4 Things To Do While Saving To Buy A Home

4 Things To Do While Saving To Buy A Home

Being a first time home buyer, you do have some homework to do outside of just choosing a realtor. The realtor can explain and direct you to the best of their abilities in purchasing your home. Aside from the obvious step of saving money, here are 5 things you can do to make the process that much easier. Understanding the full cost of home ownership When you rent, the one payment covers just about everything (utilities excluded). You’re not fixing the broken sink, appliance, or any taking care of the grounds, its the owners responsibility. These are things as a new homeowner you need to brace and prepare for. Luckily, in most first time home buyer situations, taxes and insurance are included in your monthly mortgage due to the type of loan product most popular with first timers. If you’re pursuing a condo, you’ll have to factor in that condo fee (HOA) as an additional expense. These are all things you need to factor in and decide if you will be able to afford as well as the new mortgage. Know the Buy Vs Rent Pros and Cons Renting may actually be a better option for some individuals. Maybe somebody that isn’t completely set on living in a certain area due to career or personal factors. Some people aren’t able to own a home because they don’t have the time or funds to maintain it. Buying is becoming cheaper than renting in most areas of the country due to the tax breaks at the end of the year set for homeowners. This is something that you and a realtor...

The 5 Reasons You Should Buy Your Home This Fall

With all the beautiful Connecticut foliage, happenings, and fairs going on during another New England fall season, real estate is something else you should have an eye on. While spring is the most popular buying season, here are 5 reasons you should buy a house this fall. What’s left of Spring Inventory may work for you As stated before Spring is when most sellers list their home initially, but what happens when they don’t sell? Most sellers stay on the market in hopes of selling and may end up with a home that sells less than its market value. Less Buying Competition A biy motivation in buying is closing before school starts, and now that time has come and gone. Many are also hesitant to buy in the fall and cooler months of the year. Many Sellers want to close by years end Some properties aren’t homes and investments for some owner, so the tax consequences can be motivation for a seller to make a deal. Some agents even convince sellers to offer incentives and extra discount to buyers whom can close by years end. Homes on the market during holidays usually have motivated sellers Many don’t like their home to be viewed or open during holidays and disrupting their family gatherings and events. If a seller is listed during this time, then in most cases they’re motivated and likely to work harder to put the deal together. The great landscaping is gone Flowers are starting to die and trees losing their leaves so the beauty of the landscaping for homes is going away. This will let you know...
5 Areas To Focus On To Add Value To Your Home

5 Areas To Focus On To Add Value To Your Home

Once you make your house a home, the value of it multiplies to you. You’ve raised your family there, likely grew in many areas of life, and it may have even been your first taste of home ownership. While all of these are great things and views on why your home is great, that doesn’t necessarily add monetary value to your home. The next buyer won’t really look at your home that way and rightfully so, being real estate transactions are a business. If you’re looking for some areas to focus on to add value in the eyes of buyers to your home, here are the 5 places to do so. Kitchen This is usually the biggest and best place to add value to that home. Whats usually the first thing people fall in love with in a home? Its usually the kitchen. While a major renovation can and will be costly, doing minor projects can get you there and to the same place. Maybe choosing to refinish existing cabinets as opposed to replacing the entire space of cabinets, can save you thousands and have the same look. Step by step is always the best way to go for somebody on a budget. Shopping around and tying all your ideas together will get it done and get that kitchen ready to make your home that much better. Bathroom Updates The smallest room can add big value to every other space in that house. Being that it is the smallest, it usually doesn’t cost too much to make it shine. Less floor space make it easier to re-tile the floor,...
5 Steps To Start Improving Your Credit

5 Steps To Start Improving Your Credit

Credit is a vital part to success and ease in your adult life. Having bad credit will result in you having to pay more in interest rates on cars, homes, credit cards, and even personal loans. If your credit score is really low, you’ll likely come across a denial in more cases than not. So what do you need to do to start on the path to improving your credit? Here are my first 5 Steps to Improve Your Credit KNOW WHERE YOU STAND In order to solve the problem, you must first know where you stand. There are several places online that offer a free estimate of where your score is (most popularly www.creditkarma.com). Visit Annualcreditreport.com to pull a report from all three bureaus. Although you wont have a score, you will see the things that are reporting and things you need to address and have possibly disputed. START TO BUILD YOUR CREDIT HISTORY While removing bad or inaccurate items off your reports are helpful, they wont necessarily make your score rise. You have to maintain and have all credit accounts in good standing. The easiest and best type of credit to get is a revolving credit or secured credit card. They usually report monthly to all three bureaus and if used correctly will lift your score. The biggest rule of thumb is to keep every balance under 30% of the available limit. RESEARCH CREDIT OPTIONS AND DON’T JUMP AT FIRST OFFER Just because you get a card offer, don’t just accept. Most people don’t read the fine print of the card info. Be careful to see what the...
6 Things To Know Before You Become A Landlord

6 Things To Know Before You Become A Landlord

Real estate is one of the most trusted and surest ways to gain wealth. Everywhere we go is Real Estate, and we are always on somebodies property. Being a Realtor, I held many buy property and often help first time buyers become landlords. This is a great thing to do and can save and make you a lot of money, and sometimes result in you living rent and mortgage free. Its not easy of course and will take patience and being in the know. Here are 6 things to know before becoming a landlord. Buy Locally It may seem pretty obvious but sometimes, ones hometown isn’t the best place to own a multi-family home. You want to be able to be within reasonable driving distance to the property so that you’re not going out of your way to visit it. Know Landlord laws Knowing what you’re legally able to do is often an overlooked step. While you may have experience dealing with a landlord, that’s not enough to handle a new tenant relationship. Knowing the laws and loopholes of this business relationship will keep you in the clear and out of court. Your local laws are located on this site. https://www.jud.ct.gov/lawlib/law/landlord.htm Enforce timely rent payments This is another overlooked thing. The best way to go about this the right way would be to possibly list a late fee to rent in the lease. Keep in mind this is business, so regardless of a friendship developing, rent still is late after the 10th. By all means, keeping a good relationship can be done and while being firm on when payments are...
5 Improvements That Can Increase Your Home Value

5 Improvements That Can Increase Your Home Value

The value of a home is always something important that the owner should constantly work to maintain and increase. Whether you’re looking to stay in the home for 5,10, or 20 years you should always do things to increase the value of the home. Some people often don’t know the things that directly add value to a home. Here are 5 improvements that increase the value of a home. New Kitchen The place that will usually draw a buyer to a home is the kitchen. The newer and shinier, the more appeal the home will have. If you don’t have the ability to overhaul the entire kitchen, start with little projects and go from there. Starting with new fixtures, flooring, appliances, and paint can change the entire look of that kitchen. While cabinets and counter tops may be huge renovations, saving for them over time will defray the cost and make things easier. Bathroom Updates While its usually the smallest room in the home, it can possibly have the biggest impact. Just like in the kitchen, starting small is the best plan of action. Changing the vanity, paint color, or fixtures can update and change the entire look of the bathroom. Being that the bathroom is small, laying new flooring wont break the bank and will change the entire scheme of things in the bathroom. Another thing to possible consider if you have tiling would be to re grouting the tile may be a very inexpensive option. Lighting  The brighter the space appears, the bigger it feels and seems. If you’re listing the home for sale, you want that...

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