More »

More »

More »

More »

More »

 

What Is The Real COST Of Buying A Home?

May 27, 2020   Buying House, Property Marketing, Selling House

Since, owning a home, of one’s own, is, often considered an essential component of the American Dream, and, for most people, the financial value of their house, represents, their single – largest, financial/ economic asset, wouldn’t it make, far more sense, if serious, potential homeowners, proceeded, with their eyes – wide – open, and began, their process, as well – prepared, as possible? Although, most people, realize, preserving/ protecting their credit, accumulating the necessary funds, for all the down – payment, and other closing – costs, are needed, they often, overlook the real COST of buying a home! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why it is an important, relevant consideration.

1. Credit; closing; choice; create; coordinate: Before one begins the search, he should carefully examine, and review, his Credit Report, correcting any errors, and addressing areas of weakness! You can, either do this, yourself, or hire a consultant, but, don’t proceed, until, you’ve done this! Not only is securing a mortgage, a necessary aspect of the buying process, and one needs, the credit, to secure this loan, often, the difference between obtaining the lowest rates, and, higher ones, depends on the overall rating! Examine your choice of a house, and why, it will serve your needs and requirements! If you create a positive, mindset, you will prepare to effectively, coordinate your efforts, towards a far more, stress – free, closing!

2. Options; open – mind; opportunities: Buying a house, is a meaningful, relevant process, and it is wise, to carefully consider the options, including the specific choice, the potential opportunities, etc, and proceeding with a well – considered, open – mind, in order to better understand all related costs, expenses, etc.

3. Systems; serving; solutions; strengths: Before committing to a specific property, hire a professional engineer, and/ or, home inspector, to provide, a thorough, review of the overall condition, including strengths, and weaknesses! Differentiate between major and minor issues, and understand, whether the so – called, bones of the house, are strong, etc! Only buy some place, which effectively, serves, your needs, both, present, and, into the foreseeable future, and consider, whether the particular house, provides relevant, sustainable solutions, to your needs, and priorities!

4. Trends; taxes; time – tested; timely: Recognize relevant trends, both, in terms of the particular property, as well as financing options, and proceed wisely! Use the time – tested ways, to evaluate, including, a financial review, of all the related, real estate taxes/ fees, etc, as well as potential, unforeseen expenses, etc. Once you’ve made a wise decision, proceed in a well – considered, timely manner, and be prepared!

Don’t ignore the true COST of home ownership! Will you be a wise buyer?

Read More

8 Essential Considerations Before Buying A Specific House

May 22, 2020   Buying House, Property Marketing, Selling House

Since, for most Americans, their home, represents, their single – biggest, financial asset, wouldn’t it make sense, for these individuals, especially, first – time, homeowners, to proceed, in the finest, well – considered, manner, in order, to find, what they need, can afford, meets their objectives, etc. With that in mind, this article will attempt to briefly consider, review, examine and discuss, 8 essential considerations, which should be thought about, and pondered, before purchasing their new home.

1. Property required: Fully consider, the overall size of the property, you need, and require! Remember, the larger the property, the more expensive and involved, it will be, to maintain, etc! It’s not merely the size of the property, but, also the usability, of it, which means, is it a cleared lot, as well as whether it is level, and will meet your personal needs, and requirements. Are you ready to perform, all the necessary maintenance, and up – keep, or can you afford, to pay someone else, to do it for you?

2. Overall size of the house: What size house do you need? How big, is too large, and how little, might be, too small? Is there any correlation between what you aspire for, versus, what you can actually afford, and really, need? It’s important for potential homeowners, to arrive at the ideal balance, for their particular situation!

3. What can you afford? Don’t make the mistake of becoming house – rich, and otherwise, poor! Consider your present and future earnings, what you can afford and qualify for, up – front, as well as on a regular, monthly basis! Are you prepared for contingencies, in order to achieve happiness, from living there?

4. Comfort level: Consider your personal comfort zone, and what that level, means and represents, to you! What do you seek, and will it meet the combination of your physical and emotional needs, and requirements?

5. Bedrooms needed: How many bedrooms, do you presently require? What do you believe, your future needs and requirements, might be? Do you anticipate having overnight guests, and thus, need extra space, for those requirements? A house will not serve you, if it doesn’t meet your needs!

6. Kitchen: Consider the size, shape, design, potential, cabinets, and appliances, as well as what you can afford, versus your needs. For most, they spend much of their time, in, and around, their kitchen!

7. Living areas: Look at the house’s flow, and whether the living areas (actual, as they exist, as well as its potential), meet your present, as well as perceived, future needs. The living and socializing areas of your house, often make a huge difference, in whether you are truly satisfied, living there!

8. Bathrooms: How many bathrooms, do you need, and how many, might you like? Describe them, in your head, and consider, the possibilities and potential, as well as costs.

Before one buys a home, of his own, it is important to evaluate and consider, whether living there, will meet, and exceed their needs, and expectations. When buyers take the time to do so, they generally are happier with their decision and selection!

Read More

5 Tips for Buying a House

May 17, 2020   Buying House, Property Marketing, Selling House

Buying a home can be nerve wrecking and thrilling at the same time. This is especially for a first time home buyer. It is also difficult to know what exactly one should expect. The learning curve is obviously steep but the issues can be resolved by simply doing some homework on it. Some important tips have been explained as below.

1. Evaluate your credit

Your credit score is extremely important because it can be helpful for you to qualify for the loan. The standards are also higher in terms of what score you actually require and how exactly the cost of the loan is going to affect you.

2. Evaluate your liabilities and assets

This should be done so that you don’t owe a lot of money and all your payments are processed up to date. However the exact manner in which you spend your money must be taken into consideration. Any first time homebuyer should have a very good idea of what is owed and what is exactly coming in. Understanding a little bit about the monthly cash flows can also help you.

3. Organize all your documents

While you are applying for a mortgage, you must document all your taxes and incomes. Buying a home can take a long period of time but exactly knowing what you require and where you have to find it can help you to save time whenever you are ready.

4. Qualify yourself

As any first time homebuyer, you should know how much you can exactly afford to spend before any mortgage lender tells you how much you can qualify for. There is however no ratio of fixed debt to income that the lenders might require, but the old standard can dictate that not more than 28 per cent of the gross income will be devoted to housing costs.

5. Your down payment must be figured out

It takes a lot of effort to scrape together your down payment. There are also a variety of programs that can assist the buyers with qualifying situations and incomes. You can also speak with all the mortgage lenders when you are beginning the process. Check with all co-workers, friends and neighbors to find out the lenders they have enjoy being associated with. Take their advice to how to go about with it as it can help you to simplify the process. It is one of the important things to remember.

Read More

How to Buy a House With Cash

May 12, 2020   Buying House, Property Marketing, Selling House

Owning a home is something almost everybody wants do at some point in their life. Nothing can compare to knowing that the home you live in is yours, and you can do what you want with it. No paying rent, no answering to a landlord, none of that…

While it is pretty great to own a home, many people take a hasty decision by taking out a massive mortgage on their home rather than pay for it up front. This is understandable because not many of us have $100,000 laying around that we can buy a house with.

But, for those who choose to save up the money and buy their home with cash, the rewards are plentiful. Not only is it cheaper, but it will save you from being chained to the bank on a lengthy mortgage plan that you might end up wanting to opt out of before its even paid off.

Let’s take a look at how you can avoid a mortgage and buy your next home upfront, with cold hard cash.

Frugality is the Name of the Game

While it’s very likely that everybody would buy their home with cash if they could, hardly anybody does. This is because most people just lack the discipline to save up.

Now, if you make 20-30 thousand dollars a year, you’re going to be waiting a long time to buy your own house, even living on the bare minimum.

But, if you are someone who makes 50 thousand or more per year, or you also have a spouse who makes just as much as you, it is very possible for you to buy your own home with cash, in a couple years.

If you can manage to save just a couple thousand a month for a period of 5 or more years, you’ll be right in range to buy a nice house all by yourself.

Benefits to Buying With Cash

The benefits to buying your home with cash are usually not afforded to those with a hefty mortgage to worry about. For instance, without a mortgage payment, you can plug more money into your retirement plan, thus bringing about your retirement earlier, or having more money to blow when it is time to call it quits.

You can also invest your extra cash into some kind of money making scheme, like the stock market, startup companies, or bonds. As long as you know what you’re doing, this can turn out to be a very useful stockpile of money should you need to pay for an emergency, send your kids to college, or provide for your family in case something happens to you.

Wrapping Up

Buying a house with cash is undoubtedly the smartest way to buy a home, it just takes a certain amount of discipline when it comes to saving the money.

Don’t waste your time and resources doing it alone or working with an amateur agent, contact a reliable real estate agent today and put yourself in good hands.

Read More

Before Buying A House, FIND, What You Want, And Need!

May 7, 2020   Buying House, Property Marketing, Selling House

Since, for most people, the value of their house, represents their single – biggest, financial asset, wouldn’t it make sense, for potential buyers, to take the time, and make a concerted effort, to fully consider, what they need, and want, including their finances, etc? Before you should, buy a home, fully consider, and FIND, what you want and need, and, whether, you are making the wisest move, for you! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, why this is the smartest, sanest, and most necessary, approach, to proceeding, in your own, best interests.

1. Future; funds; features: It’s your future, so doesn’t it make sense, to proceed, in a wise way, which balances, both, the finest aspects of your logical, and emotional components? Many become emotionally committed to their perceptions of home ownership, and what, they perceive, it means and represents, but, do not pay, enough attention, to the funds, needed, both, initially, as a down – payment, as well as on a regular, monthly basis! In addition, they fail to consider, whether the features of a particular house, are the ones, they need, and can afford!

2. Imagination: The reason, so many houses, which are listed, on the real estate market, are staged, is to create an attractive, inspiring image, to potential buyers. Rather, one must proceed, with the imagination, to look beyond the obvious, and consider, whether, it makes sense for them, and, if they are getting, the most, bang – for – the – buck!

3. Neighborhood; needs; nuances: Ignore what others want, and focus on your personal needs, both, at present, and into the future! Consider, why you are opting, for this particular neighborhood, and if it serves your priorities, etc! How convenient is it, to, things, such as shopping, entertainment, transportation/ commuting, Houses of Worship, etc? Are the specific nuances, of your selection, those, which might, suit your best interests?

4. Deliver; discover; desire: Will the house, you choose, deliver, what you seek, desire, and prioritize? How much time, and effort, might you, expend, so you fully discover, the best personal course of action, both, in the nearer – term, and in the longer – run? Why do you desire, home ownership, at this time, and are you ready, for the responsibilities, etc?

Before you begin your quest, for a home, of your own, take the time, and make the effort, to FIND, what best meets your personal needs, and priorities, etc! Will you be a smart home buyer?

Read More

55 Years Old – Don’t Buy A House

May 2, 2020   Buying House, Property Marketing, Selling House

If you have owned a house and paid off the mortgage over the years you know the first 10 years is almost all interest payments with very little equity.

There is nothing wrong with buying a house as long as you can qualify. That means a good down payment and a steady job. None of that no-down-payment nonsense. The buyer must be serious about making those monthly mortgage payments and have a good job. Banks are checking these days.

The financial community in the recent past has been required to make mortgages for those who did not qualify with no down payments and had no serious intention of paying if it became economically uncomfortable. It is too easy to walk away.

The true cost of home ownership is not just the monthly mortgage payment. In a new house all the appliances, plumbing, roof, pool equipment, window frames, etc., etc., everything has an estimated life expectancy after which they need to be replaced.

Buying an older home means all of the above will occur sooner. Replace or repair can be expensive.

The true cost of keeping the house is the mortgage payment plus upkeep. Oh and let’s not forget taxes. Then there is a little thing called insurance that is required by the mortgage holder.

The industry calls it PITI = principle, interest, taxes and insurance. Depending upon the length of time of the mortgage and whatever your down payment was it normally comes out 10% annually of the selling price divided by 12 or 1% of the selling price each month.

If the house cost $200,000 that figures about or close to $2,000 per month.

If you are 55 years old do you want to take on that obligation? Wouldn’t it be smarter to rent? If the same quality home can be rented for $1,200 per month the renter could save the difference of $800 each month and in 10 years at retirement have $96,000 plus interest. I can guarantee he would not have that in home equity if he bought the house when he was 55.

Furthermore renters pay much less for rental insurance and have the ability to move to a new location any time. Renters do not have to put on a new roof or replace an old hot water heater. No major upkeep out of pocket expense.

How about a 6 month rental in Canada for the Summer and 6 months in Florida, Mexico or Dominican Republic for the Winter? The only extra would be travel expenses.

With so many rentals available the foreclosure prices are not yet a great buy. If a person wishes to buy there are yet about 4,000,000 more distressed properties to hit the market in the next 2 years. Prices will be even lower than today.

Do the numbers before you buy.

Read More

Risk of Buying a House During the Redemption

April 27, 2020   Buying House, Property Marketing, Selling House

Financial distress may force a homeowner to sell his property. But there are also times when it is foreclosed by the financial institution to which the property is mortgaged. Yet, the redemption period still gives an opportunity to reown the house. However, there are risks which should be considered in order to take advantage of the stipulated time.

First, the redemption period is time-constrained. This means that the homeowner will be given a short period to reown the house after the buyer or the third-party has filed the necessary paperwork to the court. After such period, the chance to regain ownership of the house will be forfeited.

The second risk is associated with the price to regain ownership. Normally, the price tag isn’t all that should be shouldered as there are also mortgage overdue, taxes, and documentation costs. All of these should be paid within the period allotted.

Third, there are personal risks such as the capacity of the owner to raise huge amount of money to cover the necessary expenses to reown what used to be under his namesake. During the financial distress, there might be other expenses that arose such as unpaid utility bills, credit charges, and school fees. These can come on top of regular costs of daily food and travel.

There can also be associated risks that can pop up from the situation such as when relocation is an option until such time that the house is reowned. If moving out is the top choice, then there can again be expenses that could eat up the amount trying to be earned for the redemption. But there are circumstances when the third party would still allow the owner to dwell until it is redeemed or until the redemption expires.

The redemption period is like a last ticket to a must-see movie. But unlike movies which can possibly be streamed on the internet, reownership of a house is tricky. It concerns effort, time, and money. These three needs to be combined seriously along with the right mixture of perseverance in order for the redemption period to be a fruitful endeavor towards repossession of the property where memories and moments are shared and created.

If you are currently under a redemption period and you’re quite unsure of the steps to take, your friendly local real estate agent is just a call away. He will be more than happy to guide you step-by-step and will even give you advices on the situation.

Read More

Selecting Great Beach House Plans – House Plans

April 22, 2020   Property Marketing

If you are planning to build a beach house then you should know that planning is crucial to such construction. Beach house plans are essential because of the fact that there are a lot of considerations involving construction on the shore. Here are but a few of them:1. FoundationEven the Christian Bible will tell you that the beach is not a great place to build strong houses on. This is because the sand can serve as a pretty weak foundation.The action of the water and other elements can pretty much make your house collapse into nothing if you are not careful. Because of this, you need to have a beach house plan which takes this problem into careful consideration.The beach house plan you get has to have a plan regarding what to do in order to strengthen the building’s foundation. Thankfully enough, technology today enables people to do this at a price that’s not so steep.2. Wind actionMost people find that the biggest irritation with beach houses is the wind. Sure, a cool breeze is probably the best thing you can have when you are under the sun. However, cool breezes are not the winds that the sea produces.Combine strong winds with the beach, and you’ll end up with something akin to a sandstorm. You need beach house plans which take advantage of this and which actually help you make sure that the wind does very little to damage your home.Some beach house plans accomplish this through materials. Certain materials are strong enough to withstand the onslaught of even a hurricane and these are used according to beach house plans.Other beach house plans do this through design. Basically, these beach house plans design the building so that it is aerodynamic. This makes the wind pass by it with very little resistance and thus, practically no damage.3. Overall structural integrityAs said before, beach houses are constantly exposed to the elements. Be it wind, heat, moisture, etc.Because of this, it is always important to see if the beach house plans that you are getting take every little factor into account and design the house to be able to withstand the onslaught of nature. This is just a small price to pay for the beauty and luxury of living on the beach.As you can see, there are a lot of reasons for getting dependable beach house plans. It is not really all about the looks. Getting beach house plans is just like making sure that you will be able to truly live someplace nice and which will keep being nice as time goes on.

Read More

How to Speak With a Seller When Buying a House

April 22, 2020   Buying House, Property Marketing, Selling House

Having a serious conversation with another human being is not necessarily easy, especially if you don’t already know the other person. This can be especially difficult if you’re used to working alone in a closed environment like an office or factory. And the ultimate difficulty comes when you’re not confident about your side of the conversation.

Which leads me to the question at hand: how do you speak with a seller when you’re trying to buy their house?

What’s the “pitch”?, I’ve been asked.

Let me start out by assuring you that you’re not trying to create a sales pitch, at all. In fact, this isn’t about selling anything – it’s really about creating a relationship. It’s about listening. It’s important that you talk honestly with the seller, not about yourself, but about them.

People buy from people they like. People sell to people they like.

Following are some negotiation key points:

1. Speak with the owner. The first thing you want to establish is that the person you are speaking with is the person selling the property. It’s important to be communicating with the ultimate decider. You don’t want to work your way to an agreement with the person who met you at the house only to find out that someone else is actually on the deed (the real seller) and doesn’t agree with the terms that have been created.

2. Find out why the home is being sold. Selling a home is never about the house, it’s about the situation the seller is in. There are as many reasons to sell as there are sellers – downsizing, job loss, transfer, illness, divorce, etc. The house is the result of the situation, not the cause.

3. Create a solution. You won’t be their only solution, of course, but you do offer one. Once you have a relationship established, you talk numbers. What they want/need; what it is actually worth after repairs vs. what they think it will be worth; what repairs will cost.

4. Make the offer. What you can offer and why comes last.

And what you plan to do with the property after you purchase it is totally irrelevant to the seller – they just want to get their property sold – so don’t start explaining why you’re buying it. By the time you show up for your appointment, they should know you’re not going to live in the property and that you intend to make your own profit, but they’re not generally interested in our lives. Your focus needs to be on the seller, on their needs and their situation, so relax and plan to listen – a lot.

The negotiation is not a game. It is not a trick. You’re not trying to “win” anything. You’re helping sellers. You’re having a conversation. Think about how you would want to be approached if you were selling.

And always remember, you’re dealing with a person, not a property.

What have you found helpful when negotiating with a seller?

Read More

3 Tips For Buying Land and Building a House to Sell

April 17, 2020   Buying House, Property Marketing, Selling House

“Sell Your House Fast in The Bronx, NY. Call Today and get an Immediate Cash Offer!

we will buy your House for Cash in The Bronx New York… don’t wait months for a realtor to sell your House. Call or Text us today and we will make you an offer within 24 hours! – 347 685 9317

Selling your house with a realtor can get quite overwhelming and stressful. We hear you asking “how to sell a house fast” or “I need to sell my house fast Bronx, NY.” We buy houses for cash and take care of everything for you. You don’t need to waste a lot of time and energy listing your house with a realtor, only for the deal to fall through last minute. We specialize in quick house sales in The Bronx and surrounding areas and ensure that we buy your house in 14 days or less.

As a homeowner, it is never easy to sell a house, a house that you have probably spent considerable amount of time and energy. There are various steps to selling a house by owner the regular way, which includes:

Getting the home repaired and cleaning the house.

Having a complete and thorough maintenance check completed.

Taking care of all the inspection details.

Listing a quick house sale Bronx for cash.

Listing your house with a realtor. Ugh!

Having multiple buyers visit your home to see it before actually finalizing anything.

Waiting for the prospective buyer to actually buy your house.

Negotiating the market rate, which can fluctuate.

The list goes on and on and on and you will wonder “how to sell your house quickly?” We Have the Answer! We will Buy Your House in 14 days or Less in “as-is” condition and will pay you in cash. You don’t have to worry about renovating, repairing or having any inspections done. And the best thing is we will take care of ALL the paperwork for you to sell your house quickly in The Bronx NY.

We buy houses Bronx, NY and help property owners like yourself to overcome the stress and strain of selling your home. We understand that selling a home is never an easy decision and it could be rooted with multiple reasons like- Divorce, Death, Relocation, Unable to pay mortgage, etc. We don’t have to know all the details and and never judge anyone. We’ll just offer you a fair cash price to buy your home in The Bronx “As Is.”

More reasons to choose when asking yourself how to sell a house fast in The Bronx, NY:

Avoid stressful paperwork- There is always a lot of paperwork involved when you want to sell a house fast. We simplify this entire process and make it extremely easy and facilitate a quick house sale in The Bronx, NY.

Repairs- You do not need to repair or renovate your house or even clean it up for that matter! We buy houses in “As Is” condition and do not put you through the stress and strain of running around and chasing contractors to get work completed!

Foreclosure – If you have have had a loss of income through loss of job or divorce you may not be in a position to pay your mortgage. Even if you list your house it can take months to sell and it may still go into foreclosure before there is an actual buyer.

We can help you if your house is in any condition and in ant part of The Bronx, NY. And we will close in your time frame, when YOU are ready!

We are your quickest way to sell a house. Whatever condition, whatever location, We Buy Houses in Queens, Brooklyn, Manhattan, Staten Island, Westchester County, Rockland County, Putnam County & Long Island, NY. Call Now and get an absolutely hassle-free, all cash quote within 24 hours. Call or Text us to help you sell a house quickly in Bronx, NY today! – 347 685 9317 – You’ll be happy you called 🙂

Even if an agent can’t sell your house, we can help. (Sometimes selling a house through a real estate agent is not for everyone.)

And as a bonus…

you don’t need to clean up and repair the property

don’t waste time finding an agent who you trust and who can deliver on their promise of selling your house quickly

you won’t need to sign a contract that binds you to an agent for a certain term

or deal with the paperwork and the waiting and wondering (and hoping)

We’ll know very quickly if we can help you, and unlike selling through an agent, you don’t have to wait to see if the buyer can get financing… we’re ready to buy right now!

Give Us A Call Now At: (347) 685 9317 or https://www.fairofferny.com/

Read More
« Older posts