Category Archives: Real Estate

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.

Set a Home Buying Budget in Ten Steps

In this article, the author delineates ten steps people should follow when developing a budget for a future purchase of a new home, and explains examples of the math, including certain ratios, involved with a home purchase.  The author recommends that a person identify a conservative, affordable amount he or she would like to spend on a home, create a wish list of the features he or she would like a new home to have, and to prioritize that list.  Figuring out how much a person can afford to put down as a down payment and doing some calculations to ensure a home is affordable are the next steps.  The author further recommends that prospective homeowners get prequalified for a mortgage, solicit input from friends and family members regarding their impending purchase, and research homes in the area they want to live in that are similar to the home they want to buy.  Finally, the author suggests people must be willing to compromise about some of the items on their wish lists and should work with experienced, reputable real estate professionals.

 

Posted at The Digerati Life

Make Money From Your House Using Innovative Ways

In the article, “Your House Can Make You Money,” Thursday Bram offers suggestions about how a person can use a home to make money that don’t involve selling the property.  Specifically, Bram suggests that an individual can rent a sleeping space such as a room or couch to travelers, storage space in a garage, storage shed or driveway, a desk in a home office that has an internet connection, a place for someone to park a car or boat such as a driveway, or his entire home for use by a film production crew.  Bram also describes growing produce for either sale or consumption by the homeowner, selling used items on Ebay or other websites, leveraging the house’s equity, setting up a donation-based webcam, and establishing a home-based business as viable ways to use a home to make money.

Posted at The Dollar Strecher

You Might Want to Rent for a Bit Longer

Budgets Are Sexy discusses the often neglected costs of home ownership.  It details the situation of one person who is facing an estimated $30,000 – $40,000 worth of expenses to repair his home in ways he never even considered.  None of these expenses relate to cosmetic issues, either, only practical ones for things like roof repair, water heaters, and a pool liner.  The author strongly recommends that people only purchase a property they can afford to maintain comfortably and cautions them to remember that the costs associated with home ownerships are non-stop.

Posted at Budgets Are Sexy