For many people, moving time means decision time: Do we buy a home or find a place to rent? This dilemma doesn’t just face young people starting out, but it also stumps established professionals relocating for a job and empty nesters who have sold the big family home.
Corey Fick and his wife, Jessica, both grew up in families that owned their homes – he in Washington state and she in Michigan. After finishing college and graduate school and getting jobs with nonprofits in Boston, the Ficks, both 27, started thinking they’d like a home of their own.
Read More : http://money.usnews.com/money/personal-finance/articles/2014/10/10/should-you-rent-or-buy-7-questions-to-help-you-decide
There's one piece of advice that every real estate agent on earth will tell you – "If you overprice your home, it will take longer to sell and sell for less money."
Yet, sellers ignore them, and overprice their homes anyway, hoping their home will be the one to defy market physics. Why do they do it? Lots of reasons:
The headline for much of this year has been that home price gains are easing. Prices are still higher compared to last year, but not nearly as much as they had been. Now, suddenly, it looks as if home values could actually go negative on a national level.
"That will be the first time collectively, as a nation, we've seen prices drop since the low point or the trough of the housing crisis," said Alex Villacorta, vice president of research and analytics at data firm Clear Capital.
On average, middle-income families direct 30 percent of their kid-related expenses toward housing, according the 2013 U.S. Department of Agriculture Expenditures on Children by Families Report. The housing costs are twice as much what middle-income families spend on food and transportation for their children.
The USDA factored in the cost of additional bedrooms for kids to come up with the housing figure and assumed that in a two-child household, each kid would have his or her own bedroom.
Read More : http://money.usnews.com/money/blogs/my-money/2014/10/05/6-ways-to-make-bedroom-sharing-possible
For a society that likes shiny new things, the latest research could foreshadow a surprising trend — homebuyers choosing older homes over new construction.
Why? The prices and operating costs can vary widely. In August 2014, the median sales price of new homes sold was $275,600, while the median price of older homes was $219,000. Taxes and insurance may cost less for an older home.
Read More : http://realtytimes.com/consumeradvice/buyersadvice1/item/31047-20141008-how-older-homes-beat-new-homes
Too often, housing that targets "empty nest" and "life after work" buyers is still set up for "drop out of the mainstream" and "end of purposeful life" living that can dead-end people financially and socially in the future.
These condominiums and developments seem set on housing residents for a handful of quiet retirement years after age 65, instead of the active, involved decades that stretch into continually-changing futures with age 100 no longer a big deal. Flexiblity of design, form, and function is essential when considering what "home" needs to be for those decades of change ahead.
Read More : http://realtytimes.com/consumeradvice/buyersadvice1/item/30579-20140916-avoid-6-common-condo-pitfalls-with-21st-century-thinking
It can be right for making home improvements, but don't abuse it to go shopping or pay monthly bills.
With home values rising, more Americans have equity in their homes. That has generated plenty of cheers from homeowners, and it’s also brought back the home equity line of credit as a popular option for the first time since before the Great Recession.
Americans took out $23.4 billion in home equity lines in the first quarter of 2014, up 15.5 percent from 2013 and the highest number in six years, according to Equifax, a credit reporting agency.
When we see rich people, either in our daily lives or in the media, we have assumptions about them. The monikers of wealth – designers bags, expensive sunglasses and luxury vehicles – usually help us identify the status of that individual and make seemingly logical assumptions about their lifestyles.
The thing is, not every wealthy person is a big spender with an immaculate financial history. In fact, being wealthy doesn't mean you necessarily have any clue how to manage your personal finances. Here are eight stereotypes about rich people and names you know who break the mold.
Read More : http://money.usnews.com/money/blogs/my-money/2014/09/25/the-8-biggest-myths-about-rich-people
Your real estate professional is probably advising you to declutter, stage your home, plant new flowers, and make numerous repairs and updates. You may be reluctant to get started because of the costs, but according to home valuation site HomeGain, improvements like these can actually make you more money when you sell your home.
Under HomeGain's Tools for Sellers, you can find the Home Sale Maximizer tool, where HomeGain has identified the top 10 home improvements under $1,500.
If you’re looking to sell your home quickly and for top dollar, there are some lesser-known words that match the importance of the famous real estate phrase "location, location, location."
Those all-important words? Curb appeal.
As the saying goes, "You don’t get a second chance to make a first impression." When people drive up and first see your house, you want them to think of it immediately as a home that has been maintained and well cared for.
Read More : http://money.usnews.com/money/personal-finance/articles/2014/09/19/12-home-improvements-thatll-boost-your-homes-selling-price