Posts Tagged ‘real estate’
Vacation homes can be great investments, but only if they are approached from a strategic point of view. The right time to purchase a second home will depend on certain considerations related to fundamentals, personal finances and the housing market.
Timing the market is not the right way to approach a second home; it is more important to determine whether a vacation home is a good investment at the time the buyer can afford them. With this in mind, there is an undeniable cyclical and seasonal aspect that influences the vacation housing market. Continue reading “When is the Right Time to Invest in a Vacation Home?” »
Whenever you go on vacation, there are many options on where you could stay: a hotel, condo, beach house, with friends or family, and the list goes on. Picking a place to stay at while on vacation is difficult, especially when there are also many factors to consider, like proximity for example. With so many options to choose from, it can be hard to make a decision on where to stay on vacation. In this article, I will discuss reasons to choose a rental vacation home as your place to stay on your next vacation.
Deciding where to live can be one of the biggest decisions that a person will ever make. The argument between city living and mountain living can be an endless one. However, there are some areas where mountain living has a distinct advantage over life in the city. Continue reading “5 Reasons Why Mountain Living is Better Than the City, NC” »
To answer that question, yes. At least, a landlord should consider hiring a property management company. Now the question is why? What is the importance of property management and having a company do it for you? Property management companies are great for your business, especially if you have more to take on than you can handle by yourself. Some landlords will choose to maintain a property on their own, and that’s fine, but others might find it necessary to hire a property management company to help take on some of the work load. Continue reading “Does a Landlord Need a Property Management Company?” »
It’s all about the details and checklists when it comes to finding that perfect dream home. When you’re searching for a new place to call yours, there are several factors weighing in on the decision, and even some that should definitely not be ignored. Often times, house hunters remember the main concepts of buying a new home–location, neighborhood, curb appeal–but they forget about some of the more important components when searching for a new property. Here are a few things to consider while looking to buy a new home. Continue reading “What to Look For in a New Home” »
Having a backyard pool sounds like that piece of the American Dream puzzle. Your kids will love it, and you can always open your home for pool parties. It’s the perfect addition to your property—or is it really? Before you start digging, let’s study the market and find out if it will help you when you decide to sell your house.
Continue reading “Will a Swimming Pool Increase Property Value?” »
There are many attractive aspects of running a bed and breakfast. The chance to meet travelers from all over the world, have the freedom of running your own business, and making a difference in the life of others are all things that draw people to B&B ownership. While you may dream of opening your own inn someday, not everything about the profession is as glamorous as it seems. Like any small business, bed and breakfasts have a great chance of failure if not managed correctly from the start. When deciding to purchase and open a bed and breakfast, there are many important things to carefully consider.
Can you Afford It?
Opening a bed and breakfast isn’t something you can do on a whim. It requires a significant start-up investment, and it’s important to have a good idea of what your cash flows might look like once you begin operations. Analyze data for your region to see how much tourism there is each year, and take a look at the competition in the area. Is the market already saturated? If the hotels and inns surrounding you never seem to light their “no vacancy” signs, chances are you won’t either.
When purchasing a home for the first time, it can be too easy to let emotions get in the way of your better judgment. Once you’ve fallen in love with a house, it can be hard to think practically and objectively about the purchase process. Unfortunately, real estate transactions involve multiple parties with competing interests, and when you lose your head you can lose a lot of money too. If you go into the process with a level-headed knowledge of what needs to be done, you won’t get duped in the real estate jungle.
- Go for a mortgage pre-approval rather than merely a pre-qualification to signal that you are financially ready to purchase. This gives you much more purchase power when it comes to negotiations and it gives you a much better idea of your own financial ability and limitations.
- Look beyond the decor of a home to its core structure. A good real estate agent will have doused the home in a fresh coat of beige paint so that it is automatically pleasing to the eye, but it is far more important to make sure that the house is solidly built and in good shape.
When it comes to buying your first home, that question is not nearly as straightforward as you might think.
There are many so-called “golden rules” that determine how much house you can afford, and these are what your bank uses to decide whether or not to grant you a mortgage. Here are the two most prevalent rules:
1. Your monthly housing costs (mortgage principal+interest+property taxes+insurance) should not exceed 28% of your gross monthly income.
2. Your debt-to-income ratio should not exceed 36% of your gross monthly income, meaning that your monthly housing costs plus any other payments on debt you may have should equal more than 36% of your income.
We love greenhouses, and since we like to think of ourselves as environmentally friendly people, we think everyone who has the space in their backyard should have one. Not only are they easy to build, they make your backyard look great, and they can be a great complement to your house. There are quite a few different types of wood structures you can purchase to help adorn your backyard. Among the many options are gazebos, sheds, pergolas, and of course-greenhouses. A wooden greenhouse can come in a variety of styles and sizes, so you can always select the one most appropriate for your yard area. A basic wood frame unit made to house only plants can be as compact as four feet by four feet. Many of these compact styles are designed to be placed on a patio area where you will have easy access to the materials and plants inside. The Sunshine Garden model comes with a redwood frame and interior shelves as well.