5 Reasons Why Owning a House Is a Good Investment for Retirees?

With the strong housing market, many people are wondering whether or not they should invest in a home. There are many people who say that a house is the best investment that anyone can ever make. However, buying a home the right way is crucial to making a good financial investment specially when preparing for retirement.

The type of loan that you get on a home is also important. With the housing market improving, many banks are more willing to be flexible with financing than in previous years. Here are some of the most important aspects of buying a home and getting the right loan for your situation.

Do Not Buy Based on Emotion

There are some people who wrongly buy a home based on emotion. This is a bad decision for a variety of reasons. Buying a home is a long and difficult process, and mortgages are hard to get. During this time, there are going to be homes that you want that sell quickly. Instead of getting upset, you should simply move on to the next home.

Buying a home should involve math and logic. Instead of worrying about the color of the walls, you should concentrate on things like the growth of the area and how many square feet the house contains and its location. Over time, if you buy a home in a growing area, you have a much higher chance of making money from it long term.

Other Loan Options

There are even some people who own their home. This is a great accomplishment and gives them a lot of financial flexibility. Some people who are on a fixed income struggle to pay all of their bills. If you own your home, you can turn it into a source of income.

A reverse mortgage will actually pay you for living in the home. This is a great way to make money every month while staying in your home even after you retired. Before signing up for a reverse mortgage, make sure to conduct thorough research on reverse mortgages on different products in the market. The more research you conduct, the more comfortable you will be with the entire process.

Understand How Much You Can Borrow

Another important step in making a quality investment is to understand how much money you can reasonably borrow. There are some people who make the mistake of borrowing too much money based on their income. This is a major mistake for a variety of reasons.

When you have a high loan payment, it restricts other areas of your life. There are many people who have a beautiful home, but they are not spending any money on retirement or saving for their children’s college education. Having a big and beautiful home is a dream for many people. It should not come at the expense of other financial goals in your life. Remember, just because you can borrow at a certain amount doesn’t mean you should!

Building Equity

Homeowners build equity in a home in several ways. As the prices of homes increase around you, your home will increase in value as well. The difference in the potential selling price and how much money you owe is your equity in the property.

If you have a typical mortgage, you will pay down the principal over a period of many years. The lower your loan term, the higher your payments toward the principal on the debt. There are many people who pay extra on their mortgage to attempt paying it off early. This is a great way to save money over a long period of time.

Overall, buying a home is an exciting process. Make sure to conduct thorough research in order to make a good financial investment in your area.

 

Why Every 30-Something Should Invest in Real Estate

No matter what profession you’ve chosen to go into, investing is a great way to pad income and start fast-tracking your future security. But investment can seem overwhelming, not to mention risky. Real estate is one of the best investment strategies you can take. Let us tell you why.

It’s a solid investment

Putting money into real estate has long been considered one of the smartest long-term investments out there. Property value tends to almost always increase over time, regardless of the market, because people will always need somewhere to live. This is why real estate is also considered one of the safest investments. Unlike companies or brands that may fall out of favor, housing is a necessity.

You don’t need to be a pro

While understanding the stock market may require years of study, investing in real estate doesn’t require fancy education or special certifications. Of course, this type of knowledge doesn’t hurt, but it’s not a necessity. To start you simply have to go online to begin researching properties being represented by a registered realtor or real estate firm. This isn’t to say there isn’t any work required — you’ll want to do as much investigating online as well as take the opportunity to visit open houses, auctions and talk to as many well established industry people as possible before making a purchase.

Technology is an ally

What’s awesome about investing in real estate today is that you have the power of technology at your fingertips and it has made managing property investment much, much easier. Social media platforms like Facebook now serve as additional marketing channels, while there are hundreds of real estate listing websites to help you get your properties seen. So, if you’re planning on buying and selling multiple properties, or even considering flipping houses, there’s many more options for advertising.

It’s flexible

What’s great about investing in property is that you can customize your investment strategy so that it’s tailored to meet your financial goals. Whether it’s long-term capital, which focuses on growth that develops over the long haul; positive cash flow approach, where you can see returns by taking on renters, or adding value by changing or renovating a property, there are many options for you to choose from. Additionally, there are various investment entry points that work with a range of budgets. The most important thing realtors look for is that your income is sufficient enough to make your payments; however, the goal is that if you buy wisely and do research on the area in which you’re buying, you’ll eventually see growth.

You can be hands-on or hands-off

Investing in property doesn’t mean you actually have to manage the property. You can choose to strategically buy and sell to see returns, or you may decide to oversee your property as a landlord and manage tenants. There’s lots of advice and tips for new landlords out there if decide to go that route; however, keep in mind, even if you decide to invest in properties to rent, you don’t have to play landlord if you don’t want to. There are plenty of property management companies that will take on the day-to-day operations so you don’t have to.

It’s tax deductible

Depending on the state you live in, certain tax codes allow for a range of deductions, covering everything from the cost of upkeep, maintenance, interest on your mortgage or any renovations you may have completed.

You’ll thank yourself later

While you may be a bit hesitant about putting the money out now, investing in real estate is something you’re really going to thank yourself for later. However, like most investments it’s going to take a bit of time, and it’s going to take some work on your part. Do your research and make sure you buy wisely. Don’t be afraid to seek out counsel and ask questions.

How to Sell Your Home Quickly for a Good Price

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Give your home a new lick of paint, de-clutter, and modernise the kitchen if you can afford it. These are all common ways to make your property more desirable when it’s time to sell. For those of you who are already aware of these tips and tricks, though, you may be wondering what else you can do to improve your chances on the market.

Ask Yourself If It’s the Right Time of Year to Sell

The first thing many people ask their estate agent is “Is it a good time to sell my home?” Whatever the season, you’ll typically get a positive response. However, you should remember that the vast majority of estate agents work on commission so it’s in their interests to take on your property. The truth is there are certain times of the year where homes are proven to sell better.

Spring, or between February and June, is the best time of the year to sell. This is likely because people aren’t travelling away for the summer or preparing for Christmas. The weather is also starting to look better, so you can take full advantage of your home’s curb appeal. The start of Autumn, between mid-September and mid-November, is also a good time to sell, but, if you want to get the best results, you should avoid the end of the year and the middle of summer.

What to Do When You’re Struggling for Cash

If you’re struggling to sell your home and you the need the cash right away, you may want to consider a professional home buyer company like Quick Move Now. They will make you a formal cash offer for your home, whatever the condition, and you could even have the money in your account in as little as seven days. This type of deal is popular amongst the owners of homes that need redevelopment work, which can be expensive and time-consuming.

Buying homes that are in need of major renovation is a risky investment. Like most risky ventures, though the potential payoff can be huge. Properties that have suffered from serious structural damage or have been neglected for many years can be purchased for very low prices, making them attractive propositions to inexperienced buyers who don’t realise how much work needs to be done. Make sure you know the risk before you get involved though.

Selling a property can be a difficult time, but the end rewards will be worth the effort. Just make sure you consider all of your options before you commit to the sale.

Different Ways To Make Money In The Real Estate Market Without Credit Checks

Not all people have the money that is necessary to buy a brand new real estate property. With this in mind, it is quite obvious that many stay away and do not even think about entering the market. Do not make the same mistake if you are really interested because of the fact that there are various situations in which you do not need a lot of money in order to take advantage of the opportunities that appear. Here are some of the options you may want to consider.

Real Estate Wholesaling

This is basically the easiest way to make a great investment in a really short period of time. You need to locate a property with a seller that wants to sell really fast. Then, you have to put it right under contract and then close it with the use of a special Hard Money Loan. The contract is then sold to a potential homeowner or a rehabber. A lot of money can be made with such a transaction. There are people that make between $10,000 and $100,000 for just one transaction and there are practically no limits. You just need to find the best opportunity.

Buy Homes That Have Financing

There are various homeowners out there that will allow you to basically take over the existing mortgage. The only thing that you would need to do is make the payments on time. As you then sell the property to a homeowner, the difference is paid out and profit is automatically made. You can consider non-performing loans so that you acquire home note. That allows you to make the highest profit when using this strategy.

Contract Assignment

Just put the property under a contract and then find the buyer that is to purchase for a higher amount than what you offered for the seller. Sell the original contract to the buyer. You basically end up making money when the contract is sold. Up to $20,000 can easily be made when you choose this option and you should be aware of the fact that this is the most often used method to enter the real estate market as a brand new investor, according to info offered when you click here.

Remember that these are just some options that are available for you. Many others are available. You just need to find something that you are completely comfortable with and you will be able to make a lot of money without having to go through a long credit check to get a loan.

Increasing the curb appeal of your home

canstockphoto6625778Real estate agents around the world go on and on about curb appeal. Why? Because it’s a vital part of selling homes. Before potential homebuyers even set foot inside a property, they’re inspecting the outside to see if they get the right vibe. And, no matter how much people may love the inside, if the first impression outside has put them off, it’ll be nothing but a hard sell from that point on.

How to increase curb appeal 

Luckily, there are many ways to increase curb appeal and make a property look beautiful and inviting. Firstly, it’s important to pay some attention to flowerbeds, shrubs and trees that may be around a home. These effectively create a picture frame, with the content being the building. Therefore, by improving the appearance of the exterior, potential buyers are more likely to be excited about what’s inside.

Flowerbeds should be cleaned so that there are no visible weeds, and in the depths of winter, plants should be cut back and mulch applied so that even in its barren form, a border still looks presentable. Large shrubs should be trimmed back into an organized and managed shape, whilst tree branches that may have grown over a home, should be removed. In addition, those not wanting to invest a huge amount of money on their curb appeal can use new plants in containers for maximum effect. These add color and interest; yet can be taken away when moving.

The look of windows is also another important factor when increasing curb appeal. In the same way that the eyes are often said to be gateways to the soul, windows are often the first chance that people get to have a glimpse inside. For this reason, glass should be pristine and smudge free, and window frames need to be cleaned. If they are wooden then applying a fresh coat of paint is also a good idea. Inside, it’s important to open curtains, and on the outside, wooden shutters can be used to add even further attractiveness.

Another thing potential buyers will be looking for is possible damage to a home which may eat into their budget. For this reason, it’s a good idea to check the roof for possible problems. Any broken tiles should be replaced, and gutters should be thoroughly cleaned out. This ensures that guttering won’t provide an eyesore, nor will it concern people about cost implications of having it fixed.

Finally, to get the front of a property as clean and gleaming as possible, it’s a good idea to hire a jet-washer and give all hard landscaping a thorough wash. Paths, brick walls, pots, steps and even the edges of flowerbeds should be washed clean, giving them a new lease of life.

Increasing curb appeal isn’t hard, and with it being an important part of selling a home, it’s vital that homeowners take steps to tidy up. And, by putting in a little time and effort, people could be handsomely rewarded with a quick and successful sale.

Benefits of Not Paying Off Your Mortgage Early

canstockphoto6625777You’ve probably heard a lot of advice saying to pay off debts as soon as possible. Yes, a mortgage is debt and it often comprises a large portion of a homeowner’s monthly expenses. While paying it off early definitely has some advantages, it also comes with significant drawbacks.

First, mortgage interest rates are currently at or near their lowest levels on record. If you recently borrowed money to buy a home, you probably got a much lower rate than somebody who bought their home five or ten years ago. The interest savings from making extra payments won’t be as significant. If you bought your home before the housing bubble burst and currently have a higher rate, you might be able to save a lot of money every month by refinancing at a much lower rate.

Second, the money you spend making extra mortgage payments is money you can’t use for other purposes. If you don’t have an emergency fund, you would probably be better off using the money to start building one instead of paying down your mortgage. This can be a huge help if you lose your job or have some other large financial setback. Sure, you’ll build up more equity in your home, but you’ll have a much more difficult time getting a home equity loan if you don’t have a job or are in some other form of financial distress. Aim to set aside enough money to cover six months of living expenses before you consider paying extra money toward your mortgage.

If you’re not contributing the maximum allowable amount to your 401(k) or other retirement accounts, you are missing out on compound interest. A little extra money invested in an interest-earning account now can add up to far more later than what you would save by paying off your mortgage early. You won’t see any advantages from compound interest by paying your mortgage early.

Also, consider your kids’ college educations. Are you saving enough for them? If not, paying extra money toward your mortgage probably doesn’t make sense. College costs are only going up, so if you save more now, your children will have more options when choosing a school and will graduate with less student loan debt.

Third, any extra money contributed to your mortgage is money you can’t use to pay off higher-interest debts. Credit cards generally have much higher interest rates than mortgages. If you pay the minimums every month, paying them off can take longer than paying off a 30-year mortgage! This is because a minimum credit card payment is mostly interest and very little principal. Any money paid in excess of the minimum payment goes toward principal. Simply put, you shouldn’t pay more money toward your mortgage if you have any outstanding debts with higher interest rates.

Not having a house payment every month can certainly provide a lot of extra money to use for other purposes. Getting to that point, however, is extremely time-consuming even if you make extra payments toward your mortgage every year. If you are well-set in all of the financial situations described in this article, making extra payments is certainly something to consider. If not, however, you will probably be better off using any extra money toward those purposes instead of trying to pay off your house early. For more information, go to www.homeownersinsurance-quotes.org/.

Obtaining A Home Loan After Foreclosure

canstockphoto6435281With the way today’s economy is more people are facing foreclosure on their homes than ever. Once they are on the road to recovery and have financial security many people want to get a home loan after having a foreclosure. Is this possible? Yes it is possible to get a home loan after foreclosure. Many financial advisors and lenders can help people obtain a home loan after foreclosure if they have taken the necessary steps prior to applying for a home loan.

There are many different types of home loans available for every type of consumer. Many lenders and banks have a variety of home loans available according to the financial situations of their consumers. Those that have faced foreclosure need to take certain steps necessary to get their finances in order before applying for a home loan. The first step is to wait for a certain period of time after the foreclosure. The longer you wait the better your chances of getting a home loan for another house. How long you need to wait is best determined by mortgage lenders or banks.

Here are a few steps you can take to ensure you qualify for a home loan after a foreclosure.

Patience Is A Virtue
The worst move you can make is applying for a home loan immediately after a foreclosure>This is the biggest mistake you can make and will definitely get you rejected for a home loan.

Start Rebuilding Your Credit
Start repairing and rebuilding your credit. Your best option is to consult a credit counselor who will advise you on how to rebuild your credit. If you don’t and apply for a home loan banks and lenders will be very hesitant to approve your home loan. While you are waiting for the dust to settle on your foreclosure search for ways to repair and rebuild your credit and consult a credit counselor. You can also sign up for a few secured credit cards with low interest as well.

Pay Your Bills On Time
Show your mortgage lender or bank that you are worthy of a home loan by paying down your existing debt. Pay your bills on time and be consistent. This shows lenders and banks that you are secure financially and it also will improve your credit score.

Get A Copy Of Your Credit Report
You can get a free copy of your credit report once a year. Once you get a copy check for false charges against you. Many times people have erroneous charges on their credit reports that don’t belong to them. and are on their credit report when it belongs to someone else. If you find false charges it’s best to consult a credit counselor who will advise you the best way to remove them. You can also contact each creditor where there is a false report and they will explain to you the steps to take to have false charges removed from your credit report. Once you take these steps Click here to find out more and to apply for your next home loan.