Should You Rent, Or Buy?: The 3 C's

Many people are confronted, by the need, to make a decision, whether they should, buy, a home of their own, or, rather, rent a place, to live. We often state, owning a home, is the American Dream, but, unless/ until, we make our decisions, wisely, we might risk, the dream, becoming, more of a nightmare, than dream! Therefore, this article will briefly discuss, examine, and review, the so - called, 3 C's, of making the best personal decision, in this manner. 

1. Cash reserves: Before one buys, he must put together, significant cash reserves, so as to do so, wisely, and with far less stress! Not only is this essential, in terms of putting down a down - payment, and qualifying for a mortgage, but also, preparing for the potential necessary repairs, maintenance, renovation, and/ or any other obstacle, thrust in the face, of a homeowner. On the other hand, renters have a far more predictable, scenario, and potentially, less stress! Examine your personal situation, needs, wants, and priorities, and make the best decision, for you, and your needs, and goals!

2. Credit Rating: In order to obtain the best possible mortgage, if/ when you buy a home, you must pay keen attention, to creating, and maintaining the finest possible, credit rating. Before beginning your home hunting quest, obtain a copy of your credit report, and pay keen attention, to improving it. Avoid making costly mistakes, and if you decide to purchase, avoid taking out, any new credit, or borrowing, in the 6 months, or so, prior to seeking the mortgage. Become credit savvy!

3. Comfort zone: Each individual is different, and different things/ factors make some far more comfortable owning, while others are more comfortable, renting! Know your comfort zone, and act wisely, so you balance, comfort, with your needs, goals, and family situation!

Use the 3 C's, to help you determine, if renting, or buying, is best, for you! A wise, prepared person, acts wisest, in this regard!

3 Professionals, Smart Homeowners Must Trust & Count On

Since, for most people, their house, represents, not only the fulfillment of a key component, of the American Dream, but, also, their single - biggest, financial asset, doesn't it make sense, to proceed, as a homeowner, in the most prepared way, and be ready, for any obstacles and challenges? While a minority of individuals, possess the technical skills, abilities, and expertise, to analyze, recognize, and be capable of repairing systems, etc, which need attention, most, do not have these skills, etc! Therefore, a wise homeowner, asks around, and seeks, in advance, a small panel of quality technicians, and crafts - people, who can repair issues, while they are challenges, before they become problematic! With that in mind, this article will discuss, 3 of these.

1. Electrician: Every house, at one point, or another, requires the services of a professional, electrician! This person must be reliable, honorable, capable, and avoid, making issues, out of minor challenges, as well as recognizing true problems, from the onset! Using the wrong person, not only risks being dangerous, but, also, creates unnecessary stresses, and tensions. Before buying a house, have a qualified individual, check all the sockets, outlets, lights, electrical circuit box, etc, so as to reduce major problems!

2. Plumber: Plumbing issues, include: toilets, sinks, hot water tanks, water pipes, clogs, etc. It's important to have someone, who not only has the necessary skills, but is also, reliable, dependable, and fair/ honest. Ask your neighbors, etc, who they use, and whether they would recommend these individuals, and why!

3. Handyman: Having someone, who is capable of taking care of issues, as they arrive, in a wide variety of areas/ skills, is a smart approach, to home ownership! One's handyman should be responsible, responsive, skilled, and reliable, as well as fair and honorable! Holes in walls, minor repairs, small renovations and changes, etc, are needed, and necessary, for enjoying a home.

Homeowners, who are best prepared, become the happiest, and least stressed! Will you be ready, to own a home, of your own?

4 Needed Reserves, For Less Stressful Home Ownership

The better prepared, and ready, a homeowner, the less stressful, and more satisfying, the experience of home ownership, becomes. In order to prepare, one must recognize, and consider, and examine, 4 needed financial reserves, in order, to avoid unnecessary stresses, etc. While these aren't the only challenges, they are the most common, and, thus, creating these reserves, and committing to all the necessities, and discipline, the happier, and easier the overall experience. Here are a few of the approaches, and possibilities.

1. Monthly costs/ predictable: The predictable costs of home ownership, are those, you are fully aware of, from the onset! The wise homeowner, creates a reserve, of from 4 to 8 months, so, as to be prepared, for any negative contingencies, etc. These costs include the mortgage principal, and interest, escrow for real estate taxes, insurance, etc. Remember, while the principal and interest, might remain the same, real estate taxes often increase, annually, as do insurance premiums, etc. In addition, there is often, insufficient funding of the escrow, and it is recalculated, after the first year, or so.

2. Repairs/ unexpected and unanticipated: Along with owning a house, comes those unexpected, but necessary repairs! While some of these might be minor, the ever - increasing costs of hiring a plumber, electrician, roofer, etc, makes being prepared, a wise move. Funding this reserve, with an additional 6 months, or so, of reserves, is a wise approach, although requires commitment and discipline!

3. Maintenance - regular: Performing regularly scheduled maintenance, often, minimizes, further exposure, caused by being inattentive, or unprepared! Consider the possibilities, which includes seasonal maintenance, fixing minor issues (before they become major, etc), is a smart approach, but how one pays for these, is a necessary consideration!

4. Renovations - future needs, updating/ upgrading: When we first, purchase a home, of our own, our needs, may be somewhat different than they become, in the future! While, unlike the first three scenarios, can and should not, be delayed or put off, we can delay renovations, but, to enjoy, fully, where we live, we often need, to renovate and update/ upgrade. Only by planning, and disciplining ourselves, to have reserves, etc, will this be achieved, without undue stress!

The better prepared one is, the happier the home ownership, experience! Will you discipline yourself, so you are your own, best friend?

Mortgage Options & Alternatives: The More You Know!

For most people, their house, represents their single - biggest, financial asset, so wouldn't it make sense, for them, to proceed, with their eyes - wide - open, and act, in the best possible manner? In addition, the vast number of individuals, take advantage of some sort of loan, and/ or mortgage, and, therefore, often, consider, their monthly costs, rather than, merely the price of the house. Therefore, this article will attempt to briefly examine, consider, review, and discuss, some of the prevailing options and alternatives, regarding the best option, for an individual.

1. Fixed mortgage: Some loans come with, so - called, points, yet, it, seems, very few, understand, what this means. One point equals 1% of the mortgage, paid, up - front, so, for example, a $300,000 mortgage, with one point, means paying $3,000, in advance. This is sometimes, related to credit, while at other times, based on the specific type of loans, and/ or paying - down the rate. The length, or term of the mortgage, generally includes: 15 years; 20 years; 25, 30 and 40 years; and while, the longer, the rate, the lower, the monthly costs, but it also represents, more total payments. It's often a balancing act, between what one can afford, and the best way to proceed. The other advantage of a fixed mortgage, is, having an accurate picture, of one's monthly costs!

2. Adjustable/ variable mortgage: These also come with the possibilities of points, as mentioned above! Other considerations should include an understanding on what rates/ index, determine, the changes, in rates, at specific periods, and what those intervals might be! In addition, one should consider, whether there is a cap, on how much the rate can change, at each period, and overall, during the life, of the loan.

3. When one type, versus other: Many factors might determine, which way to proceed. Sometimes, one may only qualify, initially, because of the proportions and ratios, used, for a Variable mortgage, because, often, these have lower initial rates. Whether the rates are relatively high, at the onset, or low, often, is a major contributing factor, in terns of which is best! One should focus on what makes him comfortable, and paying attention, to both, the immediate, as well, as long - term, monthly rates. It's important to also consider, how long, you intend, to live somewhere, as well as what makes you most comfortable. In addition, don't ignore the fact, qualified homeowners, are capable of refinancing, if that makes sense, in the future!

The more one knows and understands, the better, prepared, he might be, for owning and enjoying, his home! Will you become an educated homeowner/ consumer?

Marketing A Home - Accentuate the Positive!: 5 Keys

Many homeowners, seem to falsely believe, all they need, to sell their home, is to, either have it listed by a real estate agent, or do so, themselves, as a so - called, FSBO! However, after over a decade as a Real Estate Licensed Salesperson, in the State of New York, I have discovered, one of the most necessary, essential components, of this process, is to professional, market it, in order to achieve the most desirable results, which for most sellers, is to get the highest possible, available price, in the shortest period of time, with the least amount of hassle, and/ or, additional stress! Quality real estate agents consider, how to best do so, by accentuating the positive features, and reducing distractions, etc. With that in mind, this article will attempt to review 5 keys, to doing so.

1. Curb appeal: If you can't get potential, qualified buyers, to come in, to view the house, you won't get it sold! Why would anyone be attracted to see more, unless/ until, he sees pictures, online, which inspire and motivate him, to take it, to the next step? This must begin, with paying, keen attention, to curb appeal, which means, what someone sees first, when they approach the house. Reduce potential negatives, including exterior painting, unattractive doors and/ or windows, concrete and paved areas, lawns and shrubs! Consider, whether your listing price, attracts, or hurts!

2. Eliminate any negative distractions: When/ if, anything distracts, rather than attracts, or at least, is neutral, it hurts the possibilities! Any distractions, including poor exterior maintenance, unkempt painting (interior or exterior), cracks in concrete or paved areas, clutter, distracting odors (unpleasant/ undesirable), should be addressed, as soon as possible!

3. De - clutter: Clutter is the enemy of effectively, showing, and marketing a house. Discuss this, objectively, with the agent, you hire, and if, there are major issues, understand the advantages, in certain cases, of using a home stager!

4. Paint, and touch - ups: When a house looks fresher, it attracts more individuals, to envision themselves, living there. Paint in a neutral color, to make the house, seem larger, cleaner, and better cared for. Touch - up, areas, inside and outside, which might benefit from a little attention!

5. Accentuate rooms which make the biggest difference: Kitchens and bathrooms, are generally, the two areas, most buyers, consider, most closely! However, balance the costs, with the benefits, and proceed, accordingly! The entry hallway should be clean, and neat, because you only get one chance, to make a first impression!

We often think of marketing, solely, as advertising, and promotion, but, unless/ until, one focuses on paying keen attention, to these 5 keys, it won't get the most desirable results! Homeowners should hire someone, who articulates a quality, meaningful, marketing plan, and strategy!

The ABCDEF Of Effective Homeowner Representation

Since, for most people, the value of their house, represents, their single - biggest, financial asset, wouldn't it make sense, if a homeowner, who is considering selling his home, seek, and hire, the best real estate agent, who is ready, willing and able to offer effective homeowner representation? After, more than a decade, as a Real Estate Licensed Salesperson, in the State of New York (for more information, on all things - real estate, look at my website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE ), I have developed, what I've come to refer to, as the ABCDEF of effective real estate representation. 

1. Attitude; attention; articulate: Interview several real estate agents, and closely examine, and consider, their attitude, seeking only individuals, with positive, can - do, ones! Will the individual focus his attention on your needs, and priorities, and customize his service, to meet these? Consider whether someone, effectively articulates his ideas, and justifies his value, because if you aren't impressed, chances are, he won't attract others, efficiently, and effectively!

2. Benefits; best effort: Listen closely, and ask lots of questions! Does the individual speak about features, he offers, or how, his service and representation, will benefit you, and what those benefits, are? Will he accept, good - enough, or consistently demand his best effort?

3. Cooperative; clever; CMA; character: Agents should seek a cooperative, team approach, in a clever, outside - the - box, way! You need someone with the quality, of character, which benefits his clients! Listen to how he recognizes his Competitive Market Analysis, or CMA, and whether, his suggestions, are, both logical, and compelling!

4. Delve deeply; deliver: Avoid being represented by anyone, who offers, simplistic solutions, rather than delving deeply, and delivering, the finest service, and representation, on a regular, consistent basis!

5. Empathy; emphasis; excellence: When you interview potential agents, observe whether they are willing to listen, far more than they speak, so they become ready, and capable of understanding, your goals, needs, and priorities, and, will, therefore, exhibit the utmost degree of genuine empathy, you should be seeking, and deserve! How one empathizes, generally, directs their emphasis, and unless, it is on serving your needs, how will he, be able to provide the utmost excellence, you deserve?

6. Face facts; fruition; faithful: It is essential, for your representative, to be absolutely faithful, to his clients! To do so, he must possess genuine, absolute integrity, a willingness to face the facts, and the persistence, to bring, the best possible, solution, to fruition!

Pay attention to this ABCDEF of quality, effective, homeowner representation! Don't you owe that, to yourself?