Category Archives: Real Estate

How to Afford Living in the City

The “city” is often more expensive to live in when compared to the suburbs. That’s for good reason. The city is where all the modern conveniences are. It’s where many of the jobs are. Plain and simple, it’s where the money is, and if you want to live in the center of it, chances are good that you’ll have to shell out some good money to do so.

If living in the city would put you near your job and everything else you need, you might not be willing to compromise on it. So, how can you afford city living if it’s a bit expensive for you?

It turns out there’s a way to do everything. Don’t turndown that real estate in Toronto just yet. Here are three ways to afford living in the city.

Get a Roommate

If you’re looking to save money on some swanky city apartment, one great way to do it is to split the costs right down the middle with a roommate. The right roommate shares the expenses and even does half the work of upkeeping the place. That is in an ideal world, of course. Finding the right roommate is important, so be sure to interview closely.

Don’t Spring for Luxury

As with anything, the more luxurious it is, the more it will cost. Ask yourself if you really need the best of the best city apartments. Do you need that multi-bedroom suite that’s above the historic bank on the best block of the city? It would surely be nice to have it, but if you’re doing this on your own for the first time, maybe go for something more modest and affordable. One bedroom, a kitchenette, a living area, and a bathroom sounds fine for one person. It saves money, too!

Live Within Your Means

Now that you have this city apartment, you have to do everything you can to save your money. It can be easy to overspend if you don’t pay attention to finances. In this case, you should make a budget that you adhere to at all times.

Set a monthly limit on your spending. Factor in all the important things you need to buy, with rent, bills, and groceries as top priorities. Try to limit impulsive buys, and do whatever you can to reduce your spending even more. You can walk instead of paying for gas or taking a bus.

All these things together should give you some good ideas on affording that city apartment you’ve been wanting!

3 Things To Do if You Want To Sell Your Home

There are many reasons to want to sell your home. You could be moving to a new location or are downsizing. Maybe you’ve just outgrown your current home and need something bigger. If you are thinking about listing your home, make sure to do these three things.

Photo by Sieuwert Otterloo on Unsplash

1. Find a Realtor

The best way to get your house listed and have potential buyers visit is to hire a professional. A realtor Suttons Bay MI is able to do a lot of the hard work for you such as hosting open houses, networking with other realtors to promote your property and creating a marketing plan. Your realtor can also give you advice on how to prepare and present your home for a fast sale.

2. Prepare Your Home

Once you’ve selected a real estate agent, you need to prepare your home for open houses and private showings. You want your house to look its best and this can mean removing worn-out furniture, cleaning and doing some painting. If you’ve already moved out, hire a stager to fill empty rooms. Potential buyers want to see what a room can be and empty rooms make that hard. Remove anything that’s too personal, such as family photos. You are not selling your home but selling someone else their new home.

3. Contact a Mortgage Lender

If you are planning on buying a new house at the same time that you sell your current house, you need to make sure your finances are in order. Find out what you owe on your current mortgage and order a beneficiary statement. Contact lenders to get quotes and find out how much you will be approved for. Your agent will be able to give you mortgage broker referrals if you’re not sure who to contact.

Selling your family home can be a bittersweet experience but it doesn’t have to be stressful. Follow these suggestions and your house will be someone else’s before you know it.

A Few Things You Need To Consider Before Buying an Investment Property

For centuries, real estate has been an excellent way to invest money and grow wealth. Some of the wealthiest members of our societies made their fortunes by investing in real estate. If you are considering following their example and buying an investment property, there are several things you need to consider before signing the paperwork.

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Do You Have Enough Saved Up?

Evaluating your finances is the first thing to do when determining if you are ready to move into property investment. Buying an investment property is different than buying a primary residence. For one, you must have a 20% down payment because mortgage insurance is not available for investment properties. You should also make sure that you have enough money readily available to cover any problems you may encounter before you begin to get rent payments. If you don’t think you do, you should make a savings plan.

Who Will Be Managing the Property?

It’s also important to consider the day to day running of the property. If you are not sure about being a landlord, you should investigate rental management Tacoma WA. Rental managers can do the hard work of property management for a fee and are worth hiring if you feel like you won’t have the time to devote to being a landlord.

What’s the Right Location?

When researching where to buy an investment property, you should think about who your prospective tenant is and what they are looking for. Maybe you live in a university town and want to rent to students. You should look for properties that are close to campus and near shops and restaurants that appeal to students. Do you want to rent your property to a family? Then you should consider homes close to good schools.

If you feel like you have the right answers to these questions, you are probably ready to buy your first investment property. The next step is to contact a local realtor and start visiting properties. You are on your way to investing your money and getting great returns.