Posts from August 2023
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10 Things No One Told Me Before Buying A House
Buying a house is a rewarding but complex adventure. The more you know about the process, the easier it is for you to find the right deal for you.
Over and over, first-time homebuyers, in particular, have mentioned there are things they wish they'd known. This list of ten common "things no one told me before buying a house" will get you off on the right foot when it's time to house-hunt!
- Down Payments
It wasn't that long ago when a 20% down payment was considered standard for buying a home. Things have changed: Lenders are often willing to work with you on a lower down payment. There are even first-time homebuyer programs that require a very low or no down payment. - School Districts
Homebuyers who don't have children and don't plan to in the future often over...
18
First-Time Buyers: Do You Know The 5 Cs Of Credit?
Buying a house comes with a lot of considerations for anyone and especially first-time home buyers looking to get into the housing market. Usually, home buyers put a lot of thought into how they can afford a home but often forget about building creditworthiness or ensuring that they are a worthwhile risk for a lender.
If you're a first-time buyer, do you know the 5 Cs of credit?
- Capacity
From a lender's perspective, capacity is a borrower's ability to repay a loan and comes down to largely your income versus expenditures or other debt obligations. Some lenders may take your current income and project it decades into the future to see how your income will change over the time you have your loan.
Capacity also deals with your cash flow which can raise a big red flag if you spend unnecessarily or have considerable d...
14
Home Improvements Sellers Wish They Never Made
When selling your home, it's wise to do some small, targeted home improvement projects. A touch of something new here and there can do a lot for the way potential buyers see a home, so minor investments of a few hundred dollars each may add thousands to your asking price. Many of the best projects don't even take long to complete.
And then there are the "other" projects.
Selling your home can be a hectic time. If you let the stress get out of control — say, by not having a trusted real estate agent on your side — it can really influence your decision-making. That might explain why so many sellers are attracted to costly and unsuccessful renovation projects. The idea that "bigger is better" can seem much more attractive when you're on a tight deadline and handling everything on your own. Most of the...
2
10 Skills Every New Homeowner Should Have
Homeownership is an investment in your future. As with all investments, your home requires constant vigilance and a little maintenance along the way to protect its value. When you buy a home, the following are ten skills you should master as soon as you sign on the dotted line.
- Gutter Clean-Out
You should clean your home's gutters of leaves and debris twice a year. A leaf blower, hose, and broom handle can make this job a little bit easier. Cleaning the gutters help protect your roof and siding from water infiltration. It also helps ensure proper drainage away from the foundation. - Adjusting the Water Temperature
Learning how to set the thermostat on your water heater can generate significant energy savings. Most homeowners find that 120 degrees are suffic...
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