3 Closing Costs That Most Buyers Forget to Factor in and What You Can Expect to Pay

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If you're in the process of buying a home, you probably have your deposit and monthly mortgage charges in a spreadsheet, along with a chart of your other expenses and your monthly income. But when it comes to buying a home, there are lots of different costs that will come into play - and it's easy to forget something. When you're preparing to close on your new home, make sure you consider these three closing costs that most buyers forget. Home Inspection Fees: A Small Charge For Peace Of Mind Most home purchase agreements are contingent upon a successful home…
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3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

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Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment, but the closing costs as well. The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased. With a closer look at why this is, home buyers can…
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How to Determine How Big of a Down Payment You Need

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Whether or not you're new to real estate, there's little doubt that you've heard the term down payment as it relates to purchasing a home. There's a lot of different information out there in regards to how much this figure should be and it can be hard to determine exactly what the importance of this payment is. If you're trying to determine the ideal amount to put down, here are some things to consider. Explaining Down Payments And Why They're Important The down payment is probably one of the largest single payments you'll make for anything, and this is why…
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Advice For Purchasing A House On A Single Income

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Even though a lot of people have two incomes they can use to purchase a house (theirs and their partner’s), this is not necessarily required. There are lots of people who want to take advantage of current interest rates to purchase a house, and some people are trying to do it on their own. Even though it can be a challenge to buy a house with only one income, it is certainly not impossible. There are several tips that can make it easier for everyone to afford a house with just a single income.  Always Check Your Credit Score If…
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3 Reasons You Might Decide to Retire to a Tiny Home – and Why You’ll Love It!

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Many people romanticize the idea of paying off their home mortgage early so they can enjoy their home in retirement, but when it comes to the later years of life, a big house can actually be too much to handle. If you've started to consider a smaller home and are wondering why it might be a good decision for you and yours, here are a few things you may want to consider. It's Much Easier To Maintain It is often the idea of the palatial estate with a pool that homeowners get excited about, but when it comes to reality,…
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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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3 ‘Must Know’ Pieces of Advice for First-time Home Buyers

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When delving into the realities of home ownership, there can be many factors involved that make it difficult to determine what you need to know and what can wait until later. If you happen to be a first-time buyer who's looking for the best tips for purchasing a home, look no further than the following three pointers to set you on the right path. Get Familiar With Your Credit Score If you haven't looked at your credit report for a long time, it can be a daunting task to request this information. Fortunately, your credit report is free from AnnualCreditReport.com…
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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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Thinking About Downsizing? Here’s What You Need to Know About Life in a Condo

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The shift from home living to condo life may seem like a minor one, but there are plenty of things that will differentiate your lifestyle other than size when it comes to making a condominium purchase. If you're contemplating this move and wondering about some of the things that this might entail, here are a few factors that are worth considering. The Fees You'll Have to Pay While a smaller condo is unlikely to have the same associated costs as a large home, you will be paying a monthly condominium fee that will be covering maintenance and insurance so that…
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Family Matters: How to Choose the Perfect Home for a Large or Growing Family

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Selecting the right home to purchase for a family is a monumental task, and this process can seem even more challenging for those with a large or growing family. A common goal may be to give everyone ample space to stretch out and feel relaxed, but some home buyers may also be focused on other factors like location, cost and even the general style of the home. While choosing the perfect home for a large or growing family is not easy, the process can be simplified by focusing on a few points. Focus On Storage Space There are few things…
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