Understanding How Home Equity Works and Why Buying a Home Can Be Your Best Investment

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When delving into the world of real estate and investment property, there are many terms that will come up that require further explanation. Whether you've never heard the phrase 'home equity' before or you have a little familiarity, here are the ins and out of what it means and how this asset can help your financial outlook. All About Home Equity Essentially, home equity refers to your portion of the value of your home, and the amount of this figure is important because it is included among your assets when determining your net worth. If this sounds confusing, think of…
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The ‘Debt to Income’ Ratio and How It Affects Your Home Purchase

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The real estate market is rife with terminology that can make a home purchase seem more than a little complicated. If you're currently looking for a home and are considering your loan options, you may have even heard the term 'Debt to Income' ratio. In the interest of simplifying things, here are some insights on what this term means and how it can impact your home investment. Determining Your 'Debt to Income' Ratio It's important to consider what exactly your DTI ratio is before your home purchase as this will quickly determine how much home you can actually afford. To…
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The Top Ways To Add Storage To A Home

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There are many homeowners who are looking for help with storage. Even after moving in, many homeowners still have a lot of items they need to get rid of and this is where built-in storage solutions can be helpful. Even though some storage options might be pricey, there are inexpensive options available as well. Take a look at a few solutions below, and improve the storage situation.  Use Space Under the Stairs One option that many homeowners overlook is the space under the stairs. If there is a second story, there may be an area under the staircase that looks…
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Exploring Asbestos Prevention And The Top Green Alternatives

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Houses across the country come in all shapes and sizes. Some of them are older than others, so they might come with aspects that are a bit outdated. Unfortunately, there are a lot of locations where older homes might still have asbestos in them. While this should be something that comes up on the inspection, buyers need to be aware of these serious issues. If the home was built before 1980, there is a major chance that the building might have asbestos in it. Fortunately, there are alternatives to this type of insulation. Where Is Asbestos Found In The Home?…
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Keeping A Closet Organized: The Top Tips

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Homeowners need to make sure they maximize every square foot of their home. This includes the closet. Many people get frustrated when they look at their closets because they feel like they cannot find what they are looking for. Anyone who is struggling to keep their closet organizers should take a look at a few important points below. Remove Items That Are No Longer Being Used The first step in creating more space in a closet is getting rid of items that are no longer being used. First, take a look at all the items on the hangers. Then, see…
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Is It Time To Create A Home Office: What To Know

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Office work has changed significantly during the past few years. With many people working well from home, numerous employers are becoming open to the possibility of allowing their employees to work from home permanently. With many people looking for ways to be productive from home, it is critical to create an environment that is conducive to being productive. How can homeowners make this happen? Make Small Changes First It is difficult to make major changes in a small home or condo; however, there are still small changes that can be made. For example, many people use a drop-down shelf or…
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A Home Inspection: What To Expect

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The process of buying a home can be exciting and stressful, with one important task being the home inspection. All real estate professionals will likely recommend a home inspection. This is usually a condition of making an offer on a home. While not all prospective buyers will ask the seller to make repairs based on the inspection report, it is important for buyers to know what they might have to do to repair the home. When an offer is made with a contingency, this allows the buyer to renegotiate the price of the home based on the inspection report. Some…
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The Top Tips for Saving Money On Energy Bills

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There are many homeowners who are looking for ways to reduce their monthly expenses. One way to do that is to target energy bills and expenditures. Homeowners might be able to make a few changes and upgrades to their homes, which could reduce utility bills and improve energy efficiency. What are a few ways to do exactly that? Consider Making The Switch To LED Lights One of the first changes homeowners might want to make is to switch to LED lights. LED lights are newer lights that can last many times longer than traditional lightbulbs. It is not unusual for…
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What Are The Top Ways To Win A Bidding War?

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Right now, there are not a lot of houses for sale, as inventory and new home construction continue to lag behind buyer demand. In addition, low mortgage rates are accelerating demand, meaning that in many situations the sellers are receiving multiple offers. Therefore, it is important for potential buyers to do everything they can to win a bidding war. What are a few ways buyers can give themselves an advantage? Get Pre-Approved For A Home Loan The first thing interested buyers need to do is to get pre-approved for a home loan. Because many sellers have options, they might be…
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3 Things You Must Do after Inheriting a Home

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There can be a lot of excitement when it comes to the realization that you've inherited a home, but simply because it's an inheritance doesn't mean there aren't a few strings attached. Whether you're expecting to be gifted with a home in the future or you're currently going through this process, here are a few things you may need to watch out for. The State Of The Mortgage Once a home has been effectively handed over to you, it's important to determine the status of the mortgage with the lender and if anything is still owed. While you have the…
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