budget
Buy, Close, Move IN!: Budgeting For Investment Property Costs
The following is an edited excerpt from my new book, Buy, Close, Move In!, which was published this month by HarperCollins. Investment Property Costs: Add these real estate expenses to your investment property budget. The costs of buying and owning investment real estate are similar to those of buying and owning a primary residence, but you want to estimate some special investment property costs into your budget to make your investment property more profitable.
RightSizing Your Finances in 2010
During the 1990s and 2000s, people worked on the assumption that bigger was better. But was it? Now people have to deal with the consequences of their spending habits and borrowing demands. Now the advice needs to be on RightSizing Your Finances. That is looking at your budget, your finances, your home, and your family and deciding what is right for you. You may need to cut back on expenses, luxuries, and discretionary spending but figure out what is important to you.
Top Three Financial New Year’s Resolutions
Make a New Year’s Resolution to clean up your personal finances. Stick to a budget, live within your means, and put away savings every month. Below are the top three financial new year’s resolutions. Make 2010 the year to stick to your financial new year’s resolutions.
Lowering Your Monthly Mortgage Payment By Refinancing
Lowering your monthly mortgage payment by refinancing should be one of your goals if you decide to refinance. But that is only one of three issues that you should consider once you decide to refinance. Falling home values have caused many homeowners to be unable to refinance and lower their monthly mortgage payments. But the Obama administration’s newly enacted change to the Making Home Affordable program that will allow homeowners greater ability to refinance their homes even if the value of their mortgage is up to 125 percent higher than the value of their home, more people may benefit from the program.
Prepaying Mortgages With Low Interest Rates
Interest rates are at record lows. Does it make sense to prepay your mortgage when you have a really low interest rate? What’s the best way to prepay a mortgage loan with a low interest rate? How can you ensure that the mortgage lender knows when you are sending in prepayments to your mortgage loan? It’s up to you to track your mortgage loan prepayments and it’s easiest if you prepay the same amount every month.
Home Values Decline, But Buyers Struggle To Afford Home Buying
With grocery stores advertising good deals, it’s just one sign of retailers helping consumers. A recent study released by the Center for Housing Policy compared housing affordability against how much people earn. The study found that while the home prices have declined, many people still cannot afford to buy on their incomes. And in contrast to other states, Florida has become less affordable.
What Needs To Be Included In A Contractor’s Bid?
Before starting any sort of major home renovation or remodeling project, you will want to get bids from contractors and compare price estimates. A bid from a contractor should not be a single number estimate. You will want to see a detailed, multi-page report with a line item for everything that will go into your home remodeling project. With a detailed line item report, you will be able to better estimate your costs and plan for changes later in the renovation project. Watch this Expert Real Estate Tips Video for more help with how to prepare for a home remodeling project.
First Time Home Buyers Benefit In This Housing Market
Now may be one of the best times to be a first time home buyer. First time home buyers can benefit from the $8,000 tax credit toward buying a home but should watch out that they don’t buy more home than they need. First time home buyers should research properties in a neighborhood where they can see themselves living for the next seven to ten years. In addition, when you’re a first time home buyer it helps to get pre-approval for a mortgage loan.
Annual Transportation Expenses Add Up
The beginning of March means springtime showers, basketball betting pools, and “Transportation Freedom Days” across the country.
March 5 ma…
How Much Will Your Home Renovation Cost?
Are you realistic about the cost of your home renovation? When you’re going through a “gut renovation,” the costs can quickly add up. The final price can vary drastically depending on if you want high-end finishes, and if you change your plans during the renovation process. How much should a renovation cost? Watch this Expert Real Estate Tips video for help on calculating how much your home renovation may cost.
