Why selling your home in the Winter may be a WIN!

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If you’ve thought about selling your home recently but assumed that you missed the Home Hunting Season – think again. While in the past, the Winter may not have been the best time to sell your home, there are actually a few BIG reasons why selling your home in the Winter is a WIN! Continue reading “Why selling your home in the Winter may be a WIN!”

Homeowner’s Insurance 101 – What you need to know

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Odds are that your home is the single most valuable investment that you own and the largest line item on your monthly budget. So, it only makes sense that you’d want to make sure it’s protected.  What’s surprising is that many homeowners never think twice about their homeowner’s insurance policy, let alone read and understand it. They know how much it costs each year but probably couldn’t tell you what’s covered and the limits. BUT, knowing what is covered and what’s not can make all the difference when disaster strikes. Continue reading “Homeowner’s Insurance 101 – What you need to know”

The do’s and don’ts of using the equity in your home

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Building equity in your home, the difference between a home’s fair market value and the outstanding mortgage balance, is every homeowner’s goal. After all, it is the whole point of buying a property vs. renting it. Home equity is valuable savings, but it can also be a valuable finance tool. Continue reading “The do’s and don’ts of using the equity in your home”

What to expect during a home remodel

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With the overwhelming amount of DIY magazines, television shows, websites, and Pinterest boards, at some point you’ve probably decided that at least one room in your house needs remodeling. It’s hard not to get inspired by some of the unique and beautiful designs that you see, not to mention the improved functionality or space that you might gain. But what you don’t see behind the magazine pages or edited from the tv episode is what REALLY to expect from a home remodel. Remember, no matter how amazing the finished product looks or how much value is added to your home – you still have to live through the remodeling process – which for some may be daunting! Continue reading “What to expect during a home remodel”

New Home Owner? How much should you budget for home repairs?

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In all the excitement of purchasing a new home, many first-time buyers often overlook the maintenance and repair costs that come along with owning a home. If you’ve been renting for years, your rent included any costs associated with repairing a leaking pipe or replacing a refrigerator that stopped working. But when you own your own home, all those costs fall on you. Continue reading “New Home Owner? How much should you budget for home repairs?”

How to tell when refinancing your home makes sense

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Refinancing your home is a major financial move that could result in some significant savings for you OR it could make your situation worse. There are typically 2 types of refinancing options:

  1. A rate and term refinance with a goal to save money. You refinance your remaining balance for a lower interest rate and a term (number of years it takes to repay the loan) that you can afford.
  2. Cash-out refinancing, where you take out a new mortgage for more than you owe and take the difference in cash, for example, to pay off existing debt.

Continue reading “How to tell when refinancing your home makes sense”

How to financially prepare for buying a new home

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The home buying season – typically Spring to early Fall – will be upon us shortly, and if you are in the market for a new home – either as a first-time buyer or seasoned veteran – there are some steps you need to take now to financially prepare. Many people get caught up in just finding the right home without doing the legwork needed to ensure a smooth and swift purchase. Here are a few tips to get you ready for those three lovely words – “Clear to Close”. Continue reading “How to financially prepare for buying a new home”

Mortgage Pre-Qualification vs. Pre-Approval – Know the difference!

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Although they sound interchangeable, a pre-qualification and a pre-approval for a loan are two very, very different processes.  Not understanding the difference can often lead to missed opportunities when you are buying a home. Continue reading “Mortgage Pre-Qualification vs. Pre-Approval – Know the difference!”

How to save for your first home down payment

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Buying your first home is a very exciting time, but it can also be stressful when you think about saving for a down payment – no one wants to live on Ramen Noodles for 3 years! Aside from dealing with realtors, trying to keep up with lingo, and not becoming emotionally attached to your dream home before your offer is accepted, you should be making sure your finances are in order and you have money saved for the down payment. Continue reading “How to save for your first home down payment”

Tips for Buying a Fixer-upper Home

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It takes willpower and a budget to invest in a fixer-upper home. You have to see the potential, weigh the pros and cons and see the project through to the end. Knowing when to buy and how to flip, can make a stressful project a breeze. How can you tell if a house is a gem worth saving? If you’ve got a DIY mindset, some patience and a few coins to spend, here are some considerations to make when you’re thinking of buying a rehab home. Continue reading “Tips for Buying a Fixer-upper Home”