FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
Financial stability is one of the most important factors to successful home ownership. Buying a home is one of the biggest financial decisions you’ll make. You need a steady source of income that can easily cover your mortgage payment-experts recommend that your home cost no more than 20% to 30% of your monthly income.
Is Renting or Buying Better?
For generations, buying a home was considered the cornerstone of the American dream. However, in recent years, people have been debating whether buying a home is always better than renting. “A lot of financially savvy people are stating to question whether it’s economically rational to buy a starter home or to wait and buy that dream house where they’ll live 30 yaears.” The renting-vs.-buying question is not something that people usually ask and answer just once. This decision with many moving parts, and things change.
What Is the Lender's Formula?
The Loan-to-Value (LTV) ratio is an assessment of lending risk that financial institutions and other lenders examine before approving a mortgage. Typically, loan assessments with high LTV ratios are considered higher risk loans. Therefore if the mortgage is approved, the loan has higher interest rate.
What Do I Look for in Homes?
It is helpful to know what you’re looking for, and these are major things you should look for every home you’re thinking to buy. (a)Location of the House, (b)The size of the lot, (3)Number of bedrooms & bathrooms, (4)Kitchen layout, (5)Age of the house & condition, (6)Check Roof, (7)Purchase price, (8)Seller’s Incentive to sell, (9)Homeowner association, (10)Property taxes.
Do I Need a Home Warranty?
A home warranty is not the same thing as homeowners insurance, which covers major perils such as fires, hail, property crimes, and certain types of water damage that could affect the entire structure and/or the homeowner’s personal possessions. A home warranty is a contract between a homeowner and a home warranty company that provides for discounted repair and replacement service on a home’s major components, such as the furnace, HVAC, plumbing, and electrical systems. A home warranty may also cover major appliances, such as washers and dryers, refrigerators, and swimming pools.
What Should I Expect at Closing?
Closing is the final step—before that house is finally yours! Your closing date is the day you become the legal owner of your new home. During the contract negotiation phase, you (the buyer) and the seller set a closing date, which must be listed on the purchase agreement contract. After the seller accepts your offer and earnest money — money given to secure the contract—you can expect to wait a while before your actual closing date.
Even though you and the seller may agree on a closing date, your agents will probably work with your lender and title agency to suggest a timeline that allows them enough time to correctly execute their end of the deal. That could push your closing date out several weeks or even months after your offer is formally accepted.
AM I READY TO INVEST?
Have you wondering if you are ready to invest ? Here are indicators that you are financially, intellectually, and emotionally ready to get going in the Real Estate Investment Market. You have savings for large, unexpected expenses. You have extra cash coming each month. You want to grow your wealth. You realize that one day you’ll want to live off your investments, not earnings. You welcome excitement in your life. You are willing to learn through your experiences and you have time and inclination to read about real estate investment.
HOW MUCH DO I NEED TO INVEST IN REAL ESTATE?
Depending on the project, you may need as little as $500 to invest in a “fix-and-flip” single-family property or townhouse, or you could easily invest $ 100,000 into a major building residential project. It all depends on the kind of real estate investment you’re looking at. You’re probably also familiar with the idea of “flipping houses.”The quick buying, remodeling, and selling of residential properties is a popular TV show format, and many individuals, especially those who like hands-on projects, could find this kind of real estate investing incredibly appealing.
is Real estate a safe investment?
If you want a quick answer: yes. Real estate is a generally safe option for many first-time investors. Real estate is a safe investment; properties and empty lots will always be worth something and the market is generally steady
why real estate is a safe investment?
Real estate is a tangible item. You can’t physically hold stocks. You can hold a stock certificate, but it does not compare to the reality and tangibility of real estate purchases. If you decide to invest in real estate by purchasing a rental property or another type of property, you have physical proof of your investment. Real estate will always be worth something. The tangibility of real estate adds to its worth. A house or a piece of land will never be zero dollars. But a stock can reach those depths in an instant. The real estate market is steady. The ups and downs of a volatile stock market can give you nausea. Just look at the last few days of 2018. Real estate investors don’t have to worry too much about inflation. As prices go up, rents go up too. Real estate can provide a hedge against inflation. If properties are managed well, the value of real estate will continue to appreciate at a rate that can fight off inflation and still offer gains for the owner. It’s easy to diversify your portfolio while still investing in real estate. Investors can diversify their real estate portfolio by investing in different locations, choosing properties with different level of risk, or buying into different types of funds or property investments.
- +1 305-723-9268
Let's Find You Together the Place You Deserve
TO LIVE OR INVEST
If you have any Questions, Please Do not hesitate in contact us. We are glad to Help you.