting to bother people, not knowing who to trust, and feeling ashamed. Yet trying to deal with debt issues alone is often not the best approach. While money problems may be uncomfortable to talk about, there are resources where you can find valuable assistance.
In order for this to be an enjoyable, rewarding and lucrative experience, it’s vital that you’re fully aware of what’s involved and required to be successful. While this article not meant to deter you, it is meant to honestly depict all the responsibilities of property ownership.
Now that you’ve found a property, it’s time to start looking for financing. Talk to several lenders, compare terms and rates and decide if this is someone you can comfortably work with. Yes you need to like them, but you also need to make sure they are someone who can help you understand all the issues associated with purchasing investment property. Pick someone you trust and find easy to work with.
Buying a home is a major commitment. It’s a bit like, well, getting married: you’ve got to be ready and you have to find the right “one.” And, like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care and attention.
My son is not renting his Boston condo, though you may see it listed for rent on Craigslist. Yesterday, an astute woman searching for an apartment in the city spotted the scam ad and contacted my son. It turns out his is one of many properties featured in a common real estate scam.
“When the woman was asked to wire money to a routing number, she became suspicious,” he told me. “She found my name as the owner of public record and reached out to me on Facebook to find out if the ad was legit, and that’s how we discovered the scam. It’s a little unnerving.”
My wife and I try to keep our home maintained and major equipment in good working order. We do this for two reasons. First, we like having things in good repair so we can enjoy them more. Second, we expect it to help when the time comes to sell our home. But, does regular home maintenance really improve my home’s value?
When you visit a beautiful vacation destination, have a wonderful time, and plan to return again and again, you may dream of owning a home there. However, for many, a vacation home – with the big down payment, monthly mortgage, and ongoing maintenance costs — just isn’t in the budget. An alternative many people consider is a timeshare, which can seem like a cost-effective alternative to hotel stays. However, as with any major purchase, a lot of careful research should go into deciding whether or not a timeshare is the right choice for you. Here are four questions to consider before buying a timeshare.
A credit score is one of the pieces of information that we'll use to evaluate your application. Financial institutions have been using credit scores to evaluate credit card and auto applications for many years, but only recently have mortgage lenders begun to use credit scoring to assist with their loan decisions.