Tips for Finding the Right Home out of College
By Lauren Tessin
You’re finally out of college and you want a place of your own. Single women like you would find the following tips useful especially if you’re looking for the perfect home:
1. Find a home that is accessible to your work location. If you live near your place of work, you can save on transportation expenses such as fuel costs. In fact, you can just even walk to your office instead of driving your car. This will enable you to save more money. Try to consider your home’s accessibility to essential establishments such as grocery stores and shops as well as hospitals and police stations in case of emergency.
2. Find a home that is less expensive. Since you’re just starting out with your career, try to find a home that would fit your budget. The suburbs or country locations are generally less expensive compared to urban areas. However, if you don’t want to compromise travel time, you can find a location which is more accessible. There are also high traffic areas in cities which cost cheaper. Unless the noise on a busy street doesn’t bother you, you may want to take that option.
3. Privacy. If privacy is not a big issue for you, you can try out a condo unit, townhouse or apartment. These types of residential areas are cheaper compared to single detached homes. However, just be prepared for neighboring noises since you only have walls separating you from other people. However, if you want to keep your privacy, you can purchase a single story house, which is just ideal for a single woman like you.
4. Look for a house which is easy to maintain. For single women like you, it will be more advantageous if you live in a smaller house. This way, you will be able to maintain cleanliness and run things smoothly. A house which is too big for you entails a lot of effort and a lot of money to maintain. So unless you have no budget for regular maintenance and housekeeping just stick to a house which is just the right size. A house with two bedrooms is just enough.
5. Buy a house which offers maximum security. Considering that you’re alone most of the time, look for a house that is located in a secure area. Make sure that your house is equipped with a functional security system. Inspect the door locks well to make sure that you will be safe. Also make sure that the house is well lighted. A gated community is better compared to homes in an alley.
6. Check out the location’s crime rate and neighboring structures. Before deciding to buy your house, try to check whether the area is safe by checking the crime rate and neighboring structures.
Keep in mind that safety, accessibility, convenience, and cost are just some of the factors you need to consider when looking for a home. Enjoy house hunting!
FindCollegeCards.com, is a place for college students to find their first credit card, as well as find helpful college tips through a blog.
Home Buying Tips
Remember the adage that a man’s (or a woman’s) home is their castle? In order to find the best suited castle for you, you need to remember a few tips in purchasing a home for you. While the process may differ, be your purchase is in your own neighborhood or a home half way around the world, there are some basics that never change regardless of territory and it would serve you in good stead to keep them in mind once you decide on purchasing your home where you can put up your feet and rest your weary body at the end of the day.
Having an agent.
This may seem to be not a good piece of advice as agents would certainly add on to the purchase price of your home. This cost though would be well worth it as you save on time in looking at homes that fit your requirements. Also, having an agent would help you find those listings that have not become public, making your search much more efficient in terms of time and gas. Also, their expertise would prove invaluable as to the hidden costs and other repairs that need to be done on the home you eventually choose to become your castle.
Do your research.
Doing your research is not just going online but also doing the legwork at the home you seek on buying. Also, you need to spend time on the paperwork, which you need to prepare for by learning it before the actual sale commences. In doing this, you are able to find the best and most cost effective way of finding your home that is within your budget and your requirements.
Fixing your Loan.
Not everyone has the ready cash to make an outright purchase of a home. Thus before purchasing a home, it would be best to have a loan approved for the purpose. Also, in getting a loan, you would have a limit as to the home price you can purchase, thus giving you a ceiling and not overburden your financial plans in the long run. Having a loan also would help you in making the right purchase since you need to fit the home into your financial resources.
Negotiating the Price.
The common error that many purchasers do is comparing listed prices between homes for sale. The secret here is not on the listed price but in the ability to negotiate the purchase price. Thus it would be better to find out the comparable sale prices for homes similar to your prospective purchase. Also, you can negotiate the price with the owner based on the current condition of the house, the payment scheme and overall goodwill and rapport you can build in order to lower the overall purchase to your advantage as the buyer.
Do a complete inspection.
Don’t just look at the overall look of the house. You need to get into the nooks and crannies of the property you would eventually call your home. Once you agree on the purchase, you cannot go back to the seller to have things repaired at their cost. Thus it is best to do a complete check up of the home before your purchase and have the owner repair what you find before eventually assuming ownership of the property.
The aforementioned are some of the fail-safe tips that home purchasers should do before parting with their money on their future home. In doing these steps, the buyer can be rest assured that their future castle would be well worth the price they have paid for the future.
For more information on home purchases, do visit us at http://www.propertycommunity.com/property-in-the-uk/ditching-the-high-street-agent-saves-property-sellers-thousands-in-fees.html or join the discussions at www.propertycommunity.com.
How to Buy A House: Avoid These Common Mistakes!
By Andrew Black
Finding and buying a new home can be an overwhelming experience. It can be both exciting and stressful at the same time as there are just too many ‘hot’ properties up for sale in the market. Homebuyers, especially the first timers, usually find it confusing and challenging to come up with the best home purchase. With so many homes up for sale, it can be hard to find and buy the best.
Logically, any homebuyer needs to conduct actual and ample research before finally getting into any purchase deal. Experts advise buyers to learn from the mistakes committed by others instead of learning from their own home purchasing blunders. First-time buyers would find it particularly beneficial to do so. There are several usual mistakes committed by homebuyers. It would be ideal if you would strive not to commit the same errors to make sure your purchase is the right one.
Buying Based on First Impressions
Many homebuyers usually commit the mistake of buying a property based on first impressions. In general, buyers are tempted to choose and buy homes that look fabulous. Homes that initially look messy and not properly painted are usually disliked although most of them are of best conditions and are exhibiting ideal interior and structural designs. Likewise, homes that are not well designed and are close to condemnation are preferred because buyers like the new wall paint and other aesthetic features.
The best way to overcome this mistake is to conduct a proper and thorough home inspection before you buy. Many first-time homebuyers fail to do this. It is advisable to hire an inspection professional or employ the services of a home inspection company. Ask for guidance before making the purchase. A good home inspection report should provide you with a comprehensive list of pros and cons of buying the property. Take note of potential setbacks identified that would possibly make you lose your money in futility.
Some buyers also fail to first check out the neighborhood before entering purchase deals. Some homes may appeal to the first impression of prospective buyers although they are located in an area where there is no reliable and sound infrastructure and where amenities are poor. Instead of being influenced by initial impressions, look at a different perspective. Would the home be too far from major establishments and institutions like schools, groceries, churches, or parks? Would it take too long to travel from the house to your work?
Lack of Enough Knowledge About Negotiations
A number of homebuyers believe that the best way to enter a fair price negotiation is to offer low. In reality, such a strategy would just hamper flexibility, possibly polarising the purchase discussions. If you are not very adept and knowledgeable about buying properties, be honest to yourself and employ the expertise and services of experienced realtors. Such professionals have mastered the art and science of winning negotiations.
Another common mistake when buying a home is making an offer based on an asking price instead of a market value. In general, home sellers usually conduct a comparative market analysis before imposing and assigning price tags to any property for sale. It would be best if you would get hold of a similar analysis. You have to first understand the logical prices in the area before making an offer. This could be your best defense against possibly buying a home above normal or market prices. Of course, no seller would dispose a property at below market valuation.
Before making an offer, you as a homebuyer should also know and understand your basic rights as well as obligations in making an offer. Many buyers commit the mistake of overlooking this aspect. Your understanding of the purchase offer and the proposed contract would certainly spare you from getting into friction with other parties involved. Thoroughly check all contract clauses and assumptions as such factors could potentially lead to improperly increased costs. Beware of clauses that could lead to a void contract. In this regard, hiring a professional realtor could still be advantageous. A lawyer’s advice should also be sought.
Andrew is a contributing author in various real estate blogs. Andrew has been working in the finance industry for several years as a refinance specialist and has advised many home buyers on the best solution for their home loans
Tips on Getting the Best Mortgages
By Nicole Rodgers
Shopping around for a mortgage is not as difficult as it may seem. Although there is a lot of paperwork involved, comparing offers and searching for a good deal is worth your effort. Before going for a mortgage loan you should understand how things work and then try to get lower interest rates. Here are some tips on getting the best mortgage:
Improve Your Credit Rating
Before you start shopping for a home loan or mortgage, check your credit record. Paying down your financial obligations and getting rid of debt is a good start. Individuals with a poor credit record have a difficult time finding competitive deals. It is highly recommended that you improve your credit score before applying for a mortgage. Credit scores over 620 are usually approved.
Shop Around and Compare Costs
Although you might be tempted to go to a local bank because you have a checking account there, it is advisable that you first research your options to make an informed decision. Contact a broker, use the Internet to get loan quotes and search for information in your local newspaper. Each bank, loan association or mortgage company has its own interest rates, so be sure to evaluate a number of offers from different providers.
Make a Large Initial Deposit
The size of your deposit is very important when it comes to getting a mortgage. The best rates out there are available only to those with a large deposit. The larger the deposit you have, the more money you will save. The good news is that there are a couple of things you can do in order to build up your deposit. Getting an unsecured loan is a viable option. You may also ask your family or friends for help, reduce daily expenses or use your other savings.
Decide on the Right Mortgage
If you decide to apply for a mortgage, be sure to do proper research. Potential homeowners can choose from various types of loans. Some of them prefer a 30-year mortgage, while others opt for fifteen-year fixed rate loans. Evaluate your budget and decide how much you can afford paying every month. Remember to ask each lender and broker about the loan’s annual percentage rate (APR). The APR includes broker fees and points, as well as the interest rate that applies to the loan.
Act Fast
Once you find an offer that suits your needs, act quickly to secure the mortgage. Although you need to do research and evaluate your options, it is important that you act quickly to avoid disappointment and get the best deal out there. You may hire a broker and ask for expert help. A good broker can move quickly to secure funds for you.
Applying for a mortgage loan requires your full attention. Be sure to get all the information you need from several lenders or brokers. Ask about the lender’s requirements for a down payment and try to find out what each fee includes. Make lenders compete with one another for you. Examine your credit report and make sure you don’t borrow more money than you need. Don’t hesitate to contact a broker; he can help find a loan that best suits your needs. Get loan quotes from multiple sources and check the reputation of the brokers and lenders you interested in working with.
Nicole Rodgers has been in the mortgage industry for 4 years; she currently contributes to blogs dealing with ways for people to refinance a home loan and how online trading can help families earn extra income.
Choose Your Home: Top Ten Things To Consider When Buying
By Greg Andruff
10. How long do you think you will live there (people move on average every 4-7 years)? Or, if you are an investor, when do you hope to cash out if ever? What is your exit strategy?
9. Location –- Is your purchase close to shopping, traffic, airport? What area/neighbourhood is the property in? Is it close to schools and parks or close to downtown?
8. Is the property restricted by certain rules? Be aware that in a strata or a heritage home, certain rules and restrictions can possibly hamper resale.
7. Market conditions — You don’t buy the market but you want to know what conditions you are working in. (Is it a buyers, sellers or balanced market? Are you in a seasonal market?)
6. Is the property close to transit? Bridges? What about paying tolls?
5. What is the property condition inside and out? An inspector is cheap insurance. Typically, older buildings will require more work, so be aware of that. There may be a chance for sweat equity…
4. Think about resale: Is the property easy to get into but hard to get out of?! What is the type of ownership — strata, freehold, or co-op? Co-ops tend to trade at a lower price because they require 35% financing up front. This may or may not be an advantage to a buyer.
3. Neighbours — Talk to the neighbours before you buy. What is the neighbourhood like? Are there mostly older people, families, or professionals? Keep this in mind, especially in a strata where you live right on the other side of the wall from your neighbours! Does your neighbour have a dog that howls at the moon?
2. Think about the future. Is there a possible transit connection (bridge or train) being built soon? Is there a development going in around the corner, or a half-way house, old folks home, or super complex and how does that relate to you?
1. Mortgage qualification – Most importantly, you need to know your budget. What type of mortgage do you want or need? Best rates are not everything: flexibility or readvanceable principle may be more valuable! Be sure to talk to a professional mortgage broker about your options.
Greg Andruff is a member of a successful Vancouver residential real estate team, Team Andruff.
They strongly believe in helping educate and inform their client to make confident buying and selling decisions in any market. To contact Greg visit www.GregAndruff.com or call 778-899-4267*
Canadian Housing Market Outlook: CMHC Report
The Canada Mortgage and Housing Corporation has released a report for the first quarter of 2011. The headline of the report reads:
Canada’s Housing Market Is Stabilizing
This will come as great news for many home owners and Real Estate professionals. However, what does it mean to you if you are thinking about buying a home this year? Here are some of the highlights from the report. To read the full report click on the link at the bottom of the post.
Housing starts: Over the course of 2010, housing starts moderated from their strong pace at the beginning of the year ending up at 189,930 units started. Looking ahead, housing starts will be in line with demographic fundamentals. Housing starts are forecast to be 177,600 units for 2011 and 183,800 units for 2012.
Resales: Sales of existing homes through the Multiple Listing Service® (MLS®)2 have regained traction in the fourth quarter of 2010. MLS® sales will experience a minor decline in 2011 before increasing in 2012. Overall, 441,500 sales are expected in
2011, followed by 462,900 in 2012.
Resale prices: The average MLS® price edged higher in the fourth quarter of 2010 and is expected to grow modestly moving forward as market conditions will remain balanced. For 2011, the average MLS® price is forecast to be $348,900 while 2012 will see a further increase to $358,200.
Provincial Spotlight
Alberta and B.C.: Housing starts will moderate in all areas of Canada except British Columbia and Alberta. In 2011, starts are forecast to increase by 1.6 per cent in B.C. and will remain steady in Alberta.
Ontario: A recovering economy and improving employment situation will push Ontario starts up, but not until 2012. As is the case for most other provinces, new home construction growth is expected to slow in 2011.
National Housing Outlook
In Detail
After a strong start in 2010, housing starts moderated in the second half of the year. Housing starts are expected to edge lower in the first quarter of 2011 after which they will trend gradually higher, reaching a seasonally adjusted annual rate of 178,990 units by the fourth quarter. Given the degree of economic uncertainty, we have considered an array of economic scenarios to generate a range for the housing outlook in 2011 and 2012. Accordingly, we expect starts to be between 157,300 and 192,900 units in 2011 and between 154,600 and 211,200 units in 2012. CMHC’s point forecast for housing starts is for a decrease from 189,930 units in 2010 to 177,600 in 2011 then increasing to 183,800 in 2012
Housing starts are forecast to be down in all areas of Canada, except for Alberta and British Columbia in 2011. In 2012, housing starts are forecast to increase in British Columbia, Alberta, and Ontario, and to decrease in the remaining provinces.
Measures recently announced for government-backed mortgage insurance will moderate housing starts activity. Some potential buyers will have to save a larger minimum down payment in order to qualify for mortgage insurance and thus postpone their purchase. Alternatively, some potential buyers may buy smaller, less expensive homes. The new measures, however, are only a few of the many factors that will affect the new housing market.
To read the full report, click here.
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