When you purchase a new home, there are a lot of costs that you might not think about. Some of the typical costs of homeownership, in addition to the mortgage payment (principal and interest), include property taxes, homeowner’s insurance, and utilities. However, these are costs that many people expect to pay eventually — even if … Read more 10 Extra Costs When You Buy a New Construction Home
Should you refinance your mortgage? The general rule of thumb is if you can reduce your current interest rate by 1% or more, it is worth it to do a mortgage refinance. And many people are happy to follow this rule as long as it lowers their monthly payment or lets them take out some … Read more Should You Refinance Your Mortgage? Refinancing Pros and Cons
If you are thinking about buying a house, you might wonder how much house can I afford? There is a significant distinction between what the bank will lend you versus what you can afford to pay. In general, a good rule of thumb is to pay less than 25% of your income toward your monthly … Read more How Much House Can I Afford to Buy?
Now that the house hunting season is in full swing, I thought it’s a good idea to revisit these house selling tips again. Although the economy has been improving, the housing market still favors buyers over sellers in many areas (with the exception of some low inventory areas where there are more buyers than sellers). … Read more How to Sell Your House Fast – 9 Tips to Get the Most From Your Home Sale
People are divided on the topic of early mortgage pay off — some say it’s a good idea, others disagree. This topic is highly debatable because there are so many factors to consider, and even a slight change in one of these factors could swing the answer in one way or another. In any case, … Read more Should You Pay Off Your Rental Property Mortgage Early?
Selling your home is not an easy thing to do. Most of us only get to do this once or twice in our lifetime, so there are usually more questions than answers. However, you can make this tough process easier by learning about and knowing how to avoid these five common mistakes. 5 Common Home … Read more 5 Mistakes to Avoid When Selling Your Home
I began investing in single family homes with a good friend and business partner about 4 years ago. In that time, we’ve purchases and remodeled 5 single family homes, all of which are rented by reasonably reliable tenants. Over that time we’ve learned a thing or two about investing in real estate. In this article, … Read more 10 Real Estate Investing Tips from a Successful Investor
I am currently in the process of buying a rental property and one of the questions that came up was: is it better to buy a rental house with cash, or is it better to take out a mortgage? Personally, I always believe that it is better to borrow, especially in this low interest rates … Read more Should You Finance Your Rental Property Purchase or Pay Cash?
When it comes to the costs of homeownership, most of us tend to focus on monthly payment and the size of the needed down payment. Sometimes, the cost of repairs and maintenance will come into the discussion as well, but there’s another cost that seldom enters the picture: transaction costs. We do think about transaction … Read more The Cost of Buying and Selling a Home
When you purchase a home, you make a mental judgment about how long you plan to live there. If the time frame is relatively short, e.g., less than five years, it usually doesn’t make sense to purchase. But sometimes our mental judgments are wrong, or life circumstances force us to move away unexpectedly. It might be … Read more How to Rent Out Your House When You Move Out of State