The home-buying journey is thrilling but can take longer than expected, especially if you need to restart after a purchase falls through. So, how long should you plan for? Generally, you can expect the process to take around four months, divided into three main phases: the search, the offer, and financing. Phase 1: The Search Finding the right home is a major step that often takes the longest. According to the National Association of Realtors, most buyers spend between four and ten weeks … [Read more...]
20% Down Payment vs. Mortgage Insurance
When it comes to buying a home, one of the biggest decisions is whether to save up for a 20% down payment or opt for mortgage insurance. While a 20% down payment has traditionally been the gold standard, mortgage insurance is becoming an increasingly viable option for many buyers. Here's a closer look at both paths to help you determine which is right for you. The 20% Down Payment: Stability and Long-Term Savings A 20% down payment has long been viewed as a smart financial move, and for good … [Read more...]
Why Moving to a Smaller Home After Retirement Makes Life Easier
As retirement approaches, many people start to rethink their living situation. While the home where you raised your family holds countless memories, it might not be the most practical place to spend your golden years. Downsizing to a smaller home after retirement can make life easier in several ways, offering both financial and lifestyle benefits. Here’s why moving to a smaller home might be the right choice for you. 1. Lower Maintenance and Upkeep A smaller home requires less maintenance, … [Read more...]
House Hacking Pros And Cons Explained
Have you ever heard of house hacking? It’s a real estate strategy that allows you to live in a property while renting out part of it to generate income. This approach helps offset your living expenses and can even pave the way to financial independence. Here’s a breakdown of what house hacking entails, along with its benefits and drawbacks. What Is House Hacking? House hacking involves purchasing a property, living in one part of it, and renting out the other parts. The most common … [Read more...]
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