Posts from May 2015
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29
Homeownership Remains High Priority
Homeownership remains a major goal for Americans, with almost three-quarters considering a home a good investment, according to a recent Urban Land Institute (ULI) report. A nearly identical percentage anticipates becoming homeowners in the next five years.
The report found about half of Millennials and Gen Xers expect their next home to be larger, while approximately three-quarters of Baby Boomers and War Babies (members of the Silent Generation) expect their next home to be smaller or of equal size to their current home. Single-family detached homes are the preferred future housing choice for all generations, but the report reflects growing expectations for duplexes or townhouses, particularly among Millennials.
The report also indicated preferred community attributes, including:
•...
21
Homebuyers: 7 Ways to Prepare Finances
Did you know many homebuyers are financially unprepared to purchase a home? According to a recent survey by the National Foundation for Credit Counseling® (NFCC®), almost half of respondents report being "least prepared" to buy a home – a sign that education is needed, especially for first-time buyers.
Prepare your finances well in advance of searching for a home. Here's how.
1. Make a Financial Plan
Knowing where to start means conducting a complete review of how your household budget is managed. Comparing income and expenses, reviewing debt, and tracking savings are just a few of the ways to measure readiness for homeownership.
2. Review Your Credit Report and Score
Because a mortgage is the largest debt a person is likely to carry in their life, credit histor...
18
How to tackle your home's stubborn stains and odors
(BPT) - From wall stains to washing machines, indoor stains and smells can be a challenge to tackle. Luckily, there are surprisingly simple methods to erase them for good. Here are a few tips to freshen up the most stubborn spots in your home.
Conceal wall stains with primer
Have your kids made artwork of your walls, or has your leaky roof caused a water-damaged mess? Tough wall stains like these can be hard to get rid of, but are easily sealed by applying a high-quality, stain-blocking primer. For example, KILZ Hide-All Primer Sealer covers problem areas on surfaces from drywall and woodwork to concrete and brick. It even masks over dark stains without allowing color to bleed through. With only a one-hour drying tim...
14
PMI Impacting Majority of Homebuyers' Purchasing Decisions
Research recently released by TD Bank revealed that 37 percent of those who purchased a home in the past 10 years – and 43 percent of those who did so within the last two years – required mortgage insurance (MI). Of those who required PMI (Private Mortgage Insurance), 65 percent said that the addition of a mortgage insurance premium left them paying a higher monthly mortgage payment than they originally expected.
The study surveyed more than 2,000 Americans who have purchased a home in the past 10 years. The findings indicate the growing impact PMI has on mortgage payments, which is often required when homebuyers are unable to make a 20 percent down payment to purchase a home. With average PMI costing approximately $100 per month, mortgage insurance can become a significant expense for many borrowers b...
12
5 Ways to Make Your Home Show-Ready
(BPT) - What makes someone decide a home is the right fit? If you're selling your home with an open house, there's a lot you can do to wow would-be buyers. Make the best impression and boost offers with these five tips.
1. Work from the Outside In – Poor curb appeal can turn buyers off before they step foot inside your home. Make sure the outside is every bit as beautiful as the inside. Paint the exterior if you need to, plant flowers and mow the lawn.
2. Clean Up Shop – It sounds simple, but it's amazing how many homeowners don't clean their homes before an open house. If nothing else, the kitchen and bathrooms must be spotless. If you don't feel you can get your home ready on your own, hire a professional cleaning service to do the job for you. The money you spend wi...