Real Estate

What are closing costs?

At the point when the title of a property is conveyed to a buyer, closing costs have to be paid. While most people spend a lot of time thinking about saving enough for a down payment, few people think about closing costs. But, exactly what are closing costs? To put it simply, closing costs are the various fees that are paid at the closing of a real estate transaction. This means that closing costs are...

Saving or investing for a home down payment

Is purchasing a new home somewhere on your radar? Then you need to be aware that the first step to home ownership is securing enough funds for a down payment. Whether you decide to invest or save for a down payment it is essential to understand that this is a timely process. This is particularly true if you are either renting or have other major financial commitments. This is a huge obstacle for most...

What you should know about secured loans and mortgages

Owning your own home is a major milestone and a massive step towards securing yourself financially for the future. That is to say, with each payment you make towards your mortgage you are building equity. However, the ever-increasing cost of living, as well as high housing costs have home owners concerned about paying down debt. Most people spend a large portion of their income on debt obligations and...

Home buying terms you should be familiar with

Do you need a glossary on various real estate terms? It can be quite confusing trying to keep up with with all the lingo and terminology used in real estate. Read on for home buying terms you should be familiar with. Appraisal Firstly, let us start by looking at the term appraisal. Simply put, an appraisal is a well-documented and impartial opinion of the value of a home. In addition, an appraiser, who...

Is it a good idea to pay cash for a flat?

For most people looking to enter the real estate ownership space, flats provide a more affordable housing option. With this in mind, is it a good idea to pay cash for a flat? At the onset, paying cash to buy your flat probably sounds like a good idea. After all, you don’t have to worry about mortgage payments and interest rates. Read on to find out if paying cash for a flat is really a good idea. When...

Property deed vs. title

People often use the terms property deed and property title interchangeably. Although the two terms are connected, they are not one and the same. Property deed vs. title, here is how you need to look at the two when you sell your home. Property title In the first instance, when we talk about property title, we are referring to your legal ownership of a home. Property title is what gives you legal...

Should you have a property survey when selling your house

In the first place, let us look at what a property survey entails. For the purposes of this article, we will look at a property survey as a document that shows property lines. Moreover, a property survey includes any land or structures as a schematic diagram. The schematic diagram highlights various measurements as well as angles. In other words, a property survey resembles a sketch drawn from an aerial...

Is there any psychology involved in pricing real estate

Is there any psychology involved in pricing real estate? Most academics belong to the school of thought that dissimilar prices impact our perceptions and actions. As such, pricing influences buyer behaviour expansively. Suffice to say, there is a science or psychology to pricing a property. A strategic market price will no doubt complement your marketing campaign. In addition, a premeditated market price...

Should I price my home below market value

Should I price my home below market value? Every homeowner desires of selling their home for a great price and at a premium. At the bare minimum, you need to sell your home and be able to pay off your home loan and cover any closing costs and fees. In addition, it would be ideal to sell your home for a price that allows you to make a profit that you can direct towards a deposit for your upcoming home...

What you need to know before building a granny flat

You may have extenuating circumstances that require you to build a granny flat. For starters your adult children can make use of your granny flat on their way to financial independence. Thus, allowing them to save on a home deposit. Moreover, you can use your granny flat to accommodate your aging parents, without infringing on your privacy. In addition, you can lease out your granny flat and therefore earn...

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