For some potential homeowners, renting a home for a time before buying is an attractive option. It allows time to save money or otherwise get financially prepared before buying a home, and it also offers a way to get to know the property before committing to it. Regardless of your situation, a rent-to-own model could [...]
Following the housing bubble burst in 2007, when home values fell by 60 percent or more in some areas, approximately 23 percent of homeowners owed more on their mortgages than their houses were worth by the end of the third quarter of 2009. The lack of equity froze these homeowners in place for years, leaving [...]
Being a first-time homebuyer also means being a first-time buyer of homeowner’s insurance. Just like every other part of the home-buying process, this decision requires research, comparison shopping, and careful consideration. Your homeowner’s insurance provides broad coverage for damage to your house (unless specifically excluded in your policy), as well as coverage for personal liability [...]
Getting turned down for a mortgage can be disappointing and leave a person wondering what to do next. And while it may feel like an isolated, personal experience, it’s actually more common than you might think. According to the Federal Reserve, in 2013, approximately 14.5 percent of applications for home mortgages were denied, down from [...]
Homeownership might feel out of reach, but you may be interested to learn that you can still find properties for around $100,000 across the country. Nationally, home prices have risen 4.9 percent year-over-year, according to the latest S&P/Case-Shiller Home Price Index. While home values are predicted to continue to rise in the months ahead—albeit more [...]
Millions of American Millennials are dealing with significant student loan debt, but they are also eager to buy homes and start their adult lives. According to the Project on Student Loan Debt, about seven in 10 college seniors who graduated from public and private nonprofit colleges in 2015 had student loan debt, averaging $30,100. In [...]
Your builder may promise a 10-feet-deep swimming pool and a community playground but if you don’t get that promise in writing, don’t be shocked when it doesn’t materialize. Buying from a builder may be one way to get your dream home but even the savviest homebuyer needs to be cautious, especially if you’re buying without [...]
Buyers and real estate agents alike have discovered that fall can be a great time for buying a home. Sellers are more willing to negotiate, and the combination of eager sellers and bargain-hungry buyers has created a home buying season that rivals the active spring season. This year’s fall season is shaping up to be [...]
Q: My husband and I are on the hunt for a new home, and we’d like to buy an older house—not a fixer-upper, but something with a little charm. What should we look for when we’re visiting the homes, and what are some issues we might face that are different from buying a new home? [...]
