If you are thinking about purchasing a home, you need to sharpen your focus on what you need to do to save an appropriate amount of money for a down payment. The amount of a down payment you will need to marshal together largely is a function of your credit history and score. Indeed, those two all-important pieces of data will be determinative of whether you will qualify for home mortgage financing in the first instance. With this general information in mind, since 2016, the average down payment on a residential … [Read more...]
3 Tips For Making Your Dream Of Buying A Home Come True
There are several ways to make your dream of being a home owner, one of the first things when starting the process is meet with a lender and have them review your ability to buy. This important step will provide you with the knowledge of what amount you can comfortably afford. This also saves time with your home search since the cost options are narrowed down. … [Read more...]
How To Get A Better Perspective On Affordability
By the KCM Blog Headlines spotlight the fact that buying a home is less affordable today than it was at any other time in more than a decade. Those headlines are accurate. Understandably, buying a home is more expensive now than immediately following one of the worst housing crashes in American history. Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) selling at 10-50% discounts. There were so many that this lowered the prices of non-distressed homes in the … [Read more...]
Becoming a Home Maintenance Pro: Tips for New Homeowners
By Dixie Somers Congratulations on your new home! You survived the paperwork. You got all of your belongings moved in and everything unpacked. You even got a lawnmower, some power tools and a massive tool chest. Now what? Many new homeowners don't even think about home maintenance until something breaks, but that's not the best way to take care of your new home. Here are three tips to help you protect your investment and keep your property in good shape for years to come: Create and Follow a Home … [Read more...]
Think you are ready to buy a house? Here are the 4 signs
Article content courtesy of OpenListings “Am I ready to buy a house, or should I just keep renting?” It’s one of the most common questions among renters and one which first-time homebuyers often spend months (if not years) trying to answer. Here are the four tell-tale signs that you’re ready to take the leap into homeownership. Sign #1: You're ready to settle down In order for your purchase to make financial sense, you’ll want to plan on staying put for at least five years. Answer the following … [Read more...]
11 Renovation Problems So Horrific Homeowners Will Wish They’d Moved
By Lighter Side Staff Sometimes the thought of renovating a home seems much easier than moving. But whether you’re undertaking a major restoration or a minor remodeling, what begins as a dream endeavor can quickly devolve into a nightmare. Surprises may be lurking behind the walls and beneath the floorboards. Often, they can create a snowball effect where suddenly your initial project becomes an extreme (and expensive) home makeover straight out of a reality show. The following home improvement mishaps are … [Read more...]
Multigenerational Households May Be The Answer To Price Increases
By KCM Blog Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multigenerational household – a household with two or more adult generations, or grandparents living with grandchildren – a level that hasn’t been seen in the U.S. since 1950.” Another report that proves this point is the National Association of … [Read more...]
Buying A Home Can Be Scary… Unless You Know The Facts
By KCM Blog Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying! Here are some facts: 40% of millennials who purchased homes this year have put down less than 10%. 76.4% of loan applications were approved last month. The average credit score of approved loans was 724 in September. … [Read more...]
What’s the Difference: Homeowners Insurance vs. Home Warranty
From American Home Shield While both are great protections to have, home insurance and home warranties offer different types of protection. Learn what each covers and why you should consider purchasing both. Photo by: Shutterstock Owning a home is the one of the greatest investments you'll make in your life. Protecting your assets is not just smart—it's integral. The best way to do this is to purchase both a homeowner’s insurance policy and a home warranty. Purchasing both will cover your home, belongings, … [Read more...]
Are Millennials Finally Entering the Market?
By the KCM Blog with commentary from Corrin Martinelli-Griego It appears that Millennials are finally beginning to enter the housing market. In a recent report, CoreLogic looked at the annual net change in household formations over the last decade (see graph below): It appears this is the year that Millennials are finally moving out of their parents’ basements and finding a place of their own. And they are not all renting According to the National Association of Realtors’ latest Existing Home Sales … [Read more...]
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