Viewing a House: Things You Need to Keep an Eye On

Buying a new house is likely to be your largest financial decision. So, knowing what to look for when viewing a house is critical. Keeping certain things in mind increases your chances of finding a home that meets your needs. 

When you know what you want, you’ll also be on the lookout for any potential pitfalls. So, if you’re in the market for a new house, here’s a list of things to look for when viewing a home.

Consider the Size and the Floor Plan

Don’t be impressed by an extra-large home or unique features, if you’ll never use the space. Prior to house hunting, determine the right size and home plan for you. After figuring it out, try to stick to that as closely as possible. 

Some extra square footage can give you that dream craft room, home gym, or theatre room. But, it also translates to higher energy bills and taxes. And it will take more furniture and effort to keep the house clean. 

So, think about how much space you’ll need for your current lifestyle and how long you intend to stay in the house.

Examine the Kitchen Closely

If your kitchen is the heart of your home, don’t settle for less. Kitchen renovations can be expensive and time-consuming. Many people prefer to remodel to get exactly what they want. 

However, if the home is already above your budget, you may have to wait a long time for your dream kitchen and live with something you despise.

So, make sure to pick a new home that has a kitchen that ticks all your boxes. 

Pick a House With Enough Bedrooms 

The bedrooms in the house will be suitable for your needs depending on what you need them for. Families with small children may not want a house where the master bedroom is on a different floor than the children’s bedrooms. 

If you intend to convert an extra bedroom into a home office, you may prefer a layout where bedrooms are further away from the kitchen and living room. However, when choosing your house, it will ultimately come down to what best meets your needs.

Take Your Time to Inspect the Bathrooms

When inspecting the bathroom, ensure that everything is in working order. Make sure to;

– Flush the toilets
– Turn on the faucets
– Check the fan
– Look for leaks and water damage under the sink and around the toilet
– Inspect for mold.

It may seem too much, but if you’re serious about buying a home, you’ll want to make sure there are no surprises. 

Bathroom renovations are expensive. So, make sure you’re either happy with the bathrooms as-is or get ready to pay for future improvements.

Take Care of Your Plumbing System 

Another important consideration when buying a home is the plumbing system. A faulty plumbing system can cause significant damage to your home. It can cause rotting and molding on your walls and floors, or damage to your paints. 

To avoid future problems, make sure you work with a professional when planning to buy a home. Today’s sewer line companies offer different services. Companies that deal with these issues in 

Columbus, Woodfin, Weaverville, or Franklin help you install the sewer line and select the proper pipes for your house to avoid any potential problems. 

And, if you’re planning to buy a house in Asheville, you can work with an Asheville plumbing company to inspect your house professionally to find and fix any issues in your house. 

Storage and Closets 

Small closets and limited storage space are common in older homes. So, if you have a lot of sports equipment, craft supplies, out-of-season clothing, and holiday decorations, keep track of where they’re all stored while house hunting. 

Because newer homes typically have plenty of storage space, you may want to begin by only viewing them. You can always add storage space, but doing so may require giving up some living space, such as converting a bedroom into a closet.

Final Thoughts 

Ultimately, it can be difficult to find a new home to rent or buy. And, if you decide to buy, you need to make sure you’re satisfied. So, make sure you inspect every detail closely and end up with what you really like.

Things to Look Out for When Buying Your First Home

There is nothing as exciting as buying your first home. This is a big milestone for many people in their life and that is why it is important to get all the details right. A good property investment will keep you happy and your finances stable for a very long time. However, navigating the housing market is not so easy. There are constant changes taking place, which makes it difficult to determine the realistic value of many properties. You have to choose a location, find an adequate mortgage plan and assess all the other relevant details. In order to get the most out of your first home, it is worth considering these important home-buying tips.

Determine your budget

When you commence your first home buyer’s journey it is worth investigating what you are getting yourself into from a financial standpoint. You have to learn what your finances can get you. That is why it is necessary to set up a budget. When determining the budget consider the total costs of buying a new home. Your down payment is going to be the first large sum of money that you will have to pay upfront. You will have to consider several factors in order to determine how much of a down payment you will have. The percentage will vary from lender to lender, and it can be quite a challenge to save up money for a hefty down payment, especially if the total cost is high. Use online down payment calculators to determine where to start. In addition, consider the closing costs as well. This is an additional cost on top of your down payment that you have to manage. However, you can negotiate about the closing costs, and in some scenarios ask the seller to pay for a portion of the costs such as home inspections. Lastly, add the move-in expenses to your budget as well for any necessary repairs or upgrades.

Learn what to look for

Once you have a rough estimate of your budget, you can narrow down your search and find available houses online. Luckily, modern technology allows you to browse homes completely remotely using 3D home tours. These virtual models let you explore every room in more detail compared to traditional photos. This is a good opportunity to take your time and see how the general room layout would fit into your plan. Ultimately, you will save a lot of time by simply browsing available homes online. Hopefully, now you will have a list of homes to visit in person.  Once there you can assess all the other relevant details which photos do not capture, such as the plumbing pipelines and electrical installations. Make sure to include all your senses and assess if the floor is creaking, the walls are damp, or if there is any strange odor. Lastly, check the roof as well for any possible leaks.

The benefits of professional help

As a first-time home buyer, you will have particular benefits that you can leverage to get an even better offer and save a lot of money. However, it can be quite challenging to get to this information on your own. That is why you should hire professionals who will help you get an excellent first-home buyer’s grant with access to a wide range of properties on the market. You can significantly reduce your interest rates as well because you will be able to let professionals guide you through the entire process with expert advice.

Find the right type of home

In addition to managing your finances, you should also pay attention to the actual type of home that you are looking to buy. There are several different types to choose from and not all of them are going to be worth the investment considering your needs. A duplex is going to combine two homes with a single common wall or ceiling, depending on the number of floors in the building. This lets you have an extra private room. Townhomes unlike traditional single-family homes have multiple floors and are attached to other homes side-by-side. Lastly, a condominium will get you a separate living unit in a large building, but without your personal yard.

Choose a location

When buying a home look for the surrounding area and infrastructure as well. If you live with your children make sure that there are schools close by. The availability of parking and local stores are also going to be significant factors in your day-to-day life.

Buying your first home is a truly exhilarating experience. However, it requires careful attention nonetheless. Some of the most important things to consider are budgeting, 3D virtual tours, getting your benefits, and determining the type and the location of your home.  

Here Is What You Need to Know Before Your Next Move

So, you’re fed up with your current place. Noisy neighbors, an unsafe neighborhood, lack of space, expensive rent, and constant repairs are numerous reasons you might want to move to a new home.

Don’t wait until you reach your breaking point. Once you consider moving, it’s important to go ahead and begin making a plan for when you make that jump. While going from one place to another can seem simple–resolving your lease, packing up, and transporting yourself to your new place–there are things you should know before your next move.

With more people than ever using the internet to find a new home, you could forget about critical things that will matter. Here are the things you should consider before committing to a new place.

The Area

You could find an amazing new apartment, townhome, or house with modern features, plenty of parking, and luxurious amenities at a reasonable price. Sounds perfect, right? Not if it’s located in a bad area.

The term “bad area” normally refers to crime, but there is much more to it. You will want to check out the crime rates of your new neighborhood. Strange activity can turn into genuine fear for residents, particularly women. Even if no one bothers you, you don’t want to live on the edge.

Part of your crime research should involve looking at the online national sex offender registry’s database. It’s important to note that the people on this registry don’t necessarily mean they intend to commit a future crime or that their first crime occurred to another person. It’s good to know if someone nearby is on it, though, as you can do further research to determine whether or not you feel comfortable living in their proximity.

Once you feel safe in a potential area, consider its amenities. Homes get rented in the center of bustling cities and calm, rural places, so it’s important to know whether or not you can access the things you want to be around. Your favorite restaurants and grocery stores, entertainment opportunities, green spaces, and medical care are all things to consider when choosing your new place. If you have a long commute to do the things you desire, you might want to look to other places.

Speaking of commutes, it’s important to know how far a prospective place is from your work. If you’re one of the many people now working from home, you might not have to think about the commute. However, if you work in a commercial building, there are a few ways to determine you’re commute time.

You can reach out to other employees who live in the same area to see how long it takes them to get to and from work. You could map it out online if you don’t know anyone in your potential neighborhood. If you are moving to a new job in a far away location, you can use online tools, like Google Maps, to find the fattest commute times. However, you should also look into any local traffic pages for that location to get a better idea of potential route obstacles, like road work, heavy traffic, and accident frequency.

Travel from a potential new home to your workplace during the times you normally would to determine how it will go.

Keeping all of these things in mind will help you determine which area is right for you.

The Rent 

Another thing to consider is the rent you can afford. With prices soaring, renters must stay a little flexible with their ideal home.

You might need to opt for an apartment that’s a little further from your work or choose one with less amenities than what you had in mind. As of 2023, the average asking price for new tenants in the United States is nearly $2,000 a month. This is significantly higher than the prices some long-time renters pay. It’s important to speak to apartments about their asking price and fees instead of relying on anecdotal evidence from current tenants.

Before you decide on the range you’re willing to pay, ensure that you sit down and calculate all your expenses to determine how much you can afford now. Your income and expenses might be different from the last time you signed a lease. You don’t want to under- or overestimate the price you can pay.

Don’t give up on staying in a nice place. Sometimes, adaptation is all you need. If you want a one-bedroom, consider a studio apartment. They’re generally less expensive than other options and you can section off a bedroom with curtains or a murphy bed setup. If you live alone, consider whether you’re willing to live with roommates. Splitting the rent can help everyone live more comfortably than you would alone.

Rent will often cost more in metropolitan areas, but there are exceptions. Thoroughly research your new location to determine the best deals.

The Future

When planning a move, consider whether or not it’s the best decision for you. Sometimes, renters don’t have a choice but to move. Work changes and family needs can influence where you live and at what time. However, sometimes people change homes because they need a change. Don’t let spontaneity interfere with your future plans.

Say you’re looking for a new place but plan to leave the state in six months. Is it really worth losing your current lease, saving to pay for movers, getting references, committing to a new lease, and more? Depending on your current living situation, it might be. For others, sticking it out until the larger move can save time and money.

Knowing your short and long-term plans allows you to evaluate whether or not to move and what you’re willing to commit to during your time at the new place.

Preparing For Your Next Move

Choosing a new place to live can be exhilarating and scary. By reviewing these three things, you can make the best decision.

About The Author

Ava Roman (she/her) is the Managing Editor of Revivalist, a women’s lifestyle magazine that empowers women to live their most authentic life. When Ava is not writing you’ll find her in a yoga class, advocating for body positivity, whipping up something delicious in the kitchen, or smashing the patriarchy. 

First-Time Homebuyer’s Guide: Steps for Buying

Buying your first home is a major life event. A house of your own offers stability, privacy, safety, and a firm foundation for starting a family. There are, however, many pitfalls to the process. If you are not careful, you could make a life-altering mistake.

So, what are the necessary steps you need to take before buying your first home? What does it mean to become pre-approved? How do you boost your credit score so you get a more favorable loan? Are there special kinds of loans for first-time homebuyers? How do you choose a home that can accommodate you and your plans but still be manageable and affordable?

Here’s a complete list of instructions on buying your first home.

Saving money

Almost all first-time homebuyers take out some kind of loan when acquiring their property. That doesn’t mean that they’re totally exempt from saving money, though.

Here are some of the things you’ll want to consider before signing the mortgage contract.

● The down payment

The down payment is the amount of money you will have to bring to the table in order to get a loan for a house.

As a general rule of thumb, a twenty percent down payment will get you favorable mortgage terms. That means that if you’re eyeing a $200,000 property, you’ll need to put twenty thousand dollars down.

That being said, there are certain types of mortgages that can be approved with just a 10% or 5% down payment. Some types of mortgages require no down payment at all. These types of mortgages, however, often carry a higher interest rate. These are the so-called VA loans and FHA loans.

Do some research to find out whether you are eligible for these kinds of loans, as well as whether the conditions of the mortgages are sustainable for you.

● Closing costs

Before your mortgage is finalized and set in motion, you’ll need to take care of the closing costs. Often overlooked by first-time home buyers, they add up to 3-6% of the total mortgage amount. A $300,000 loan will need $9,000 to $18,000 in closing costs – not a negligible figure.

If your mortgage conditions are favorable, negotiating with the lender for them to cover the closing costs is often a plausible move. They won’t always cover the entire amount, but every penny counts.

● Post-signing expenses

Movers, home renovation, home inspections – always budget for these. Make sure you leave enough funds to make the home livable. Sleeping on a mattress for three months doesn’t do anyone any good.

Carefully estimate how big a house you can buy

This is the downfall for many first-time home buyers – buying a home way out of their price range.

Rational budgeting here is crucial. Be as honest as you can with yourself here. Take your income into account, the down payment, and the Annual Percentage Rate on your mortgage as well.

Some people make the following mistake – they can afford the down payment, so they think they can afford the mortgage.

Say you can afford a down payment for a six-bedroom house, but you only need three bedrooms – that’s great news! That means you’ll have more funds left over for the overheads – renovation and adaptation of the house to your style. It also means that you’ll get much more favorable conditions on your mortgage.

On the flip side, if you need a six-bedroom home and can only afford three – don’t rush. Save up for a larger down payment, bide your time, and don’t get yourself into debt that you can never pay back.

Do what you can to improve your credit score

One of the most important factors determining the conditions of your mortgage is your FICO credit score.

Make sure you take steps to improve your credit score before applying for a mortgage. Here’s a list of things you can do – some are instant fixes that bring an immediate boost, and some are long-term strategies to bolster your credit score.

● Make sure you’re timely with your payments

If you pay your bills on time, that’s a great signal for potential mortgage lenders – it’s proof of financial stability and responsibility.

Make sure any old bank accounts with a history of timely payments, make sure that it’s visible on your report. Also, use a rent reporting service to make sure your on-time rent and utility payments are added to your credit score.

● Rectify any stray mistakes on your credit report

Even a small mistake, such as a wrong address, on your credit report, can mean the difference between being approved and denied for a mortgage.

Big mistakes, like untruthful truancy claims, have an even greater effect.
Make sure you dispute all mistakes on your credit score.

● Take credit utilization into account

Credit utilization is the percentage of a loan you actually end up using. Say you take out a $3000 loan and you only spend $1500 of it. That’s a 50% credit utilization, and it’s a good signal to lenders.

For an instant fix of your credit score try this – ask your credit card providers for a higher limit. But here’s the catch: keep using your credit cards as you did before. This will instantly boost your credit utilization and as a consequence, your credit score.

● Consolidate your debts

If you have a number of monthly payments pending on different debts – debt consolidation can do wonders.

Basically, it means taking out a loan that will condense your multiple bills into one, and usually at a lower interest rate. This will boost your credit utilization ratio and your credit score.

Research the best mortgage for your situation

There are many different types of mortgages, some favoring first-time home buyers explicitly.

● Conventional mortgages – The most common type of mortgage. Not guaranteed by the government, you can get approved for as little as a 3% down payment.
● FHA mortgages – These are mortgages guaranteed by the government, targeted specifically for first-time home buyers. You can get approved with a 3,5% down payment, with a much lower interest rate compared to a conventional mortgage.
● VA loans – These usually carry no down payments but are reserved for veterans and their immediate families.

When applying for a mortgage, you’re usually looking at a 30-year commitment with a fixed interest rate.

Conclusion

A first mortgage is kind of a big deal – don’t rush in. Research as much as you can, and take everything into account – the neighborhood, the size of the house, the state of the house and the repairs needed.

Most of all – research the best real estate agent.

About The Author

Stacey is a freelance writer living in Minnesota with her cat, and she’s passionate about yoga, languages, home improvement, and drinking strong coffee. Find her on Twitter @StaceyShann0n

Real Estate In the Centre of Business and Entertainment – Downtown Dubai

Downtown Dubai is an internationally known place of combination of numerous business centers and entertainment. The neighborhood houses most head offices of the prolific companies as well as popular attractions. Residents of other countries come to Downtown Dubai for sightseeing and in search for an area of permanent residence. Affordable prices apartments in Downtown Dubai are in high demand among foreign buyers. They are ready to make use of all the benefits the area offers. Moreover, is there a person who does not want to live among such architectural wonders as Burj Khalifa, Dubai Fountains, and Dubai Mall? We guess, no. Let`s have a look at the peculiarities of Downtown Dubai which make people fall in love immediately.

A brief description of the neighborhood

Dubai is a huge city with 90% of foreigners living there. As any metropolis with an enormous population, the city is divided into districts or neighborhoods. Each of them has its own direction and peculiar features. The Downtown Dubai area serves as both a business center due to the location of offices of global companies and as a tourist area where the attractions of the emirate are concentrated.

The development of Downtown Dubai started in 1997 when a 2,500-square-meter plot for the construction of residential and commercial complexes was allocated. The upscale project was developed under the management of Emaar Properties. It is a renowned developing company that has created various impressive projects in the UAE and abroad. Their thoughtful management and extreme dedication seem to predetermine the success of the neighborhood.

The area is rectangular in shape, with Sheikh Zayed Road running alongside it. Al Wasl, Business Bay, Zabeel and the Trade Center are nearby. Downtown is a short 15 minute drive from Dubai International Airport along Sheikh Zayed Road or Al Khail Road by public transport or cab. It is necessary to know that due to frequent congestion on the main roads, the taxi drivers take extra payment.

Location of Downtown Dubai

Downtown Dubai is easy to get from the airport. The most comfortable way is to take the metro and go to Burj Khalifa or Dubai Mall station. From this place, all the popular attractions are within a walking distance.  Reach the central part of the district via the Sky Bridge, which is a covered pedestrian area with air conditioning and a horizontal escalator. The proximity of the main highway and subway line allows for quick access to other parts of the city.

The infrastructure of the neighborhood

Coming to the most popular tourist destination, you have no worries about poor infrastructure or absence of something basic. Downtown Dubai is a center of reserved luxury, serious people, and floods of tourists. In addition, there is no service you will not be able to find there. Downtown Dubai is the center of the city, where the infrastructure is well developed. In addition to the many boutiques, beauty salons, restaurants and entertainment centers for tourists, there are medical facilities, kindergartens, schools, banks and supermarkets within walking distance.

The closest beaches to the area are Jumeirah Beach and the free city Open Beach. They can be reached in 15-20 minutes by car or 50 minutes by public transport.

Real estate in Downtown Dubai and its economic attractiveness

Emaar Properties implemented the most innovative ideas and modern designs to create the developments of unique style. Real estate in Dubai, the UAE has no rivals in the world. The premium residential complexes offer apartments in the next constructions:

  • Elegance Tower – 1-2 bedroom apartments from $487,000

  • Il Primo – 4-5 bedroom apartments from $3,050,000

  • Burj Crown – 1-3 bedroom apartments from $290,000.

There are much more variants to suit any taste and budget. Besides, buyers are free to invest in the completed real estate as well as properties under construction.

The key words

Downtown Dubai will become an ideal place of residence for expats with different desires. The neighborhood stands in the middle of big career opportunities and recreational zones. The beneficial combination of two important features makes foreigners look for high quality real estate in Downtown Dubai. Ax Capital is a good helper in finding an appropriate housing option in a convenient location.

5 Ways To Invest In Senior Housing 

The senior housing market has grown steadily by the day. This is because a significant number of baby boomers have reached retirement age. By preference or through circumstances, most feel more comfortable living in senior homes.

There are many reasons seniors prefer living in senior homes. For instance, some don’t want to live in their large empty houses where they brought up their children who’ve since left home. Senior homes offer them the opportunity for companionship and interaction among their peers who understand them better.

The rise in demand for senior housing has also been favored by the medical advancements and breakthroughs that have played a significant role in seniors’ increased life expectancy.

 

Who Lives In Senior Homes?

Senior homes vary depending on the type of care the seniors need. There are seniors who can still do things independently but prefer to live in a community. These seniors live in residential senior housing or apartments.

On the other hand, those who have lost the ability to do one or more basic things live in assisted living facilities. Others with health and memory challenges who require higher levels of care mostly stay in nursing homes.

Other kinds of older people you’ll find in senior homes are those who

  • have been recently divorced,
  • have relocated to live near family,
  • can no longer care for or maintain their homes,
  • are looking for minimal upkeep costs, and
  • have lost their spouses and need companionship.

Some seniors who want the freedom to travel without worrying about their property back home also prefer living in senior communities.

Needless to say, senior housing always has a demand. As someone looking to invest in this industry, here are the most ideal opportunities to get you started:

  • Own And Operate A Senior Home

If you’re looking for a way to diversify your investment portfolio, investing in senior housing is an excellent opportunity. Direct investment means you’ll own the facility and run it.

This is one of the most lucrative options for senior housing investment. You’ll reap considerable gains if you have the knowledge and experience required to run this facility. It’s a full-time responsibility requiring you to be knowledgeable about the rules and regulations of the industry.

Additionally, your local laws will require you to know the medical requirements of the seniors. It’s a high-risk business model but also has the potential for high returns. Being in charge, you’ll have a better chance of keeping track of your investment. Senior housing has exceptional resiliency in the commercial market because it carries hospitality, real estate, and need-driven services at the same time.

  •  Real Estate Investment Trusts (REITs)

REITs are companies that buy and sell or operate income-generating properties. Their investment portfolio is spread across many sectors. Therefore, you dilute your risk of investing in one property. Some REITs specifically invest in senior housing. As a shareholder and investor in a REIT, you’ll get your dividends through regular intervals equivalent to your investment.

REITs are low-risk alternatives for individuals who want to invest in real estate without the hassle of managing it. Since you only have to buy shares and not whole units, you can invest even with minimal capital. REITs provide investors with a steady income, especially if they hold it for a long time because the properties’ value appreciates over time.

  • Rent Out Commercial Property To Third Parties

This option is ideal for investors who own property with enough space to hold a senior home. They want to earn from senior housing without shouldering the associated risks.

You can purchase property with the sole purpose of converting it to a senior home. Alternatively, you can buy an already existing senior home and leave the management to entities that have experience running these facilities. That way, you can invest successfully by collecting passive income without any direct involvement with the operations.

  • Triple Net Lease

This type of senior housing investment reduces the risks associated with a commercial lease for you as the property owner. The tenant that runs the home will be responsible for insurance, property taxes, and property maintenance costs. Since the tenant will assume most of the risk, they’ll pay lower rental rates.

The advantage of this setup is this investment opportunity usually attracts creditworthy and well-established tenants. Most leases are long-term and last for ten years or longer. This secures your income for the long term.

  • 55+ Or Independent Living Communities

When you invest in 55+ or independent living communities, you target a particular group of people. Most are perfectly healthy people who’ve retired early and are looking for a convenient place to spend their leisure years.

You’ll find these properties usually in more temperate areas. They have amenities like gyms, pools, spas, and other activities within or near their locations. They’re more luxurious than other types of senior housing. All investors need to do is appeal to the target group’s demographics for considerable returns.

These facilities operate more like regular real estate investments because the residents need minimal to no support. Investors who own these types of properties have minimal liability and risk. They also have relatively fewer responsibilities compared to other senior homes because they don’t have to keep medical support or round-the-clock care onsite.

This option is ideal if you want to venture into the senior housing market without operating too far from the traditional real estate experience.

 

Bottom Line

Investing in senior housing is currently one of the more stable real estate developments and investments. Senior housing presents profitable investment options with many untapped possibilities.

The standard question that investors ask before getting into any investment is, ‘Will the demand for this asset increase?’ Senior housing is an asset class that’s gaining popularity because of its outsized growth in demand and limited supply.

As the life spans of older individuals continue to increase and many of the previous generations continue to age, housing and its associated services will be in demand. Whether you’re seeking ways to diversify your investment portfolio or are just getting started in real estate, you should consider investing in senior housing.

10 Cheapest Places to Live in California

There’s no doubt about it – California is an expensive state to live in. From housing and transportation costs to the price of everyday necessities, it can be tough to make ends meet. However, some places in the Golden State are more affordable than others. Of course, what’s cheap to one person may not be affordable for another, so be sure to factor in your own needs and budget when choosing a place to call home. With that said, here are some of the most cost-effective cities and towns in the Golden State.

Stockton

Stockton can be a great option if you want to find cheap houses for sale in California. It is centrally located and has many apartments and houses available for rent at relatively low prices. Stockton also has many grocery stores and restaurants, making it a convenient place to live. The climate in Stockton is pleasant, with mild winters and warm summers. In addition, Stockton is home to several parks and recreational facilities. This makes Stockton an attractive option for those looking for an affordable place to live in California.

Bakersfield

The city has a relatively low cost of living, and its proximity to major cities like Los Angeles and San Francisco makes it an affordable option for Californians looking to save on housing costs. Bakersfield is also home to several cheap apartments and homes, making it an excellent choice for renters and homeowners alike. In addition, the city’s public transportation system is affordable and efficient, making it easy to get around without a car.

Bakersfield has several community colleges and vocational schools, making it a great place to get an education. The city also has a thriving economy, with various industries providing good job opportunities. As a result, Bakersfield is a great place to live for those who want to experience all that California has to offer without spending a lot of money.

Clovis

The average home price is $226,000, and the median rent is $1,257. The cost of living is 9.4% lower than the California average, and the Clovis unemployment rate is 5.5%. Clovis is a family-friendly city with a variety of things to do. There are several parks, museums, art galleries, and a wide range of restaurants and shops. Additionally, it has several events throughout the year, including the Clovis Rodeo and the Clovis Music Festival. The city is a great place for those who want an affordable lifestyle without sacrificing amenities or entertainment options.

Fresno

Fresno is one of the cheapest places to live in California, with the cost of living nearly 20% below the state average. As a result, Fresno is an excellent place to live for families, as it offers a variety of affordable housing options, good schools, and plenty of things to do. Fresno is also great for nature lovers, near several parks and recreation areas. And, for those who want to live close to the action, Fresno is just a short drive from major cities like Los Angeles and San Francisco.

Fontana

Fontana is a city in California known for being one of the cheapest places to live in the state. The cost of living in Fontana is significantly lower than the statewide average, and the city’s housing costs are some of the most affordable in the state. Fontana’s low cost of living is due to several factors, including its location in the Inland Empire region of Southern California, which has lower housing costs than coastal areas. Additionally, Fontana’s strong job market and growing economy provide residents with more affordable options for employment and housing. As a result, Fontana is an excellent choice for those looking for cheap houses for sale in California.

Sacramento

Sacramento is the capital city of California and is one of the most affordable places to live in the state. Sacramento is known for its diverse population, a plethora of things to do, and beautiful weather. As a result, the cost of living in Sacramento is lower than the statewide average, and the median rent for a two-bedroom apartment is $1,500. In addition, Sacramento is home to many great schools, parks, and museums. The city also has a thriving food scene, with various restaurants.

Eureka

Eureka is a city in California known for its affordable cost of living. Eureka’s low cost of living is partly due to its location; it is far from major metropolitan areas, which helps keep housing and other costs down. In addition, Eureka’s crime rate is significantly lower than the national average, making it a safe and affordable place to live.

Chico

Chico, California, is a beautiful college town located in the northern part of the state. It is home to California State University, Chico, and many other colleges and universities. The city has a population of approximately 93,000 people. The town also has a relatively low crime rate and is rated as one of the safest cities in California. Overall, Chico is an excellent choice for those looking for an affordable place to live in California.

Hanford

Hanford is a great place to live if you’re looking for affordable housing. In addition, it is located in the central valley of California, so it enjoys a mild climate year-round. Hanford is also a short drive from major cities like Los Angeles and San Francisco, making it a convenient place to live. In addition, Hanford offers a variety of amenities and activities. There are several parks and museums in Hanford, and the city provides a variety of recreational activities.

The Bottom Line

Depending on your budget and preferences, there are several affordable places to live in California. Fontana, Sacramento, Eureka, Chico, and Hanford are all great choices if you’re looking for a cheap place to live. Each of these cities has unique features and benefits, so be sure to do your research before deciding. Whichever city you choose, you’ll be sure to enjoy the sunny weather and beautiful scenery that California has to offer.

Is It Better To Buy Property in 2022 or Wait for 2023?

It doesn’t matter where you live, how old you are, and how long you’ve waited for this moment – buying a home is one of the most exciting things you’re ever going to do in your life! This is true for all properties, regardless of their size, price, and location, and this marks the beginning of a new era in your life. However, with the fluctuation of prices that are currently everywhere around us, lots of people are uncertain whether this is the right time for such a big move or not. In case you’re having these doubts as well, here are a few facts that might help you decide whether to buy a property now or wait until next year.

 

Define your budget

When buying a house, wherever you are and whatever you’re doing, making sure you have enough money is the first thing you need to do. Without defining your budget, you won’t be able to do anything other than buy the house of your dreams in your dreams and nowhere else. That’s why making sure you’re financially stable and in a position to buy a property in the first place might take a while and require you to invest quite a lot of time, energy, and patience. This is especially true if you’re buying your first house and have absolutely no experience in this area, but even if that’s the case, you shouldn’t be afraid to make your move – as long as you can finance it, of course. When it comes to waiting, it all comes down to a simple thing: if you have enough money, go for it, but if you don’t, it’s better to wait for 2023 to arrive than to spend all the money you have on a property that won’t work for you.

 

Define your location

It doesn’t matter if you’re in Australia, Canada, or anywhere in the middle – you need to define your preferred location before you start the process of hunting for a home. Some areas might not work for you, and others might suit you perfectly but you won’t be able to afford them or they won’t suit other people in your family. That’s why you have to pinpoint the location and stick to it as much as you can. So if you are looking for real estate in Florida, you should decide what part of the state you are interested in. You shouldn’t be too exclusive, though, and if you can’t seem to find a home that suits you to the fullest, but you find one that’s almost perfect, pick the latter. You can always fix everything that needs to be fixed, and if you end up finding a home at your dream location, don’t wait and just buy it as soon as you can!

 

Get some professional help

Buying a property on your own might seem like the simplest thing in the world, but, in real life, this is as far from being simple as you can imagine. The reason for that is quite simple: if you have no experience in this field, the chances are you’re going to make a mistake or two – unknowingly and unwillingly, of course – and jeopardize your transaction. This is why contacting real estate agents and lawyers might help you quite a lot. This is especially true if you live in places like Australia, for instance, and a property lawyer from Sydney will keep you protected and help you find the best deal you can. These people will take care of your needs and provide you with the best advice you can get.

 

Don’t follow the trends

In the end, this is a major factor lots of people stick to when deciding whether they should buy a new home or not – if people around them are buying houses left and right, they’re more likely to buy a home as well. You may feel this pressure as well, but that doesn’t mean that you should give into it. On the contrary, buying a property is one of the most personal things in the world, and there’s nobody who should be telling you what you should and shouldn’t do.

Though this sounds like the hardest decision in the world, things are quite simple: if you have enough money to buy a home and know exactly what you want, there’s no reason to wait, but if you don’t know where you’d like to buy a property and how you’ll pay for it, be patient and wait a bit longer.

 

How to Know When it’s Time to Move to a Larger Home

Few of us are lucky enough to have the funds to move into our first home and have that be big enough or in the right location to serve as our “forever home.” Still, as your circumstances change or you seek to make the most of market opportunities, you may feel an increasing desire to move to a larger home. As you’ll know, though, bigger homes come with larger expenses, so it can be difficult to know when it’s the right time to move.

Much of this will come down to your situation and your gut instinct, but here are a few tips to help you better understand what you should be considering when making this decision.

 

Signs that a move is on the horizon

Perhaps the first and most irrefutable feeling that you’ll get when it’s time to move is that of being cramped. Whether it’s due to the number of people, the need for more of a workspace, or accessibility needs, you know when there’s not enough space for everyone to be comfortable. Sometimes, this will be as obvious as bumping into things or needing to step over stuff, or more subtle, like hearing activity from all over the house.

Aspects like this can help you to know if you need to move to a bigger house, which USA Today Money expands on by saying that the need for additional storage or bedrooms can also factor in as key reasons. Your work situation can also play into this sense of needing to move. Perhaps you’re now able to work at home, or in a hybrid role, or live too far away from work, or live too close to work where the cost of living is very high. In all of these situations, a house move may very well help to alleviate some of your problems.

 

How to know if a move is right for you

The first aspects to address once you know that you’re ready to move mainly pertain to your finances. A good sign that you can move to a bigger home is if your debt-to-income ratio is low, according to Business Insider. It’s said that to get a mortgage, you need a debt-to-income ratio at or below 43 percent. To find your ratio, divide your monthly debts by your gross monthly income and then multiply by 100 to see the percentage.

 

You can also get a good idea of the affordability of upscaling by using the fee-free mortgage in principle from Trussle to soft check against many mortgage lenders. This service will allow you to accurately see how much you could borrow. Being a soft check, it won’t impact your credit score, but it does check your credit history and eligibility. This way, you get a reliable figure that you can then work from to find a larger house within your budget.

 

However, knowing your prospects as a potential mortgage lender is one thing: another is knowing your affordability on the other side. You’ll need to work out the costs of moving and the admin that goes along with getting a new home, as well as a likely increase in monthly costs. When you move to a bigger house, you’re likely to end up spending more on local taxes and utility bills. So, you’ll want to research those elements too.

 

You’ll likely know when you’re approaching the time when you need to find somewhere more spacious to live, but just before you hit the point when you absolutely need to move, check if it’s financially viable.

 

You Can Save Several Thousand Dollars With These 4 Home Financing Ways!

If you’re in the market to buy a home, you’re probably trying to figure out a way to finance your new property. And that’s only fair. You’d want to spend your money where you get the best deal and perhaps, more savings.

So it won’t hurt to know the various ways you can finance your new home. Who knows, this list might save you a couple of hundred dollars, if not thousands? Read on!

Get a Government Program

The government offers different home financing programs to help you buy your dream property. These include the Veterans Affairs Home Loan Guaranty Program, the Federal Housing Administration (FHA) loan program, and the Department of Agriculture Rural Development Loan program.

Each program has its own set of rules and regulations, so make sure you fully understand them before applying. For example, the VA Home Loan Guaranty program allows veterans to borrow a massive percentage of the property value. In contrast, the FHA loan program only requires a minimal down payment.

You can get more information about these programs on the government’s website or from your local lending institution.

Consider a Private Lender

If you’re not eligible for any government programs or don’t want to go through the hassle, you can always go to a private lender. These entities include banks, credit unions, and mortgage companies that offer financing options outside of the traditional banking system.

The interest rates and terms vary from one lender to another, so it’s important to shop around and compare rates before you sign anything. You also want to ensure that the lender is reputable and has a good track record.

Mortgage

Mortgaging is one of the best and most straightforward ways to buy your new property. You can go to any bank or lending institution and apply for a loan. The amount you can borrow depends on your capacity to pay, which the bank will evaluate based on your credit score, employment history, and other factors.

The good thing about this option is that you can get up to 80% of the property value as long as you’re willing to pay the down payment and other associated fees. You can also take your time repaying the loan, which is usually between 15 to 30 years. Valley Strong is a good option.

Make sure you read the underwriting terms and conditions before signing important documents. There may be hidden terms that you should know before you authorize the mortgage from your end.

Ask friends or family members if they have any recommendations. They might have had a good experience with a particular lender in the past.

Borrow from Family and Friends

If you’ve got wealthy friends, why not ask them for help? They can either lend you the money as a gift or as a loan. The latter is more common because it’s easier to keep track of the transaction if it’s done formally. You might want to put everything in black and white, including the interest rate and payment schedule.

You can also ask them to cosign on the mortgage with you, which will help improve your chances of getting approved. Remember that this might strain your relationships if payments are not made on time or if you fail to repay the loan.

Use Your Savings

If you’ve been saving up for a while, this is the best time to use your hard-earned cash. You can either use it as a down payment or pay the entire cost of the home upfront. If you’re using your savings, make sure you have enough money to cover other costs such as property taxes, homeowners insurance, and repairs.

Final Word

Financing your new home can be a daunting task, but with a little bit of research, you’ll be able to find the right option for you. No matter which way you choose, make sure you compare interest rates and fees to get the best deal.

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