If you are planning on purchasing a home, it’s important to understand the difference between annual percentage rate (APR) and annual percentage yield (APY). These two items differ enough in how they work that they can significantly affect how much you pay each month in interest. [Read more…]
Where a school district is located has a significant effect on the property values of nearby homes. School districts with a good reputation attract families with school-aged children, creating a demand for nearby real estate. This demand can drive up property values.
The Wealth of Homeowners
In and of itself, a good school district is not responsible for rising property values. For the most part, good schools tend to be located in neighborhoods that are more affluent and have a higher standard of living. [Read more…]
If you’re in the market for a new home, there’s a lot to consider like price, square footage, number of bedrooms or bathrooms, the layout design and more. But one of the most important factors is the quality of nearby school districts. Even if you don’t have children or don’t plan to have any, school districts should be on every buyer’s radar. [Read more…]
A new home is one of the biggest purchases you can make. So to buy the home you want, it’s a good idea to start saving up early so you can cover the costs of buying a home. To start saving up, opening a savings accounts is a great first step for future homeowners. When you open a savings account, there will be a savings rate associated with that account. What is it and how does it affect you? [Read more…]
While spring and summer are the high season for home sales, fall can be a buyer’s market. There are several benefits of buying a home in the off-season, like lower prices and quicker closings.
Higher Availability of Industry Professionals
An advantage of buying a home in the off-season is the greater availability real estate and mortgage professionals. Agents will generally have fewer clients and more time to focus on your home search. Lenders will be more accessible for questions and assistance. Some lenders may even waive some fees during the off-season to encourage borrowers to use their services. [Read more…]
You’ve mastered spotting and avoiding predatory lending, but now that you’re buying a home, you need to be on the lookout for real estate scams. Many of these scams sound legitimate and are often designed to take advantage of new homeowners or those who haven’t done their homework. Remember, if a deal seems too good to be true, it probably is. But with a little preparation and research, you can avoid scams when buying a home. [Read more…]
Shopping for a new home is an exciting time and you may have built up this image in your mind of what it should be. While having what you want in mind is perfectly normal and expected, you must recognize that you must manage your expectations when looking for a home. Doing so will help you manage and reduce any stress that comes with buying a home and keep you on track. [Read more…]
Are you ready to invest your money into a home? A home is one of the biggest assets and investments you will ever have, but it’s also a non-liquid investment. Once you make your down payment, you can no longer easily access that money for any other reason—even if it is an emergency. So before you think about purchasing a home, you need to do a serious review of your financial situation and do some risk management. [Read more…]
When you put in an offer for a home you’d like to buy and have signed your real estate contract, you will have entered your due diligence period. The length of this period varies from contract to contract, depending on your needs and what has been negotiated with the seller. [Read more…]