Thursday, June 24, 2021 / by Diane Breard
You can buy a house with less than 20% down, but other factors determine the exact down payment you need.
Before you start shopping for a home, you need to know what you can afford – and a big part of that depends on how much you can afford as a down payment.
But how much down payment do you need to be able to afford the house you want? The answer isn't the same for everyone, but key information can help you determine the right amount to save, the mortgage programs to explore and other resources to consider to help you buy the right home.
What's a Typical Down Payment Amount?
Beyond being able to buy a home with cash, many lenders and consumers view a 20% down payment with a 30-year, fixed-rate mortgage as ideal.
However, the typical U.S. homebuyer is putting far less money on the table at closing. The median down payment is 12%, according to the National Association of Realtors 2021 Home Buyer and Seller Generational Trends report. Broken out into age ...
Saturday, August 8, 2020 / by Kaitlin Delles
There comes a time in every home owner's life when he or she realizes: “I am not the same person I was when I bought this place.” Maybe your lifestyle or your family configuration has changed, or maybe the house just isn’t as appealing as it was when you signed that ream of paperwork on closing day.
If you’re thinking about moving on, then there are a few questions you need to ask yourself before you take the plunge and list the house. When you can answer these questions, you’ll know you’re in the right place emotionally and financially to move on to your next space.
What is my home really worth?
You can find almost anything on the internet, and that includes an estimated value of your home. How convenient!
But before you try to figure out how much your house is worth on your own, take a deep breath and resolve to remember one thing: “I shouldn’t believe everything I read on the internet.”
It’s possible that an t ...
Monday, August 3, 2020 / by Kaitlin Delles
Nothing lasts forever — including a home where you raised a family or lived most of your working life. And it’s a fact of life that suddenly, a place that was perfect for you a decade or two ago might start to feel cavernous and empty (or just contain more square footage than you really want to clean regularly).
If you’re starting to dream about trading in your rambling old house for a smaller cottage or new condo, then it’s probably time to seriously consider downsizing from your current home. Before you start shopping and put your home on the market, though, there are a few things you need to think about and discuss with any family members who’ll be making the journey with you.
CONSIDER YOUR FINANCES
It’s tempting to look up your home on a website like Zillow or Redfin and revel in how much money it’s worth today. So finances might not be top-of-mind when you’re thinking about downsizing — you may believe that you’r. ...
Saturday, July 25, 2020 / by Kaitlin Delles
There’s a reason why people love looking at photos of homes for sale — it’s rare that we get to see a place look it’s very best, and scrolling through gorgeous room after room helps serious buyers see themselves settling down in those very rooms.
But as any seller (or photographer) can attest, getting a home ready for its close-up (also known as “staging”) is not easy and is definitely not always fun. It involves a ton of cleaning, some furniture removal (or placement), a plethora of attention to detail, and usually a lot of light. This is why professional stagers charge hundreds (sometimes thousands) of dollars for their services.
If hiring a professional stager isn’t in your budget or you’re simply more of a do-it-yourself type, consider taking advantage of these relatively quick and easy methods for helping your soon-to-be-sold home appear shiny and new.
1. CLEAN, CLEAN, CLEAN, CLEAN, CLEAN
Even if you follow every other tip ; ...
Friday, July 17, 2020 / by Kaitlin Delles
As anybody who has ever bought a house before knows, real estate is quite expensive! Many buyers, although elated that they’re about to be homeowners (either for the first time or in new digs), also realize that they need to budget carefully for their move so they don’t get overextended during their new-home honeymoon.
What do you need to know in order to be able to move on a budget — and get it all done without losing your mind? Here are things to consider.
Assess your time vs. money situation
The economics of moving your household are pretty simple: If you have the time to do it all yourself, then you won’t have to spend any money. Or, if you have enough money to pay for other people to move you, then you won’t have to spend any of your own time.
So the first thing to think about is how valuable your time is and how valuable your money is right now. This will likely be different depending on your life stage, what you do for a living, and how much t; ...