Posts with tag 'Buying a house'
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12
When to Consider an Income-Earning Home Purchase
While some people buy homes as investment property to supplement their income, others are making it their sole source of income. Additionally, income-earning home purchases are taking on different forms as homebuyers are becoming more creative with exactly how they use their new digs to gain wealth.
With so many competitive South Bend homes for sale, there's no doubt that there's an income-earning home just waiting to be purchased, but when should you consider an income-earning home or investment property? Let's take a look.
- Rental Property
Rental property is probably the number-one way buyers are getting into income-earning homes. In relatively high turnover areas such as large cities and areas near colleges, rental property can be a wise long-term investment for the savvy investment property owner.
Unfortunately, many rental property investors initially forget the fact that with rental property comes a number of issues, including finding renters, upkeep, maintenance, and making sure bills are paid, all while realizing an income. If you're looking to purchase strictly for rental property, make sure you establish a business entity and speak with your CPA or financial advisor first.
13
Buyers: How to Deal With Home Inspection Issues
When buying a home, the seller should disclose any problems or information that would otherwise make you reconsider purchasing their home. But sometimes these things are only revealed after a home inspection.
Don't let a home inspection discourage you entirely from purchasing a home, though. Our real estate agents have been on both ends of home inspection issues and have a few tips and tricks for helping you work through them with the seller.
- Get It in Writing
Before you get too far, make sure that your contract has provisions for what happens if something goes awry during the home inspection. In most cases, basic contracts have wording that allows you as the buyer to request or schedule a home inspection within a number of days from the contract being signed.
Unfortunately, that's where most of it ends and there is very little detail outlining what happens or who is responsible for repairs if something is found to be unsatisfactory. At this point, it's up to you to negotiate with the seller to find a fair and equitable solution, or, better yet, leave this part to your real estate agent to negotiate on your behalf.
18
Why It's Cool to Buy a Michiana Home this Winter
What's on your winter checklist? Winterize your vehicle? Get the kids new snow boots?
Buy a home?
Believe it or not, the winter season is actually a great time to purchase a home in the Northern Indiana and Southwestern Michigan real estate area (a.k.a Michiana). Most prospective homebuyers are surprised when our real estate agents inform them about the many advantages of purchasing a home during these snowy months. Our team at Cressy & Everett Real Estate, feel that all future homebuyers should be aware of the perks that come with viewing and putting an offer on a home during this time of the year.
28
Read This Before You Apply for a Mortgage
Our real estate agents often hear from our new clients that the process of getting a mortgage is intimidating. That's understandable!
Having an experienced real estate agent on your side does a lot to make applying for a home mortgage manageable.
Even so, it's important to know a few things about the process. Once you learn more, you'll see exactly what you need to do to make things easier.
That can be just what it takes to make your worries evaporate. The truth is, most people learn getting a mortgage is quite a bit easier than they imagined. It just takes some preparation.
These four steps will make it easier:
10
Buying a Home? The Pros and Cons of FHA
At Cressy & Everett Real Estate, our real estate agents are experienced in all of the many programs that help you buy a home. A variety of programs are available for first-time home buyers and prospective buyers with different needs.
Navigating these programs is not always easy, but the right expertise can help. One program that many people ask us about is the Federal Housing Administration loan (FHA).
FHA mortgage loans are intended to put homeownership within reach of first-time buyers. Even those who may have had financial difficulties in the past can succeed in securing an FHA home loan if they can meet some fairly straightforward requirements.
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