Category Archives: Investing

How to Buy a House/Apartment you want to live in

Buying a house is probably one of the biggest decisions in your life. After all, one of the necessities of survival is to actually have a location to live. Of course, you don’t just want to survive, you want to live, you want to enjoy where you live and have it be convenient to you. So, how do you find a place to sleep and be content with it? Here are a few tips:

“Buying is house is a decision you have to live with.” (click to tweet).

DGJ_7785 - Home Sweet Home

Know What You Want 

Remember, every single problem needs to be taken into account when buying a home or an apartment. One of the most important things to look for (in apartments, especially) is overall sanitation. Is the place a dump? If so, it is probably not a good idea to live there unless you have the skills to fix it. Even if the apartment itself is tidy, remember, it’s still part of the building. If the building is stuffed to the brim with garbage and other unsanitary elements, do not go for it. Always inspect the basement of the building when making a decision. Another thing to look for is size: a large family, a couple, a guy who plays video games for a living, and everyone in between is going to need different amounts of living space. A single person shouldn’t get a huge apartment taking into account costs for cleaning, rent, and utilities for the big place (unless the person is rich, which in that case, good for him/her). There are many, many other things to take into account, but in the end, remember: know what you want. Because if you don’t, chances are you won’t find what you’re looking for.

Go Back to School

Figuratively. Why did you even go to school? What was the point? You probably might not know, but one of the most useful things school and the demonic practice of going to class probably taught you was asking the right questions. That’s right. If you should remember one aspect of the classroom, it should be asking questions to the teacher. This is similar to buying a home/apartment, except there are no tests (no difficult ones, at least), no detention, and no lectures. It’s just homework, and asking questions on the homework. Ask as many questions as possible: are the utilities working okay? Is the garage equipped with lighting? Have pets been in this apartment? Etc., etc. Do your homework, too. Research how old the house or apartment building is, the past owners, anything that might be useful in finding out if your crib is going to be the perfect living environment for you. Deciding these things can be very difficult, but with the right amount of work put into researching and learning about your future home/apartment, you will get there.

Location, Location, Location

You’ve heard the old adage:

“In establishing the value of a house, what are the three most important factors?”

“Location, location, location.”

Why is it so famous? Because it is true, of course. The one most important, most paramount aspect when buying a property is its location. This is because location is the factor for so many other things that should be taken into account when buying your dream house or apartment. If you have kids, where would your kids go to school? Is there a grocery store nearby? If you have a pet, can I take care of my pet where I live? Is there a library nearby? What kind of neighborhood will I live in? All of these questions branch from the location of your property. Because of this, location should always be on your mind when buying the living space you have always wanted.

What other factors do you consider before going for a house? Already made your big purchase? Did you miss out checking on something? Share with us in the comments section.

Meaningful Guidelines to Manage Your Finances

In “25 Useful Financial Rules of Thumb,” J.D. Roth reviews different rules of thumb or guidelines people can use to manage their finances.  The first guideline Roth discusses is saving, or paying oneself first by putting 20 percent of a person’s income in a savings account.  Roth also discusses investing in the stock market and how doing so differs from how investing used to be in terms of allocating money and expected returns.  Roth also discusses guidelines relating to the costs of home ownership, financing a car, and saving for retirement, among many others.  Roth cites many resources a person can refer to throughout his piece including Bob Clyatt’s book, “Work Less, Live More,” CNN Money, Consumer Reports, Kiplinger’s, and Farimark.com.

 

Posted at Get Rich Slowly

Got A Financial Windfall? Learn How to Prioritize Your Financial Goals

Receiving a large sum of money is a great thing, but what do you do next? Do you take the dream vacation you always wanted to or pay down your debt? May be you want to invest for kids college education or save for your retirement. Ryan from Cash Money Life suggests that you first have to check if your financial situation is in place, things like emergency funds, debts if any are settled, any big immediate expenses to be met. He suggests breaking your goals in to short-term, medium term and long-term and split your allocation to these. This might also be the right time to get in touch with a professional financial advisor.

Posted at Cash Money Life