Are you thinking about buying a new home? Congratulations! Buying a house, condo or townhouse is an exciting and rewarding time which tends to be a lot of fun. However, along the way you'll need to make a number of decisions – including whether you want to buy a pre-owned home or one that has been built recently and is brand new. Let's take a quick look at some of the pros and cons of buying a new home versus buying pre-owned. New Homes Tend To Have Fewer Problems One of the major upsides of buying new is that newly-built homes tend to have very few problems within the first few years of ownership. While you'll still be required to make regular maintenance on a new home, when you buy … [Read more...]
Three Ways That Your Credit Score Affects Your Mortgage and Your Chance of Obtaining One!
If you're thinking of buying a home, you've probably been thinking a lot about your credit score as well. Credit scores control so much of what we do in the world of finances, but what does your credit score really have to do with your mortgage? Here are three ways that your credit score could impact your mortgage application. Your Credit Score Affects Your Ability To Get A Mortgage The first thing your credit score tells a lender is whether they should lend to you at all. In some cases, if you have a very low credit score, you may not be able to obtain a mortgage at all. Different lenders will have different criteria for determining safe and unsafe lending situations. Typically, if you have … [Read more...]
How to Purchase A Luxury Home Without Up-sizing Your Costs
Size matters when you are buying a new home. Whether you plan to expand your family, need more room for your stuff, or are concerned with resale value, you want to get the most space for your money. Also, if you want to add a feel of luxury to your home, one of the best ways to do it is to create open spaces rather than cramming all your furniture in rooms so tiny you can barely walk around without knocking something over. Traditionally speaking, the larger a home is, the more it costs. If there are two newly built houses side by side in a subdivision, the bigger one is likely to cost more. However, there are some tricks to finding spacious houses that are affordable. Choose Emerging … [Read more...]
Looking For A Major Lifestyle Change? Consider Buying A ‘Micro’ Home
With the sometimes high cost of buying and maintaining a home and the concept of being sustainable becoming more popular, many people are considering moving to a smaller home to minimize their impact. It's important, however, to consider what living small is really like before deciding that it's the right move for you. If you're curious about life on a smaller-scale, here are some things to contemplate beforehand. Getting Rid Of The Excess It's just a fact that a smaller amount of space means a smaller amount of stuff, but many people don't realize this works two ways. While you won't be able to accumulate the same amount of stuff in a smaller home, you also won't have the luxury of being … [Read more...]
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