Category Archives: Home Buyers

Do Existing Personal Loans Affect a House Purchase?

Are you planning to purchase a house but have an existing personal loan? Do you want to know if it will affect your purchase? Many individuals that are planning to buy a home are asking the same question. 

It is important to be independent and have your own space where you can rest and get cozy. Being independent will also help you grow as an adult and learn to live alone without your parents. 

Therefore, purchasing a house would be one of the most significant decisions you can make in your entire life. Continue reading to know the answer, so that you can properly plan your purchase according to what is best in your situation.

Will Existing Personal Loans Affect my Purchase?

An existing personal loan can affect your plan of buying a home. Whether it is a good or bad effect, may all depend on the situation. An unpaid personal loan can reduce the amount you can borrow in the future. It could also significantly affect your credit score, depending on how you handled your debt. 

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Property Experts Share Advice for First Investment

It is almost always exciting to think about the potential that any property investment holds, particularly when you’re new to the business. While buying your first rental property is almost certain to be a lucrative maneuver, it’s important to proceed with care. 

The good news is that all of the most common property investment mistakes have been made before, and with careful, in-depth research, you’ll find it easier to avoid them. Our real estate pros have been in your shoes: begin your quest for knowledge by using their investment tips to your advantage. 

1. Still renting? Buy your own home before you invest in a rental. 

There are tons of reasons to rent instead of buying your own home. But purchasing your own residence before you invest in rental property gives you real-world experience while easing your way into the financial side of things. When you buy your own home first, you’re likely to get better interest rates plus you’ll need a far lower down payment. There are tax write-offs to consider, too. When you’re ready, upgrade to a new home and use the old one as a rental, or continue to live in your home and invest in a second rental property. 

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Finding an Accessible Home

There are many reasons to search for an accessible home. Whether you have a need for more mobility, are caring for an aging parent or plan on aging in place one day yourself, it is crucial to have a home that is barrier-free. Some homes will already be perfectly suited to accommodate homeowners, of all abilities, but others will need a little improvement before they get there. Below, find out what features you should keep an eye out for when searching and discover what can be changed in a house to make it more accessible. 

Finding a Move-In Ready Home 

Some homes already incorporate elements of universal design, which has fewer barriers for people who use a wheelchair or other mobility devices. An accessible home may have features such as wider hallways and doors, low-threshold doors, hard floors and low storage space that’s easy to access. Even features such as a front-load washing machine, rocker-style light switches, and lever-style doorknobs make a home more accessible. 

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House Hunting Red Flags

Buying a new house can be an extremely exciting time. Because of that excitement, it can be easy to rush into buying a house that may appear perfect for you without giving it a thorough look.

There can often be red flags that are overlooked or hidden when house-hunting, but are extremely important to take note of. Tell tale signs that the house you’re interested in may not be what you think. They are often subtle and can go unnoticed. Be sure to take extra caution when house-hunting and be on the lookout for these red flags. 

Odors / strong air fresheners

If you walk into a home and the first thing you notice is the strong smell, this is a very important indication that something could be wrong. No smell should be so overwhelming that it hits you right when you enter a home – whether it be an air freshener or an odor. If it’s an odor, such as pet urine, this could indicate that carpet is saturated with it and needs to be replaced. Or if you’re smelling a strong air freshener, it could be that the owner is trying to cover up a smell of a worse problem in the house. Either way, pay attention to strong smells when house-hunting. 

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Tips for Long Distance Home Buying and Selling

Buying or selling your home is a procedure that’s hard to handle if you don’t have any previous experience or knowledge on the subject. And if it’s a long distance home buying and selling that we’re talking about – it’s even harder.

Long distance moves come with their own specific challenges that people who are moving locally do not face, from organizing the logistics of the move to shipping your belongings. Moving to another state with professional help is much easier than moving on your own; yet, with additional problems arising from the home buying and selling process, it is still very hard to smoothly pull it off. With this in mind, we’ve prepared a handy guide on long distance home buying and selling.

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Five Common Mistakes First-Time Home Buyers Make

Contemplating buying your first home can be stressful. With so many things to consider and decide on, where do you start and what obstacles may you face along the way? Here are a couple of pitfalls you should try to avoid if you are a first-time home buyer.

Not Visiting Enough Properties Before Deciding to Buy

One mistake you should never make is purchasing a house on a whim. This is not one of those decisions you get to be spontaneous about. Think about it from the perspective of making any random purchase e.g. buying clothes. You’d probably try out three to four shirts before picking the best when shopping. If you’d do that for a minor purchase, then it’s perfectly logical to go through at least 20 properties before settling on the best house to buy! The good thing about checking out several properties is that it gives you better insight about different types of homes, the neighborhood you want to settle in and what amenties best fit your lifestyle that each listing offers. Of course, if you fall in love with one of the first homes you see, don’t lose out on it because you are worried you are making a decision too quick. If it’s your dream house…go for it!

Working with a Rookie Real Estate Agent Because He’s Your Friend or Relative

This is not the time to help out your cousin who just qualified as a real estate agent last year. When you realize that the house you buy will be one of the most important assets of your life, you know that you should work with only the best local real estate agent you can find! Finding an experienced real estate professionals might take some more research, but with a little bit of patience you’ll figure out who the best agent is for the job.

Financial Missteps

Before you consider buying a house, you need to check how much mortgage you can afford and also learn about the hidden costs of buying a home. This way, you’ll be able to tailor your search towards houses that are within your budget instead of wasting valuable time visiting properties you can’t afford. Also never underestimate the closing costs and use a reliable closing cost calculator to not be surprised by a huge closing costs, which can be 2-4 percent of your home price. There also the regular homeownership costs after you get your home – you don’t want to buy a home and then find out you can’t afford the monthly mortgage payments, let alone your maintenance fees and property taxes. It’s a good idea to check your future monthly mortgage payment by using an accurate mortgage payment calculator as well as check your annual property tax

Not Giving it Enough Time

Setting aside enough time to process all the important aspects of buying a house is one of the wisest things a home buyer can do. Because the buying process is time consuming, the time interval between when you start looking and when you close on a house can be as long as five to six months. This is essential if you want to find the right property. Also remember that it usually takes between two and three months after putting out an offer for you to close in on a property.  

Choosing the Wrong Property Type

Buying a house should never be based solely on emotions. You need to purchase a solid property type which can serve your needs for at least the next three years. This is one decision that’s solely yours, as you are the only one who knows the right property type that would serve your and your family’s needs properly. For instance, if you have a couple of kids, or you plan to have more kids within a short time span, a small condo apartment would not be the best option for you. Instead, you would need to consider detached homes with more space and freedom for your kids to play in. Live with grandparents who find it difficult to climb the stairs? You’ll need to look out for properties that are easily accessible from the ground floor. Practicality should be the bedrock of your decision making when buying a house.

Making Your Decision

Ultimately, it’s up to you to choose what kind of house would best serve you over the next couple of years. If you choose to be a rational buyer, you would belong to the class of satisfied buyers who have bought the right kind of property. This is the best place to be!

Questions to Ask When Buying a Home With Someone

Buying a home can be a fantastic investment, but it also comes with its fair share of responsibilities, obligations, and financial strains, especially if you’re considering purchasing a home with someone else. While it’s very common for married couples to purchase homes jointly, it’s also not uncommon for people to purchase homes with those they aren’t married to, though this does have pros and cons. Here are some helpful questions to ask yourself when considering buying a home with a significant other, friend, or relative. 

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EXEC Travel: Moving to the Great Lakes

The Great Lakes are a great place to visit and an even better place to live. From affordable housing to outdoor activities and excellent school districts, the Great Lakes region of the U.S. offers so much that there is no reason not to consider these states when looking to purchase a home. Here’s what makes the Great Lakes so special (and why you should move there, too).

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How to Help Your Kids with Back-to-School Season After a Move

Moving can be stressful for all members of the family, but especially your kids. No matter the age, kids can have a difficult time adjusting to a move, especially once back-to-school season rolls around. Since summer is the most popular time of year to move, starting a new school after moving can be challenging, so here are a few tips for helping your kids feel less alone when starting a new school this fall.

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Adding a Pool: Is It Worth the Investment?

Having a pool in your home’s backyard is a dream that so many homeowners share, but only a few end up actually achieving it. While it can seem like a luxury, a pool can actually be a lot of work and ends up costing a lot upfront and over time. There are many pros and cons to adding a pool, and ultimately it’s a big financial decision. Here are a few questions to ask yourself when deciding whether adding a pool to your home is worth the investment.

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