What to Expect When Buying a House with Cash
If you’ve put aside a large sum of money, you can bypass the mortgage process and pay for your new home with cash. But how?
If you’ve put aside a large sum of money, you can bypass the mortgage process and pay for your new home with cash. But how?
Taking out a home mortgage is a rite of passage for many Americans. According to real estate authority Zillow, fewer than a quarter of buyers pay with cash; the rest receive financing from a bank or another lender in the form of a mortgage, which they pay back over a number of years. But did you know that many people pay more than necessary for their mortgage? If any of these 10 situations apply to you, consider talking to bank about lowering your rates.
Make your transition to a warmer climate a breeze by planning for the less-than-sunny sides of your move.
Prospective home buyers may need to consider multiple loan types, weighing the pros and cons of FHA vs. VA loans. Learn the difference between FHA and VA loans in this comprehensive guide.
It’s an investment gone awry, but don’t lose hope. There are steps you can take to increase the odds of a positive outcome.
Don’t assume everything in the contract is written in stone.
Be prepared for the financial bites that are bound to ensue when you sell your house, you can plan accordingly.
If you plan to sell your home someday (and most people do), it’s important to always consider the long-term consequences of short-term design decisions. Remember, when it comes to resale value, timeless trumps trendy every time. So, before you install a state-of-the-art sports court, invest in a luxury hot tub, or convert your garage into extra living space, keep in mind the following complaints home buyers often express about certain home enhancements.
Usually considered protection for a home buyer, a home warranty for sellers offers benefits to both parties during and after a sale.
Who doesn’t harbor fantasies of transforming a seen-better-days abode into a showplace? Whether hoping to live in the resulting residence, use it as a rental property, or flip it for profit, it’s natural to think: “I’m pretty handy, so how tough could it be?” Ask Andy Kogan, a real estate professional in Kansas City, Kansas, and he’ll tell you: Pretty tough! “It was fun at first, then fun with problems, and finally it was just problems,” says Kogan, who bought a 1957 two-bedroom ranch for $115,000 that he hoped to fix up and turn over quickly. While the kitchen and bathroom remodels were fairly simple, other issues kept cropping up. The job came in $15,000 over budget—and Kogan reaped a mere $500 when the house finally sold. What went wrong? Start clicking!