Is it time to purchase your first home? Owning your own home may offer many advantages including building equity, qualifying for tax deductions, and having a place to call your own. It also requires a level of financial and emotional readiness. Evaluating your position in each of the following categories can help guide you as you make this important decision.
Monthly Finances
Purchasing a home is a big financial decision. In addition to making mortgage payments you also have to factor in additional costs such as taxes, homeowner’s insurance, homeowner’s association fees, city assessments, and household repairs. Mortgage companies use a debt to income ratio (DTI) to determine loan eligibility.
According to Forbes, multi-generational living is on the rise and an estimated 60.6 million Americans are currently living in a multi-generational household. In Canada, recent census studies show households of three or more generations all living under one roof represent the fastest-growing household type. There are many economical and familial advantages to multi-generational living. It is important, however, to find a home that is well-suited for every member of the household. Keep these important considerations in mind when buying a multi-generational home. Continue reading →
Although buying or selling a home can bring about exciting changes for you and your family, it can introduce stress for your four legged loved ones. As a seller, having strangers coming in and out of your house can be alarming and upsetting to your pets. As a homebuyer, you want your new home to be safe and comfortable for every member of your family – even the furry ones. Whether you’re buying your first home or getting ready to put your house on the market, these pet safety tips for homebuyers and sellers will help make the process easier on you and your pets. Continue reading →
It’s your worst nightmare as a buyer: one minute, everything is a go for purchasing the house of your dreams and the next, the entire down payment is gone with little hope in getting it back. This nightmare, known as wire fraud, has happened across the country to buyers who have fallen prey to a phishing scam resulting in losses of hundreds of millions dollars with devastating results for those in the process of purchasing a home.
The way this scam works is hackers target email and other accounts with messages relating to real estate activities, collecting contacts/email address of those in the process of buying a property. The scammer then spoofs an email to the buyer, often pretending to be an agent, title company, etc., directing them on where to wire their down payment. For those unfortunate buyers who follow through, they are out their down payment with little chance of ever getting it back. Continue reading →
As we start the new year, many of us focus on self improvement and making changes. A majority of the new year’s resolutions people make are health related, but only about 8% of resolutioners succeed in maintaining their new goals.
Check out our tips and ideas to make your home and your home life work with you, so that you can be a part of the crowd of people who succeed.
Goal: Lose Weight
Losing weight and eating healthy are the two most common new year’s resolutions that people make. How can you use your home to help you shed some unwanted weight? Continue reading →
If you are preparing to move soon and trying to decipher whether or not hiring a professional moving company makes sense for your situation, take a look at some of the services that they can provide:Continue reading →
With all the hustle and bustle involved in the moving process, it can be easy to forget about the little details that make for a smooth move – like making sure your valuables are protected and you have enough moving boxes.
Here are a few packing tips to help you reduce your moving stress and make sure everything gets to your destination in one piece. Continue reading →
There are many logistics to think about when planning a move, and your budget plays a key role. The price of the moving company you choose is an important concern, of course, but there are other costs to consider as well. Getting a detailed quote and budgeting for these extra costs ahead of time can help you save considerably on your move.
Purchasing a home is one of the biggest investments you will make in your entire lifetime. However, it can be difficult to evaluate exactly how much you will need out of pocket to purchase a home. Although much of the home is financed, you likely will still be responsible for additional home purchase costs. Some of the most common homebuyer costs are listed below.
Purchasing your first home can be one of the most exciting and overwhelmingly stressful experiences of your life. Yet, armed with the appropriate knowledge and information, you can define your budget, get pre-approved for your home loan, shop for the perfect house and close the transaction with confidence.
