You will often hear real estate professionals, personal finance gurus, and know-it-all relatives talking about how home renovation choices can affect your resale value. And while I don’t think that these experts are necessarily wrong, they often only tell half of the story. Homeowners should embark on home improvement projects because they want to live [...]
It’s a deceptively simple question: do you want to own your home in 15 years or 30? We all know the pros and cons of each term — the shorter mortgage term has higher monthly payments, but you build equity more quickly and pay less over the life of the mortgage, whereas the 30 year [...]
You see these signs all the time, especially at large intersections: “Rent To Own! No Financing Necessary!” While I’m familiar with rent-to-own (or lease to own, as some call it) when it comes to appliance and even car purchases, I’ve always wondered exactly how this works with a house. I did some digging recently, and [...]
Mortgage rates are near historic lows. Predictions that credit downgrade for the U.S. would send mortgage rates soaring haven’t come to pass (not yet, at least). So far, there are still chances to get incredibly low mortgage rates, whether you are buying a home, or refinancing your current mortgage. However, before you get too excited [...]
“Renting is just throwing away money!” I can’t recall the first time I heard this old chestnut, but I do remember wondering about it. I must have been in my early 20s at the time, and I couldn’t understand how spending money on having a place to live could be a complete waste. Granted, I [...]
For the frugal-minded home buyer, purchasing a foreclosed-upon house may seem like a no-brainer. Houses go into foreclosure when the owner cannot make payments, and the bank simply wants to cut its losses for as much as it possibly can, usually at a price below the market value for the home. With the implosion of [...]
