There’s no doubt that this shaky economy has made everyone nervous, especially new home buyers. A mortgage is unlike other types of short-term loans, like a loan until payday which is paid back in the next paycheck cycle. Instead, a mortgage is a financial obligation that last decades from between 15 to 40 years, depending on the type of mortgage loan you take out. For home buyers who are wondering if their jobs will survive another year, the prospect of getting into that much debt for that many years, especially now, is particularly frightening. However, there are still some things to remember that make home buying a stable way to grow wealth, even in uncertain times.
Fixed Payments
As long as you opt for a fixed rate loan, your mortgage payment will remain relatively the same from the start of the mortgage to the end of it. Apartment rentals, on the other hand, tend to increase yearly as landlords try to get more out of their tenants year after year once the lease ends. If you buy a home that can be paid for on one income, in a two-income household, this can be a much more stable than renting. Even if you lose both incomes, the foreclosure process can take months, if not years, before you have to leave the home, unlike an apartment which can evict you much sooner.
Low Rates, Great Deals
The mortgage rates are very low and probably won’t remain that way once the economy starts to heat up more. The inventory of houses and low prices mean that this is definitely a buyer’s market. With many homeowners waiting to sell their homes so they can upgrade, a buyer has the advantage and can ask for many concessions to sign the contract.
Still Need Good Credit
Credit still has to be good, but the freeze on credit is loosening. You can get a better deal if you have 20% of the home price upfront for the down payment. You can even buy insurance to protect you in case you lose your job and need to keep up with mortgage payments. Getting the home seller to fund the purchase of a maintenance plan for the first year can also help you from unnecessary expenses when you first move in.
That’s a good question! You want to purchase a home that will give you a good resell value later on. To do this, look at the type of home you’re planning to purchase that may be attractive to future buyers. When you’re looking to purchase a home, check to see if some or all of these features are offered:
1. Location of the home. Is the home located in a good neighborhood that is close to schools, stores, freeways, etc…
2. Check the crime rate for the area you’re thinking about purchasing in. What are the crime rate statistics. Is the neighborhood safe?
3. Is there anticipated growth for the areas such as: new schools, stores, future planned homes, etc… How will this affect you in the future?
4. Try to make sure the square footage of your home is at least 1200, in order to increase the likelihood of being able to resell.
5. Look for homes that have at least three bedrooms as part of your prospective home purchase. This will be helpful in reselling your home in the future.
6. You may want to look at whether or not the home should have one or two stories. Most people purchasing homes are interested in two stories. However, the elderly or individuals with certain disabilities may want to purchase a home that is a single story.
7. If the home you’re thinking about purchasing has a pool, keep in mind this may limit the number of prospective buyers if you decide to sell your home. Pools don’t necessarily add much value to the home and can be expensive to maintain!
8. You may want to consider having a garage which can accommodate a minimum of two cars. This is usually an attractive and expected feature for buyers.
9. The number of bathrooms is also important. Getting a home with at minimum of two bathrooms is a must when purchasing a home for future resell.
10. Make sure the home you’re considering has a fireplace, air conditioning and heating system.
When you purchase a home, just think of being able to get a good return on your investment if you had to resell. In most cases at a bare minimum you want to get the money you have invested in your home out of it, if you had to sell for some reason. It’s even better if you can make a profit on you sale isn’t it? I thought so, just be wise when you’re purchasing your home, it’s an investment in your future!
Due to popular request, we have decided to compile ten of the most important tips for those thinking of buying a home abroad. Foreign property is normally at the top of most people’s wish list. Indeed if we won the lottery tomorrow, most of us would delve into the foreign market.
As always, there are concerns. Many questions are often asked, and there will always be a little uncertainty. However, TDS Homes International have collated some of the most common asked questions and have decided to simplify the process. You’d be surprise to learn that in most cases it’s simpler than buying a property in your own country.
Here then are top tips when looking or buying abroad:
1) Always do your research first. This is probably the golden rule when buying abroad. There is so much to learn, from choosing the right area to understanding what your budget can buy you. It’s always a good idea to know what type of property you’d like, and what it is most likely to cost. So many people mis-judge the cost of a property and quite often feel let down when they realise that the price of a townhouse can sometimes be considerably dearer than an apartment.
2) Holiday, Investment or Permanent Living? Another area that can confuse people. Many people have a preconceived idea that you can juggle holidays and investment, and although this can be true, you need to ask yourself if you really feel comfortable with others renting your property. Another piece of advice is to consider using your home for a few holidays before you totally commit to permanent living. Sometimes it can be hard to settle in an area if you have only been there once before. But if you’ve had a few holidays there then it makes it so much easier when you come to move permanently.
3) View & Purchase your property with a reputable company. This is where it can be easy to come unstuck. There are many reputable companies abroad and home that specialise in foreign property. And there are many fly-by-night estate agents. Check that the company you are viewing property with only sells freehold properties. If any properties are not 100% freehold, then run a mile. Also, check how long the company has been operating. Do they have any special endorsements /awards for excellence. Are they ISO registered? A ten minute check can give you a lot more confidence when buying abroad.
4) Get yourself a lawyer that specialise in the country of your choice. TDS Homes International have a team of specialised solicitors in dozens of countries. In Spain for example, we have worked alongside one reputable law firm for nearly 20 years. Remember, they work for you and not the real estate agent. So check their credentials. If you are not happy, then there are amny other good law firms available.
5) Enjoy the whole experience. It’s a fantastic experience and one that you’ll remember for the rest of your life. Just imagine how you’ll feel when you finally turn the key in the lock of your new home abroad. You’ve bought the furniture, and you’ve grabbed a phrasebook at the airport. Now you’re ready to go.
If you would like to know more about viewing properties abroad, then consider taking one of our Inspection Visits. Flights, accommodation and food are usually included and you’ll be assigned your own personal property consultant who will guide you through the whole trip.
Are you a fan of the open road…at night? If so, you’re definitely in good company — many people like driving at night and it’s gotten easier than ever before to really have a great driving experience after the sun has long set underneath the horizon. Nighttime safety while driving is a must, and when it comes to your car, this means that your standard headlights just won’t do. You will need to make sure that you really have the right equipment for your car. This ultimately means having halo headlights.
As the name implies, these are headlights that have a really sharp modern look while still providing a strong “halo” of light. When you know that you will be going on a lot of drives at night, it pays to have strong headlights to back you up. There’s really nothing like being able to go jut about anywhere you want and never having to worry about whether or not you’ll be able to see everything coming your way.
If you’re ready to buy halo headlights for your car, your best source for them is definitely online. The prices are cheaper, and fast delivery means that it won’t take long before you’re actually enjoying your new headlights to the fullest — why not get started today?
No wants to think about what they would have to do to recover data from their computers, but the reality is that hard drive failures happen more often than you think. Even if it’s not an outright hardware failure, the reality of the matter is that there always seems to be some sort of virus or piece of spyware waiting to infect and take over your computer. Some infestations can get so severe that the entire drive has to be erased and the operating system must be installed again.
When you know that you need to undertake hard drive data recovery techniques, it can definitely be scary. There’s no reason these days to try to take care of it on your own. That’s what hard drive recovery specialists are for, and their prices are not as expensive as you might imagine.
If you really want to find a city that handles data recovery Los Angeles is definitely the place. Even if you don’t live in the city proper, you can always send in your drive to be handled by some of the best recovery teams in the country.
Overall, when you look at it from the right perspective, hard drive recovery truly is all about making the impossible become possible — why not check out a recovery service today?