Day: August 11, 2015

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Hampton getaway weekend Real estate for sale Safe neighborhood

3 Questions to Ask When Buying a New Home

Real estate in the hampton lake community

If you’re buying a new home, you probably have enough questions you’re asking. But never leave anything unanswered when it comes to buying a home, or you could end up paying for it later. Here are a few questions you should be asking when looking for your next real estate investment.

What is the market value? – How much is the house going to cost? Since technically, a realtor isn’t allowed to tell you how much you should offer, it pays to know the basic details about the value of the home. Is the value of the new home going to be going down? Make sure you look in the area for foreclosed homes, since these will tend to cost less than the other options.

Is there anything wrong with this house? – Have you ever wondered if your house was on a flood plain? Questions like this can save you serious strife later. Ask about the foundation, the insurance coverage, previous tenants’ complaints, etc. Realtors will have to be honest about the issues you bring up if you ask about specific issues.

How is the neighborhood? – Getting an idea of what the neighborhood is like can open you up to find out about what it’ll be like to live in your new home. Is the area quiet at night? Or can you expect a lot of house parties and commotion? How about local garbage services? Landscaping companies? There is a ton of info you can learn from your neighbors that you may not be able to get right away from your realtor.

Buying a new home should be the start of a new chapter for you. So don’t let any forgotten questions get in the way of your fresh start. Cover all the bases, and make sure that your new home is the best choice possible for you.

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Downtown philadelphia apartments Lofts in philadelphia for rent Rent an apartment

3 Reasons to Choose Apartment Rental Over Home Ownership

Lofts in manayunk

About one-third of Americans choose to rent over own. There are many factors that go into deciding whether apartment rental or home ownership is right for you: income, location, and availability are just a couple examples of things that can greatly influence your decision. In most cases, especially for younger individuals that don’t have as much money, renting an apartment is almost always the better and more sound option. Here are 3 reasons for anyone to consider apartment rental over buying a house.

    1.) Service/Maintenance: The level of service and maintenance provided when you rent an apartment are amenities you won’t have free access to if you opt for owning a house. Many professional companies offer 24/7 maintenance service for things like leaking pipes, electrical shortages, or broken locks. Lawn care such as mowing, snow removal, and landscaping is also many times taken care of by the landlord if you’re renting.

    2.) Investment: There are multiple studies and research that has been done that shows the financial investment in buying a house is not as economical as apartment rental. Overall choosing to rent saves the average person $560 each month. Not to mention the housing market can be volatile at times causing depreciation outside of your control. Not to mention all the time and effort you must consistently put into a house to raise its value. Unless you know for sure you will be living in a house for over 5 years it’s downright foolish to buy a house. About a third of buyers will make this mistake costing themselves years of paying the price to own a home while not having the time to build any substantial equity.

    3.) Quality: By choosing to rent a loft, apartment or house you will be putting yourself into a position to live above your means in a way. The money you save on a down payment on a house as well as the overall lower monthly payments means you might be able to afford to rent a luxury apartment the quality of which you would not be able to afford to own.

The American public was in some ways sold a bill of goods when for years everyone from the government to schools were telling people home ownership was the American Dream. While it is a fine goal and certainly an option for many people, in most cases the more efficient and economical thing to do is apartment rental. You will have less to take care of on a day-to-day basis, you will save money outright and over the course of time, and you will put yourself in a position to enjoy a quality of life that might otherwise be unobtainable.