Why you should wait to buy that car until after your home purchase

by Bill Everett Jr.

Why you should wait to buy that car until after your home purchase     Getting preapproved for a mortgage is a major step in buying a home. When done properly, it’s like having cash in your hands so you can negotiate effectively with a seller to buy a home.   It’s easily one of the most important things you can do in order to buy the home of your dreams.   But its name gives you a hint as to how fragile this financing instrument can be.   You...

What is the Interest write off deduction?

by Bill Everett Jr.

        Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income.    Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes.   This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you...

Owning vs. Renting

by Bill Everett Jr.

      Making the decision to own a home versus renting one is no small decision. Not only does it affect your expendable cash, but it also has a huge impact on your lifestyle and how much money you’re able to save over time.   Sometimes, the goal to achieve the “American Dream” of owning a home clouds some people’s vision for the future and they buy a home when they should really be renting one.   Similarly, there are people who...

Property tax assessment too high...what you can do about it?

by Bill Everett Jr.

    An increase in home values is great because it increases the equity in your home without you having to invest more money in making it happen. Unfortunately, as the price of your home increases, so does the perceived value of your home in the eyes of your local tax assessor. When that happens, your taxes also go up. The bad news is that your tax rate - the annual percentage of your home’s value that you pay - is fixed by the state and/or municipality in which you...

How to get the home with the furniture included

by Bill Everett Jr.

    So you like the dining room table in the house you want to buy, but your agent tells you it’s not included with the sale.   What do you do?   In short, you ask for it. Well, you negotiate it as part of your offer to purchase the home from the seller.    To effectively get the home you want with the furniture included, you should identify in advance any furniture that you are interested in buying and let the seller (or your agent) know...

How to get the home with the furniture included

by Bill Everett Jr.

    So you like the dining room table in the house you want to buy, but your agent tells you it’s not included with the sale.   What do you do?   In short, you ask for it. Well, you negotiate it as part of your offer to purchase the home from the seller.    To effectively get the home you want with the furniture included, you should identify in advance any furniture that you are interested in buying and let the seller (or your agent) know...

How to get qualified to purchase a home for no money down

by Bill Everett Jr.

      Even with all the insanity that happened during the mortgage meltdown and all the changes that resulted in how money would now be lent to buyers, there are still some amazingly affordable loan programs out there.   Included among them, believe it or not, are no-money-down options for buying a home.   Here are some of the best programs that are out there today and how you need to get qualified to purchase a home using them to buy a home for no money...

How much you should put down to purchase your new home?

by Bill Everett Jr.

      Historically, home buyers seek to put down 20% when they purchase a home.  However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend on your credit score and your...