Embalagem Calculadora Além de móveis e eletrodomésticos, a maioria de seus pertences precisam ser embalados para proteção e transporte durante um movimento. Caixas podem ser uma das maiores despesas se você comprar mais caixas do que o necessário ou tem que fazer corridas extras para a loja porque você didnt compra suficiente ou o tamanho certo. Calculando quantas caixas você precisa para um apartamento de 1 quarto é muito diferente de caixas para uma casa de 3 quartos, embora especialmente se você tem filhos Vamos ajudá-lo a encontrar as caixas e suprimentos que você precisa com a nossa calculadora de embalagem gratuita. Preencha o formulário acima para ver quais materiais de embalagem você pode precisar. Moving Box Calculator Nossa calculadora de embalagem gratuita é fácil de usar e dá-lhe uma boa estimativa em apenas alguns segundos. Basta dar-nos as seguintes informações: Quantos quartos estão em sua casa atual Que tipo de estilo de vida você vive (minimalista, modesta ou pack rat), o número de pessoas com 12 anos ou mais vivendo em sua casa, e como intrincado você prefere Pacote (básico, médio ou profissional). Bem estimar a quantidade de caixas e suprimentos de embalagem que você precisa para o seu movimento com precisão, se é uma casa de 2 quartos ou apartamento de 2 quartos. Enquanto você está na página, dê uma olhada em nossos artigos relacionados sobre a embalagem e revise nossas dicas para com êxito embalar sua casa. Revise também nossas outras ferramentas e guias, como a calculadora de custos de mudança, o planejador de mudanças, o localizador de utilitários e os relatórios da escola. Ordem de caixas móveis Deseja mais ajuda a garantir que o seu movimento vai sair sem um engate Comprar caixas móveis e materiais de embalagem diretamente através de Moving. Também use nosso planejador de movimento livre para organizar cada tarefa ao longo do caminho e receber dicas personalizadas e lembretes adaptados à sua mudança. Artigos relacionados: As calculadoras on-line neste site são fornecidas apenas para fins informativos. Qualquer calculador não faz afirmações sobre sua precisão ou adequação, e todos os cálculos devem ser confirmados e verificados. Você deve consultar um profissional qualificado quando as respostas a questões importantes ou críticas são necessárias. HarbourLight. org (Clique na seta do jogador para ouvir uma cópia espelhada do wmuu Radio 247 antes de ser vendida.) Distintivamente Christian Radio For The Whole Family Ensino bíblico, pregação, música, drama, notícias e muito mais. Sim wmuu vive sob a forma de HarbourLightRadio. org Use DuckDuckGo como seu mecanismo de busca em vez de Google. DuckDuckGo não irá filtrar sites de notícias como o Google, apenas porque eles concluem tais sites são notícias falsas. 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O PROPRIETÁRIO DESTE SITE NÃO É RESPONSÁVEL POR QUAISQUER DANOS, INCLUINDO QUAISQUER DANOS CONSEQUENTES, DE QUALQUER TIPO QUE POSSAM RESULTAR PARA O UTILIZADOR A PARTIR DO USO DO SITE, OU QUALQUER DOS PRODUTOS, SERVIÇOS OU CALCULADORES REFERIDOS AQUI. EM PARTICULAR, OS CALCULADORES REFERIDOS NESTE DOCUMENTO NÃO DEVEM SER UTILIZADOS PARA FAZER DECISÕES IMPORTANTES, CRÍTICAS OU DEPENDENTES DE VIDA SEM CONSULTAR UM EXPERTO. O Big Bang nunca aconteceu (Ex-engenheiro ateu que trabalha no programa espacial militar explica por quê.) Seminário por Spike Psarris Seattle Criação Conferência, junho de 2013. Woodin Valley Baptist Church, Bothell WA. Fomos informados de que nosso Universo se formou em um evento do Big Bang, há cerca de 14 bilhões de anos. Programas de ciências, livros didáticos e outras mídias afirmam que há muita evidência para isso. Mas isso é verdade Nesta apresentação, bem examinar a teoria do Big Bang. Bem, veja que não só falta evidência sólida, mas também contradiz várias leis importantes da ciência. Em geral bem ver que o Big Bang não é um bom modelo científico. Em vez disso, ele tem todas as características de um sistema de crenças religiosas para ateus - um que é acreditado, apesar da evidência, porque a alternativa (Criação Bíblica) implica responsabilidade a um Criador. Compradores Saiba mais sobre os recursos avançados em nossas ferramentas livres A ferramenta acima calcula os pagamentos mensais com base no montante emprestado, o APR prazo de empréstimo prazo. Calcula também seus pagamentos mensais totais including o imposto de propriedade, o seguro de propriedade e os pagamentos de PMI. Você pode clicar no botão Criar Cronograma de Amortização para criar um relatório de amortização imprimível. Lightning Quick Automatic Results Funciona automaticamente para mostrar os resultados imediatamente à medida que você edita as variáveis de entrada. Não é necessário clicar em um botão Enviar para ver seus resultados. Os campos de saída são mostrados em texto azul com um fundo amarelo. Clique no botão cronograma de amortização para criar um gráfico de amortização imprimível. Private Mortgage Insurance (PMI) Se você colocar para baixo 20 ou mais do valor de casas, PMI normalmente não é necessário amplificador automaticamente calcula PMI como zero nesses casos. Se o seu adiantamento for inferior a 20, você normalmente será obrigado a levar PMI até que o empréstimo pendente ratio (LTV) cai abaixo de 80. Muitos credores cancelar automaticamente PMI em 78, no entanto, você pode solicitar o cancelamento em 80. Em baixo Taxa de empréstimos governamentais, seguro hipotecário é normalmente exigido mesmo se você tiver um forte pagamento. Guia de compra de casa Introdução Dicas e conselhos para compradores de primeira vez Home Para a maioria das pessoas, o sonho de possuir uma casa é uma meta para toda a vida. Você gasta anos protegendo sua posição financeira, procurando uma área adequada e decidindo quando é hora de comprar. Comprar uma casa é a compra maior e mais importante que muitas pessoas fazem em suas vidas. Seu mais caro do que um carro, custa mais para manter e segurar e não pode mover uma vez que você comprá-lo. Não é uma escolha a fazer de ânimo leve. Para aqueles que estão pensando em comprar uma casa, um recurso de qualidade é necessária. Existem centenas de artigos on-line disponíveis gratuitamente, mas eles só contam parte da história. Os livros são mais completos, mas podem ser bastante caros para um recurso de qualidade. Em vez disso, ler e aprender praticamente tudo o que você precisa para navegar no mercado imobiliário com sucesso. Dicas rápidas para novos compradores de casa Sua compra de casa não é feita no vácuo. Certifique-se de que você pode pagar a sua casa e ainda poupar para seus outros objetivos financeiros, incluindo a aposentadoria e um fundo de emergência Certifique-se de suas finanças estão em ordem A última coisa que você precisa é gastar suas economias em uma casa e encontrar você não pode pagar seus planos de seguro Lembre-se que os credores irão dizer-lhe quanto você qualificar para emprestar, não quanto você pode pagar. Certifique-se de saber suas finanças bem o suficiente para saber o que você pode lidar Mesmo se você planeja viver em sua casa para o resto de sua vida, estar ciente de que as circunstâncias mudam. Procure as qualidades de venda valiosa, por isso, se você precisa vender, você será capaz de obter um bom preço Saber que os preços das casas flutuam. Sua casa vai ver várias subidas e quedas de valor ao longo das décadas que você possui. Felizmente, deve geralmente apreciar em valor a longo prazo Esperar viver na casa que você compra pelo menos cinco anos, possivelmente mais. Caso contrário, considere alugar em vez disso. Aluguel adicional versus conselho de compra é incluído mais adiante neste artigo. Loja ao redor. Os credores são empresas, e eles vão competir por você. Reunir ofertas e tomar o seu tempo para encontrar o melhor negócio. Preste atenção aos custos reais do amplificador de impressão de pequeno porte. Algumas empresas podem fazer uma estratégia de isca-n-switch onde a taxa oferecida não se aplica a você, por isso faz sentido olhar passado os anúncios para a oferta real. Aproveite o tempo para encontrar um agente imobiliário de qualidade. As pessoas certas em sua equipe fazem toda a diferença em encontrar a melhor casa para o seu dinheiro Saiba que, enquanto um agente imobiliário pode trabalhar para você, eles trabalham para si em primeiro lugar. Eles só são pagos quando você compra, e eles recebem uma comissão maior quanto mais você gasta. Não deixe que eles vendê-lo em mais casa do que você pode pagar Evite negócios que parecem muito bom para ser verdade. Como com a maioria das coisas na vida, se é bom demais para ser verdade, não é verdade. Você não tem tempo ou dinheiro para se deixar cair por um negócio obscuro Sempre obter uma inspeção de casa, não importa o que o vendedor diz Certifique-se de seu seguro é tão abrangente como você pode pagar. Se você está em um terremoto ou área propensa a inundação, certifique-se você está segurado contra os danos Fazendo a decisão de comprar A primeira pergunta que você precisa perguntar a si mesmo antes de considerar a compra de uma casa é esta. Posso viver nesta casa tempo suficiente para fazer valer a pena Algumas pessoas vão dizer-lhe que se você pretende alugar por mais de alguns anos, é mais barato comprar uma casa. Outros escreverão fórmulas matemáticas complexas que calculam aluguéis variáveis e taxas de juros para determinar a melhor decisão. Alguns irão alertá-lo sobre os problemas de comprar uma casa, alertando você para longe. Eles estão trabalhando para responder a mesma pergunta. Você continua a alugar, ou você comprar uma casa própria No final, a decisão é simples. Qual opção é mais barata Comprar e possuir deve ser mais barato do que alugar. Infelizmente, é difícil determinar qual rota é mais barata antecipadamente. Você não tem nenhuma maneira de saber quanto a manutenção e as melhorias home custarão. Por outro lado, você não tem nenhuma maneira de saber quanto seu aluguel pode aumentar ao longo dos anos, você pode estar vivendo em uma casa. Os números envolvidos tornam as coisas mais complicadas. Como você compara um aluguel de 600 meses a uma casa de 300.000 e determinar qual é melhor Experimente esta experiência: pegue o seu aluguel mensal e multiplique por 200. Se você pagar 600 cada mês, o número que você acaba com é 120.000. De onde vêm esses números A típica hipoteca de curto prazo é de 15 anos. Isso trabalha para fora aproximadamente 180 meses, assim que nós arredondamos o número a 200 para a matemática conveniente. Pagando 600 por mês você começará seu repouso rental atual, ou começá-lo-á aproximadamente o valor 120.000 do mortgage para uma HOME do seus próprios. Você também precisa fator no custo da inflação. Seu aluguel mensal hoje é muito provável que aumente ao longo dos próximos dez ou mais anos. Na verdade, com uma inflação moderada de quatro por cento a cada ano, o seu aluguel 600 será quase 900 em dez anos. Em 20, será mais de 1.300 Seu senhorio pode não acompanhar a inflação de perto, mas você não pode prever as mudanças de preços exato dez ou mais anos de antecedência. Por um lado, o preço para continuar a alugar aumentará com a inflação a cada poucos anos. E quanto ao preço de comprar uma casa O custo da habitação flutua para cima e para baixo a cada ano, mas a tendência geral é maior. Se você esperar, você vai pagar mais por uma casa do que você faria se você comprou agora, ou você vai comprar uma casa menor para o mesmo pagamento. Então, novamente, não é o custo de propriedade sujeito a inflação também A solução para esse problema é uma hipoteca de taxa fixa, que permite que você bloquear em um amplificador de taxa definida seus pagamentos mensais por um longo período de tempo. Se você comprar uma casa 120.000 para o seu pagamento 600month ainda é 600month quando o termo termina em 15 anos. Naquele tempo, idealmente, sua casa terá apreciado. Você pode acabar com uma casa no valor de 200.000 quando você só pagou 120.000. Há também taxas ajustáveis, que têm vantagens vantagens amp de seus próprios. Mais tarde, cobrimos mais sobre os prós e contras de cada tipo de empréstimo, bem como os diferentes comprimentos prazo. Outro fator algumas pessoas não consideram é como iliquidez imobiliário é. Se o seu trabalho desaparece em 5 anos ou você é transferido para um local diferente, você pode ser forçado a vender sua casa a um preço mais baixo ou cobrir o empréstimo, enquanto também alugar outra propriedade. Os benefícios da propriedade Home Possuir sua própria casa é um investimento valioso. Não é simplesmente um lugar para viver. Há uma série de boas razões para comprar uma casa. Capital próprio. Sua casa tem valor, a menos que você destruí-lo. Se você possui uma casa no valor de 400.000, você pode trocar para baixo para uma casa de 300.000 e liberar 100.000 para investimentos, despesas e outras compras. Você pode bater em sua equidade de casas como alavancagem para pedir dinheiro emprestado. Você pode até obter uma hipoteca reversa, onde o credor lhe dá um cheque mensal que é pago quando a casa vende. Estes métodos arent para todos, mas eles estão certamente disponíveis. Personalização. Quando você alugar, você está sujeito a algumas limitações em sua propriedade. Afinal de contas, o proprietário é dono do edifício. Você não pode construir uma adição. Você não podem soprar paredes para expandir os quartos. Em alguns casos, você está mesmo limitado nas cores que você pode usar para pintura interior. Você não pode mesmo ser permitido ter um animal de estimação Locatários têm manutenção coberta por seu senhorio, mas esse benefício pode não valer a pena as limitações. Naturalmente, algumas associações dos proprietários limitam cores exteriores e decorações da jarda, eo zoneamento pode interferir com extensões, mas no general, você tem muito mais liberdade. Como uma advertência, não vá muito fundo em personalizar sua casa. Seus gostos podem mudar ao longo dos anos, então o que parecia uma boa idéia quando você comprou pode ser um aborrecimento uma década mais tarde. Você também tem que considerar a possibilidade de eventualmente vender a casa. Personalizar sua casa profundamente vai limitar o número de potenciais compradores. Você é seu próprio senhorio. Em outras palavras, você evita proprietários com problemas. Manutenção é sua própria responsabilidade, o que significa que você precisa para lidar com você mesmo, mas você evitar a questão do senhorio ruim. Youll nunca tem que esperar para que seu landlord para chamar seu exterminator ou seu plumber quando algo vai mal. As vantagens de alugar Home isnt propriedade sol e arco-íris. Alugar é uma opção de habitação viável para milhões de pessoas, porque ele funciona. Possuir uma casa isnt para todos. Aqui estão algumas das vantagens que você vê quando você aluga. Locatários têm um tempo simples com habitação. Eles não têm que lidar com os custos de fechamento, inspeções em casa e agentes imobiliários. Encontrar um lugar para alugar é muito mais fácil do que encontrar uma casa adequada para comprar. Como locatário, você não é responsável por mais do que a manutenção básica absoluta. Seu senhorio apreciará provavelmente se você puder mudar lâmpadas e fixar toaletes obstruídos no seus próprios, mas todas as edições principais são estritamente em sua cabeça. Você pode sentar e relaxar enquanto eles corrigir os problemas causados por edifícios de envelhecimento e anos de inquilinos movendo-se para dentro e para fora. Você não está trancado em um lugar como um locatário. O arrendamento típico dura apenas um ano, com a opção de continuar mensalmente ou assinar outro ano. Quando você compra uma casa, você está planejando morar lá por cinco anos no mínimo. Locatários têm fácil financeiramente. É fácil de orçamento em uma escala mensal. As taxas de pagamento e fechamento de uma casa pode estirpe até a conta bancária mais financeiramente sólida. Investimentos diversificados. Os proprietários tendem a investir a maior parte de suas economias na compra de uma casa. A maioria de seu patrimônio é comido pela casa, e se algo acontecer com ele, que a equidade pode ser perdida. Locatários têm mais liberdade para investir em poupança, ações ou até mesmo uma pequena empresa. Custos potencialmente mais baixos. O conselho de inflação acima pode assustá-lo sobre o aumento do aluguel, mas em algumas áreas, o custo de compra vai correr muito à frente da inflação geral. Se você mora na área certa, youll encontrar preços das casas a ser muito mais longe do que similares unidades de aluguer. Raciocínio defeituoso para evitar Há uma abundância de boas razões para comprar, e há uma abundância de razões ruins também. Grande parte dos conselhos que você encontrar on-line ou de amigos e parentes podem ser aplicáveis em circunstâncias limitadas - ou pode ser falsa por completo Renting parece mais barato. Comprar uma casa significa lidar com grandes números. Na realidade, alugando negócios com grandes números também. É uma diferença em unidades. A casa fatores no custo de toda a casa, ao alugar simplesmente conta o custo mensal. Use a regra de ouro acima (renda mensal multiplicada por 200) para lhe dar uma idéia do custo de propriedade da casa de alugar - ou inverter, dividindo o custo da casa por 200, para calcular pagamentos de empréstimo equivalente. Seguro desemprego. A segurança do trabalho vai nos dois sentidos. Na maioria das vezes, você não tem motivos para temer perder seu emprego, e é seguro comprar uma casa. Por outro lado, se você está ativamente em risco de downsizing ou ser demitido, você provavelmente deve adiar a compra de uma casa. Dito isto, é totalmente possível saltar para trás de uma perda de emprego em um mês ou dois, e você pode até mesmo acabar em uma posição financeira melhor. Não deixe que a vaga, infundada possibilidade de perder o seu trabalho impedi-lo de possuir uma casa. Pushy agentes imobiliários. Muitos agentes imobiliários tomar seus trabalhos a sério, fazendo o seu melhor para encontrar o melhor lar para um determinado indivíduo. Alguns, entretanto, estão simplesmente nela para a comissão. Esses agentes tendem a ser agressivo, levando você a comprar uma casa acima do preço que você pode pagar - ou dirigindo você para comprar quando você não deve comprar em tudo. Escolher o agente certo é incrivelmente importante, e você precisa ser capaz de resistir ao passo de vendas mais bem ajustado. Esquecendo a logística. Comprar uma casa significa comprar um local. Considere sua proximidade com escolas, lojas e trabalho. Se o comutar vai ser significativo, que pode ser uma fonte de estresse e despesas de combustível. Sobre e sob compra. É fácil querer uma casa que se encaixa certos critérios, como uma boa localização e um certo tamanho. Também é fácil descobrir que os critérios que você quer são mais caros do que você pode pagar. Overbuying é um problema comum, e deixa as pessoas mexendo com empréstimos e dívidas. Por outro lado, é fácil querer economizar dinheiro comprando comprar uma casa bem abaixo de seus meios. Se você comprar com a intenção de vender e mover em poucos anos, você precisa se lembrar que o seu pagamento e taxas de fechamento vai comer em suas economias e diminuir a quantidade de casa que você pode dar ao luxo da próxima vez. Sua o adulto coisa a fazer. Também conhecido como o efeito sonho americano, o desejo de comprar uma casa simplesmente porque o seu que as pessoas fazem quando adultos theyre pode ser prejudicial. A pressão dos pares para comprar uma casa não é uma boa razão para comprar. Comprar enquanto os preços são baixos. Ou, alternadamente, compre agora antes dos preços skyrocket. Sim, o custo de comprar uma casa vai subir durante a próxima década ou duas. Assim será o custo do aluguel. Assim também, espero, sua renda. Não se apresse em uma compra simplesmente porque você teme que você não será capaz de suportar mais tarde. Preparando suas Finanças Examinando as Finanças Comprar uma casa é uma decisão financeira enorme. Se você está pensando em comprar no futuro próximo, você precisa saber sua situação financeira. A última coisa que você precisa é mergulhar na compra de uma casa que você não tem idéia se você pode pagar. Corretores, agentes e vendedores de casa todos querem obter o máximo de você possível, então você precisa saber seus limites. A primeira coisa que você precisa fazer é fazer uma lista detalhada de suas despesas. Enquanto você está nisso, fazer uma segunda coluna e estimar o que essas despesas seriam se você possuía uma casa. Use dados mensais, para que você tenha uma equivalência visível fácil. O que você deve anotar Sua renda mensal esperada. Isso não deve mudar entre alugar e comprar seus impostos. Especificamente o que você paga em imposto de renda para a segurança social, imposto de renda federal e impostos statelocal Suas despesas de habitação. Você não terá uma figura para o aluguel para a propriedade da casa, mas você terá tanto o empréstimo hipotecário e impostos sobre a propriedade a considerar. Você também precisa anotar o seu seguro de casa, gás e electricidade, água, telefone, televisão, Internet e outros utilitários. Lembre-se que como um locatário você pode não ter que cobrir serviço de lixo ou manutenção, que são as despesas projetadas em casa própria. Da mesma forma, você precisará fornecer sua nova casa O custo dos alimentos é importante. Compras de alimentos e comer fora devem ser considerados custos de transporte. Empréstimos de carro, tarifas para transporte público, taxas de inscrição de veículo, custos de combustível, seguro e manutenção são todos importantes. Lembre-se de considerar possíveis locais de origem quando você calcula a despesa de gás de um trajeto, custos de manutenção e acesso a itens de Aparência de transporte público. Você não necessariamente comprar roupas todos os meses, mas se você média de um ano de registros, você pode chegar a uma figura mensal. Também incluem despesas freqüentes como cortes de cabelo e dívidas de limpeza a seco. Anote seu débito de cartão de crédito, estudante, auto, e outros empréstimos. Entretenimento. Os bilhetes de cinema e os aluguéis custam dinheiro, as férias custam dinheiro, os presentes custam dinheiro, os hobbies custam dinheiro, os animais de estimação custam dinheiro. Qualquer coisa que você gasta dinheiro em que poderia ser classificado como entretenimento deve ser adicionado aqui. A maior parte deste shouldnt mudança com uma nova casa, mas se você acha que pode, note que para baixo Necessário saúde e despesas financeiras. Se você tem um corretor de investimento, um consultor financeiro ou um contador, anote o custo. O mesmo vale para visitas regulares hospitalares e odontológicas, medicamentos prescritos em curso e despesas de seguro de terapia. Você observou alguns destes em outras categorias, assim que qualquer coisa restante deve ir aqui. Isso inclui seguro de saúde e seguro de vida Educação. Isso é importante se você ou seu cônjuge estão freqüentando a faculdade, ou se você está começando uma família e terá de financiar uma criança educação despesas da criança. Qualquer pai tem despesas para puericultura, brinquedos e outras despesas tais Qualquer outra coisa que você gasta dinheiro em que não cabem em uma das categorias acima. Se você puder, revise os registros bancários do ano passado para determinar tudo o que você pode ter gasto dinheiro. Além de: cortar seus gastos Se você nunca teve um orçamento antes, você pode estar percebendo que você gasta mais do que você perceber em frivolidades ou despesas que você pode minimizar. Reduzir suas despesas vai ajudar você a economizar para uma casa - afinal, cada centavo que você colocar em poupança ou um investimento vai ganhar muito mais interesse. Cada situação financeira pessoal é diferente, mas aqui estão algumas idéias gerais que você pode usar para cortar despesas. Extinguir dívidas. Levar um saldo de cartão de crédito, pagando o mínimo para empréstimos de carro e segurando dívidas de estudante estão custando-lhe no longo prazo. O interesse continuará a se acumular. Pagar mais a cada mês vai custar-lhe mais no curto prazo, mas suas despesas de juros vão cair. Ele também ajuda a minimizar o risco de um pagamento faltado ou uma dívida entrando em coleções, o que irá prejudicar o seu crédito causando penalidades, taxas de amperes mais altas. Se você tem dinheiro economizado, aplique-o Sua conta de poupança provavelmente tem uma taxa de juros mais baixa do que o seu cartão de crédito, então você está perdendo dinheiro carregando um equilíbrio. Reduza as compras frívolas. Todos têm algo que gastam mais do que deveriam. Talvez este seja caro roupas de grife, em vez de utilitários robusto ou fora de roupas temporada. Talvez o seu luxo não-essencial ou um hobby você pode cortar para salvar um pouco mais. Pode ser tão simples como um almoço diário em um restaurante de fast food custando 100 a cada mês. Ou pode significar substituir o café pré-fabricado com a sua própria máquina. Compre alimentos e outros itens a granel. A adesão a uma loja como Sams Club ou Costco cobrirá o seu investimento na poupança em massa de itens que você compra com freqüência. Os mantimentos são uma despesa enorme para muitos povos, assim cortando para trás ajudará significativamente. Comprar itens fora da marca para poupar alguns dólares e youll ser surpreendido e quão pouco impacto que tem sobre a sua vida. Lembre-se, os comerciantes gastam muito esforço para convencê-lo de que off-marcas e genéricos são de alguma forma pior ou prejudicial. Na maioria das vezes, as fórmulas e receitas são idênticas, mas o preço é cortado. Não cortar tudo. É tentador para cortar todos os hobbies, cada bit de takeout e cada luxo no interesse de poupar dinheiro. Isso quase nunca funciona. Quanto mais você slash, mais difícil é para manter o seu orçamento. Youll justificá-lo, dizendo que sua única compra de uma vez, mais e mais, e de repente você percebe youre gastar tanto quanto você era. Deixe-se espaço em seu orçamento para dinheiro divertido, um pouco a cada mês para comer fora, luxos e entretenimento. Não é uma coisa ruim para tratar a si mesmo, desde que você sabe que você pode lidar com a despesa. Mantenha seu orçamento. Mesmo se você é o tipo de pessoa que economiza tanto quanto possível, um orçamento ajuda. Na verdade, um orçamento é uma das peças mais essenciais de informação que você tem se você está olhando para comprar uma casa. Os orçamentos não são uma ferramenta para os que se gastam demais se limitarem, como uma dieta. Theyre uma ferramenta para construir a consciência financeira. Estabelecer poupança Definir um objetivo de poupança é intimidante. When youre putting together a budget, and you decide you want to save 200,000, realizing you can only put away 200 a month and figuring it would take 80 years to reach your goal is intimidating. Thankfully, its rarely as shocking and depressing as that example. Set a goal. Most people should have two primary long-term goals: retirement and a home. Its hard to choose figures for these goals, especially in your 20s and 30s. While you should probably consider buying a home eventually, think about retirement. If you think you might enjoy working even when youre 70 or 80, you dont necessarily need to save specifically for retirement -- and even then, not an early retirement in your 50s and 60s Establish a retirement account -- or not. Retirement accounts like 401Ks are amazing tax breaks, if you can match your employer contribution. They also lock your money in place until a designated age is reached. You can cash out earlier, but you typically get hit with a significant fee. Save an emergency fund. Now that you have a budget, you know how much it costs to maintain your lifestyle. Try to have at least three months worth of your expenses set aside. If you have a particularly at-risk job or a variable income, it might be better to shoot for six months or more. The idea is that, if you suddenly lose your job, you dont have to stress out about affording surviving while you try to find new employment Save for the future. Maybe you want to go back to college to further your career. Maybe you want to build a family and send children to college. Either way, you need to save for education. Some areas offer interesting educational savings accounts, so investigate local universities and financial institutions Save for a business. This isnt for everyone, but if youve ever thought you might want to start a business, you should save for the start up costs Protecting the Future Insurance is expensive. Insurance is also critically important. If youre living without insurance, youre taking an incredible personal and financial risk. Here are some cautionary examples. Disability: What if you dont have disability insurance and an accident costs you the use of your legs Costly therapy, slashed work income and the potential legal fees all cut into your savings. Home: What if you live in Kansas and lack storm coverage Even if you dont live in a particularly tornado-prone area, a freak storm can blow up at any time. A tornado tearing your house -- or your whole neighborhood -- apart will tear your savings apart just as easily. Life: An unexpected illness, a freak infection, a bad accident. Anything can cause the loss of a loved one, and the lack of proper life insurance means you wont be able to compensate for their lost income. You might be forced to sell a house at a loss just to move to somewhere you can afford. As with any major purchase, shop around when you search for affordable insurance. Gathering quotes and balancing coverage is an art form all its own, so take your time and make sure youre properly insured. Knowing Your Credit Possibly the largest factor influencing your borrowing cost is your credit rating. You need to learn how to check your credit report, know what your credit score means and discover how to fix any errors. Your credit score is a number that indicates your financial responsibility. Lower scores mean one of two things. Either youre virtually unknown to the credit bureaus or youre financially irresponsible. Both of these can be fixed. A higher score indicates that youre a lower risk investment for a lender -- youre more likely to meet their expectations. Whats In Your Credit Report Your credit report is a record of your financial history, but it only contains certain types of financial information. If youre the kind of person who uses cash for everything, youll find you have little record of it in your credit report. On the other hand, frequent users of credit cards will have a long and detailed credit report. What does the report contain The types of credit you use. This includes bank loans, credit cards and other forms of credit How long your financial accounts have been open . Having a credit card for years and a long, established bank account will build a reputable credit history. If your bills are paid on time. Overdue bills are reported to the credit bureaus and can reflect negatively on your report, especially if youre a frequently late. Identifying information. Your credit report is a personal history, so it includes your name, address, soc. number, birthday and employment information. All of this information is there for identification, and is not used in figuring your score. You wont be penalized for the type of job you have or the location of your home Each individual line of credit is reported. Lenders and credit companies report any account you have open, the type of account, the date you opened, your credit limit and your balance. They also note your account history and, if you closed the account, that date as well. Previous inquiries into your credit history. Each time you apply for a loan, the lender asks for your credit report. The record only stretches back two years, so all that searching you did for an auto loan four years ago wont be relevant. It will also list recent requests you make for your own report Any records related to overdue accounts sent to collections. All of this information is a matter of public record, and is simply collected in one place for lenders. This includes bankruptcies, foreclosures, lawsuits, wage garnishments and court judgments Why Check Your Credit Report Seeing a copy of your credit report is very valuable for financial awareness. It also allows you to identify and correct any errors on the report. Even in the age of computers, clerical errors are common. If someone else defaults on their loan, and their social security number is a digit away from yours, it could be misreported on your report. You may find that some information is incomplete, potentially due to using a slightly different name than your given name. Its possible that other errors occur, leading to misreported late payments and other issues you might otherwise never notice. Your credit score and report are held by three different companies. These companies are Equifax. Experian and TransUnion. You are entitled to pull your report from each of these companies, once per year, for no cost. You can streamline this process by visiting the official credit report website set up by the U. S. Government for claiming your credit report. That site is AnnualCreditReport . In addition to your free report, you are often eligible to receive another free report if you are denied for employment, housing or credit in the past 60 days due to your credit rating. You can also purchase an additional report if youve already used your free report, generally for a low fee. Beware of sites that claim to offer free credit reports. Many of these sites pull your report free and then charge you for the service. Some will attempt to lock you into a contract of some kind for credit monitoring or other services. You do not need these services under any circumstances. Factors Impacting Your Score With three different companies recording your financial history based on incoming reports, there are going to be errors and discrepancies between them. This means that your credit score will vary by a few points from one agency to the next. Each agency figures the score differently, so a discrepancy is no cause for concern unless it is more than a few points. How do these companies come up with your score The process is decidedly complex. Your score counts every factor and category of reported information. No single piece of information determines your score itself. Every factor is weighted differently. The weighting of each factor depends on your own personal credit history and the company measuring it. It is impossible to identify a most important factor for this reason. Your score only includes what is in your credit report. The credit bureaus do not know or care about external factors. However, a lender may ask for additional information in order to make their decision, so your credit score is not the sole determining factor of your potential rates. Positive information helps, negative information hurts. Late accounts will lower your score, but a visible display of effort catching up and restoring your accounts will raise it. Raising your score more than a few points takes time. If you want to buy a house next month but your credit score is too low for the loan you need, you wont be able to make up the difference in time. Building credit is a long process. Remove debt collection notices is possible, if you negotiate with the collections agency. This is a complex process that has little bearing on housing purchases, but is worth researching if you have unpaid debts in collections. All of that simply serves to illustrate that your credit is complex, but how much of it is of practical use You know what goes into your credit score. How do you improve your credit scoreBe on time. Paying your bills on time shows a demonstrated history of reliability, which is important for lenders who want to be paid for their loans. Get current and stay current. The longer your history of being on-time, the more beneficial it is. If you missed some bills or two a few years ago, it will be much less relevant to a lender than if you miss a couple every month. Take your time. Building credit is a long process that wont happen over night. You need to work down outstanding bills and loans, keep your accounts up to date and avoid the other negative factors. Keep credit balances low. Using credit cards builds your history, but it only grows your score when the balance is low. Carrying a high balance tells lenders that youre close to the edge. Extinguishing debts will bolster your score significantly, though it may take some time to factor in completely. Dont open and close credit cards. You gain a benefit from having credit cards with long histories. Opening a credit card for a quick use and closing it again wont affect your score positively. In fact, its possible that rapid opens and closes will lower your score. Closing an account doesnt remove it from your credit history, after all. Be focused when searching for a loan. Frequent inquiries into your credit history are lumped under the search for a single loan, if theyre within a small enough time frame. If they stretch out too long, your score interprets it as frequent denied loans, which hurts your score. Dont worry about credit inquiries. Most credit inquiries are ignored by the credit bureaus and lenders alike. Additionally, when youre shopping for a loan, recent inquiries dont matter. Any request made in the previous 30 days is ignored for the purpose of a new request. What Affects the Cost of Housing Housing prices fluctuate from year to year. Sometimes they rise and sometimes they fall. The general trend is upward, but the recent collapse of the housing bubble shows that the unexpected can cause a drastic fall. Housing prices are still depressed, but they are on the rise. What factors influence the price of housing How can you guess whether prices will rise or fall Here are the major factors that contribute to housing costs. You can research these factors online or with your local city archives. This historical data will give you an idea of the trends, upward or downward, that a particular area faces. This helps you decide whether to jump on a purchase or wait a few years for further decline. Jobs. If you were to move from your current location, what would be a deciding factor Chances are your answer is a job. Most people move to find a job. The presence of jobs, the growth of the job market and the diversity of available jobs are all important. A place like silicon valley is great for IT professionals, but other professionals may avoid the area. If, somehow, the computer field collapsed, silicon valley would suffer a housing collapse. Job quality is important as well. An area with high earning jobs will see higher housing prices than an area where fast food jobs are the norm. Areas with incoming industries with high growth will experience increasing housing prices. For the reverse, simply look at Detroit. When the auto manufacturers went overseas, the Motor City collapsed Housing availability. You cant buy a house if a house doesnt exist, after all. If there is a low density of housing, and no one wants to sell, no amount of saving will get you a house in that area. When a house does become available, it will command a premium. On the other hand, an area with a large amount of vacant houses will see lower housing prices. People building suburbs and condominium complexes will drive down housing prices in the area. Look for a vacancy rate of around five percent for a housing market with prices on the rise. A vacancy rate around ten percent is more likely to be a buyers market, where you can negotiate a nice low price Listings versus sales. An area where a large number of homes are listed for sale but few of them are actually selling creates a buyers market. Sellers are desperate to sell their homes, so buyers are free to negotiate a lower price for an ideal location. Conversely, an area with a falling number of new listings indicates high demand for the housing in that area. Few listings and high purchase rates lead to a sellers market, where the buyer has much less room to negotiate and prices will rise Comparing rental rates. Investigate local rental prices. While youre at it, figure how much it would cost monthly to actually own that property. Ideally, you will buy when the cost to own is roughly the same as the cost to rent, if not cheaper. Finding a Deal on Housing Negotiation is a complex task. You need to consider a whole range of factors that will influence the sale price of a home. Looking for deals is simply the first step. Beware the discount offers. Real estate agents and private sellers sometimes advertise that a home is being sold for 50 percent off or at a huge price reduction. The question you should ask yourself is why the price was reduced that much. Was it simply overpriced to begin with, and the reduction is designed to draw in new buyers Is there a major defect in the home that makes it less attractive to buy Chances are a house with such a discount will have some compelling reason to avoid it. Identify ways to add your own value. You might not be able to get a great deal on the house itself, but if you can identify a few ways to add value, youll be able to boost your equity quickly. This can be as simple as a fresh coat of paint and some new flooring. It can be as complex as a large addition or remodel. Of course, if youre pushing your budget to the limit to see the house in your price range, you need to be wary about investing in improvements you cant afford. Buy when buyers are scared. A depressed housing market wards people off. Why would they want to buy a house when house values are falling Smart buyers know that the price will improve over time, especially with a little work. Think of it like shopping for discounts at a retail store. Figure how much the monthly cost of buying the home would be, and look for a cost thats in line with or lower than local rental costs. Look for the beginnings of an incline in home sales, which indicates that prices have reached their bottom. Of course, look for any improvements in the job market, which will attract more buyers. Scout the sellers. A motivated seller has a reason to sell the house, and will strike a deal to get it done. Some houses are owned by banks or managed by real estate agents with a lower motivation to sell. These sellers will try to get the best sell prices. Youre looking for sellers who need to move, need to downsize or otherwise want to get out of their home as soon as possible. Theyll cut you a discount just to be rid of the home. Of course, do a home inspection to make sure theyre not running from a critical flaw. Pick a good neighborhood. Its rare that a good neighborhood turns into a slum. Good neighborhoods tend to stay good, and that means a solid level of housing prices. Drastic changes to the area or the job market can change this, of course, but you cant hold off just because you want to predict the unpredictable. Picking the Perfect House Shopping for the perfect vehicle is touch. Picking the right job is extremely difficult. Deciding the best way to spend your evening may take all night. What does that say about picking the place youll live for a decade or longer, up to the rest of your life You need to consider a wide range of factors before you even look at a single property. Unless youre fabulously wealthy, youll have a budget limiting the places you can life. If you can only afford a 300,000 home, youre not going to find a home in the heart of a city where property values start at 750,000. On the other hand, you dont want to start your search with average property values of 50,000. The quality of the neighborhood goes a long way towards setting its value and sale price. What characterizes a good location The local economy. A strong economy means a good area. A poor economy means a maze of sale signs and a bunch of unemployed neighbors Access to amenities. If you like to bike, does the area have access to trails and bike paths along roads If youre a sports fan, can you easily access arenas and stadiums If youre an outdoorsman, are you close to a lake, river or park Schools. If youre thinking of raising a family any time in the next two decades, consider your access to schools. More importantly, consider the quality of those schools. Expensive private schools will cater to more expensive areas, while the lowest income neighborhoods are relegated to under-funded public institutions Crime rates. Everyone considers crime rates, and for good reason. High crime rates lower property values, not to mention adding the risk of becoming a target of those crimes yourself Types of Homes The style of architecture you prefer may not have a huge effect, but the type of building certainly does. Here are the various types of residences you may be looking at, and their advantages. New construction detached homes. These are the houses that were built for sale. No one has lived in them before you. They are full of modern amenities, built to satisfy the modern buyer. Theyre built up to modern codes as well, meaning theyre not going to be full of lead paint, asbestos, faulty wiring and ancient rodents. They tend to have high energy efficiency, and many may come with green amenities. Of course, new construction is only as good as the builders. Always get a home inspection, even on new construction. You never know what problems are hidden by a fresh paint job. New construction can be misleading. Typically, youll visit a suburb full of identical homes, and youll be taken through a model home on tour. Its beautiful, fully furnished and laid out professionally. The home you end up buying has no furniture and none of the bright, attractive colors. Prices are also less negotiable on new construction. You dont have leverage of a motivated seller or a poor appraisal. Used detached homes. These homes have been owned and lived in for years before you. It might be new construction from last decade, or it might be two centuries old and adapted to new technology. Used homes are typically less expensive, because they lack significant construction labor expenses. Youre also able to negotiate with the seller and use various sources of damage as leverage. Of course, that means you need to handle that damage yourself. Ideally, a used home wont have large maintenance and remodel tasks to take care of before you move in. Used homes are also, well, used. They may have old damage that was hidden from inspectors and old residents. It may be laid out in a form over function design -- high ceilings that raise your heating bill as well, old insulation that has lost potency over the years, etc. Floor plans might not quite work with modern appliances, and you may find yourself using the word compromise more than you prefer. Condominiums. a condominium is a single building with multiple units. Picture an apartment building -- multiple units with similar layouts in the same attached building. The difference between an apartment and a condominium is the ownership. A landlord owns an apartment building and the tenants rent from them. In a condominium, each unit is owned by the person inside it. Condos are generally cheaper than detached housing, so you can get more condo for the price of a detached home. They also cost less to maintain, since external maintenance tasks can be split amongst the other residents. They often come with other amenities as well, such as pools and gyms attached. Like apartments and dorms, however, condos offer a lack of privacy. Youre only separated from your neighbors by thing walls and ceilings, which can lead to quite a bit of noise. For maximum privacy, hunt out a top floor corner unit, but expect a premium for the privacy. Condominiums also have complex legal, financial and social ramifications. If a legal issue occurs, you have to deal with property lines, shared space rules, other tenant concerns and a whole labyrinth of legal rulings. You may find odd restrictions on your condo usage or fees. A few rules are fine, to regulate noise and safety. Too many rules, however, and you may feel more like a prison than a home. The Mythical Fixer-Upper The fixer-upper is a frequent joke among sitcoms. No sooner has the buyer signed the contract than the walls fall in around them. Fixer-upper homes are a good way to get more house for less money, but they can backfire easily as well. What benefit does a fixer-upper offer Well, first off youll end up in a nicer home than you would if you maxed out your budget on a pristine home. You essentially sacrifice your time in place of your money. Youll be in complete control of your decorations, from paint to layout. Youll also increase the value of your home -- assuming the work is done right, of course. Rule number one of shopping for a fixer-upper is get an inspection. Lets reiterate: get a home inspection. Your home will have problems, and you expect that. What you dont want is to find the insulation you wanted to replace hiding structure flaws that make the home completely unsafe. Hidden fire damage, among other issues, can and will condemn a house you just bought. Old, hidden lead paint or asbestos can cost a fortune to remove if you werent expecting the costs. Be wary of contractors. At the same time, be wary of doing all the work yourself. If you have the skills and experience to renovate your home, by all means, take the time to do it. On the other hand, if you dont, hiring a contractor is a sure way to avoid the issues that doom so many fixer-uppers. The three mores of contractors are simple. It will be more disrupted than you plan, it will take longer than you plan, and it will cost more than you plan. This goes whether youre doing the work yourself or youre working with contractors. Categories of repairs. There are three types of work you might end up doing on a fixer-upper. The first is structural repairs. This is major damage or old work that you need to bring up to modern code. Roof work, foundation work, new wiring and plumbing are all variations. They cost a lot and do little to add value to your home. Unless you have money to burn, avoid a home where you need to focus on structural renovations. If you do get a home with structural repairs to perform, see if you can get a credit with the seller for doing the work. Renovations are the main value increase. Remodel a kitchen or a bathroom and add value instantly. Modern appliances, new walls, fresh windows and counters all add value. The more functional and valuable the remodel, the more your home benefits. Cosmetics are the third type of repairs, and include everything from new carpets to landscaping. Some will add value, some will add curb appeal and some are designed to attract buyers. The Rise of the Foreclosure The housing bubble burst, and that left banks to foreclose on thousands of homes. When you sign a mortgage, youre signing the house as collateral. If you fall behind on the contract, the bank can repossess the house. This has happened widely across the country over the last several years, so you often find foreclosures for sale. Foreclosures have the advantage of a motivated seller -- the bank wants their money back -- and a low asking price. On the other hand, there are a number of risks. Physical issues. Some people are very unhappy when their home is foreclosed on by the bank. Some of these unhappy people will tear the house apart on their way out. It might be splashes of paint on the carpet and holes knocked in the drywall. It might be broken windows and plugged faucets letting water run. It might be a complete strip of anything metal to sell for scrap. Most of the time, lenders will not allow an inspection prior to purchase of a foreclosed home. You are, more or less, gambling on the quality of the home. In some cases, you may end up with a quality fixer-upper. In others, you may end up with little more than a trash heap. Financial issues. Some people rush to sell their home before the foreclosure process finishes. They may lie about the remainder owed to sell quickly. They may lie about any financial detail to get it out of their hands. If youre not careful, you get stuck with the bill. Personal issues. Rarely, the previous foreclosed tenant hasnt quite moved out. Sometimes, theyre very set on staying in place. Rarely, theyre armed. Once you own the property, this becomes your problem. Its rare, but its not impossible. All About Home Loans What is a mortgage The word is thrown around constantly in terms of house buying, but it is rarely explained. Thankfully, the definition is simple, as it is a type of loan designed to assist you in purchasing a house. When you consider your income and your local housing market, its easy to see why a loan is necessary. A house may cost 100,000, or 500,000 or even 1,000,000. Regardless of cost, chances are you dont have that kind of cash sitting under your mattress. Mortgages allow you to leverage your income to buy a house in a series of monthly installments. The monthly cost is the combination of the principal and the interest. The principal is the original amount you borrow. A 100,000 loan has a 100,000 principal. That same loan at a four percent interest rate has roughly 33,000 in interest costs over 15 years or 72,000 over 30 years. The exact amount varies based on interest rates, the amount you pay each month and the term of the loan. There are primarily two types of mortgage: fixed-rate amp adjustable loans. They each have their own advantages and disadvantages. Fixed-rates are simple. You have a set principal and a set interest rate. The rate never changes for the term of the loan. It starts at four percent day one of year one, and stays at four percent for the remainder of the term. Your monthly payment never changes. Youll never be surprised by a rate hike. Adjustable-rates do not have a fixed interest rate. Instead, the rate changes based on what other rates for other financial transactions are doing. If the national rate is on the rise, chances are yours will rise as well, and youll end up paying more. On the other hand, if national rates fall, so till will yours, leading to a lower monthly fee for a time. Hybrid mortgages are those loans that start out with a fixed interest rate and then, after seven, ten or another period of years, convert into an adjustable-rates. This offers an advantage to short-term homeowners looking to convert houses or discharge their debt while the rate is low. Otherwise, homeowners may be surprised when it converts into an adjustable rate and the monthly cost rises. Interest-only mortgages are the closest a legitimate mortgage can get to fraud. For the first few years of the term -- the same sort of periods as in a hybrid note -- the monthly cost is very low. This is because it only goes towards paying accruing interest. Once the period runs out, the full principal is still owed, and no progress has been made over the previous years. Monthly payments skyrocket and most homeowners are unprepared. Beware of this reset, and make sure you can handle it before you sign up for one. The Subprime Bubble In recent financial news, specifically in the late 2000s, the housing bubble burst. This was mostly caused by the increase in subprime lending. Lenders for years had been increasing the amount of loans they extended to people who perhaps should not have qualified for those loans. This was in part due to extensive government incentives and subsidies for companies that helped people find housing. Jobs were plentiful, housing costs were rising due to the prevalence of new buyers and everything looked strong. The crash happened in the late 2000s when market prices began to falter. The heaviest hit areas were those full of people holding subprime notes. Monthly interst costs jumped, borrowers defaulted, jobs declined and every factor leading to a strong economy dropped. The cycle continued in a spiral of depression that led to the current recession. Thankfully, government policies are changing to help avoid this issue in the future. Which to Choose Fixed or Adjustable Fixed-rates are stable. The monthly cost is fixed, the rate is fixed, the principal is fixed. There are no surprises. You always know what your amount due is going to be, and you have an easy time budgeting for that each month. While that stability can be quite beneficial, these often have higher starting rates than adjustable loans. This is because lenders dont want to get burned if the economy causes rates to rise. This happened in the 1980s, where many holders of 6 fixed-rates cried with joy while the Federal Funds rate shot up to 15 percent. The opposite is also true, of course. If youre locked into a six percent interest rate and the market decides interest rates will fall to four percent, youre still stuck with the higher rate (unless you refinance). With a fixed-rate mortgage, you are likely signing on for either a 15 or a 30-year term. Lenders will charge you a higher interest rate the longer the term. This is because a longer term gives interest rates more time to rise. It also gives you more time to encounter financial hardship and default. Adjustable-rates are the banks way of maximizing their profits while following the market. Theyre volatile, because they change with the level of interest prevalent in the wider market at large. If the market rates rise, so do yours. If it lowers, the same may happen to you. What makes adjustable-rates attractive Most of the time, they start at a lower rate than a fixed rate mortgage. A fixed rate may start at seven percent, and an adjustable loan for the same principal and term may be a mere five percent. Lower interest rates also potentially allow you to qualify for a larger loan. If you have a budget of 150,000, borrowing at six percent will give you a smaller principal than borrowing at four percent. If youre buying your home while rates are high, your adjustable-rate may starts off with a lower than market rate. Then, if the market rates drop, so too will your relatively-low rate. This allows you to enjoy lower rates without refinancing to get them. Its also a benefit for those cases where you may not qualify for refinancing. Adjustable-rate mortgages have one safety against rising rates. They typically have a clause that identifies the maximum possible rate for the loan. Even if the market rises beyond that cap, your rate will remain capped. You can talk with your lender to identify what this cap is and what the maximum possible payment would be, which helps you plan for the worst-case scenario. Adjustable-rate loans also typically have a periodic adjustment cap, which limits the size of an individual rate jump. How often does an adjustable-rate mortgage adjust Typically, the change takes place once every six months or once a year. Some rare loans will adjust monthly, which can be a warning sign of something you want to avoid. Your lender will send you a notice of the coming adjustment, how its figured and how much youll spend each month. Before you consider signing for adjustable-rates, consider these factors: You need a monthly budget that can withstand a higher monthly payment without compromising your other financial goals. Dont sign for adjustable-rates if the low introductory rate is the highest you can handle. Make sure you have the financial reserves to cover you in the event that your job is lost. Six months of monthly expenses is ideal with adjustable-rate mortgages. Can you afford the worst-case scenario, where the interest rate hits the highest possible rate allowed If youre combining your finances with your spouse or a family member, will you be able to handle it if they suddenly lose a job Financial hardship is not an acceptable excuse for a financial institution Consider whether youre starting a family. Having children costs money, which will lower your available funds, reducing the amount you can afford each month Not knowing what your rate is going to be in the coming months is a lot of stress to handle. Make sure youre able to take on the psychological strain of an adjustable rate Loan Terms Mortgages typically come in two term lengths: 15-year and 30-year. Like the different rate categories, these have their advantages and disadvantages. 30-year mortgages typically have lower monthly payments than a 15-year term with the same principal. This makes sense, after all, because you have twice as long to repay the same amount of principal. Your monthly cost wont be exactly half, because of the interest accumulation, but they will be lower. The lower payments a 30-year offers allow you to save for other financial goals, like retirement. Even if you can afford the higher monthly payments of a 15-year tern, you may want to take the 30-year term and apply the extra money to retirement or other savings. If you can handle the higher payments of a 15-year and still apply money to retirement or other savings, by all means, grab a 15-year note, as it allows you to accumulate home equity much faster. Youll have your house owned outright in just over a decade and a half, which can be an awesome situation for someone in their 40s or 50s. Of course, just because you have a 30-year note doesnt mean you have to pay the minimum. You can just as easily send in more than the minimum each month. Finishing a 30-year in 20 or 25 years will save you a bundle on interest. Extra payments early in a loan will lead to greater savings as they prevent some of the associated interest from accumulating for decades. Points amp Fees Lenders charge fees for doing the research and paperwork to prepare your loan. These are typically identified as points. A point is an up-front fee in exchange for access to better rates. One point is equal to one percent of the principal of the loan. For a 100,000 mortgage, that is 1,000. Typically, a lender will charge you more than one point. Points are not all bad. For fixed-rates, the more points you pay up front, the lower your ongoing interest rate. Conversely, if you cant pay more than a single point or two, youll find higher rates. This might be the difference between 7.25 and a 7.75 percent, but its still significant -- especially for high principals over long terms. Lenders will charge other fees as well. Before you sign, ask for an itemized list of these fees. This will help you negotiate a lower signing fee. As always, beware any deals that claim to have no fees. Lenders want to make money, and if they arent doing it by charging you fees, they will by charging greater interest. Some fees you might see are application and processing fees, credit report fees and appraisals. Application fees tend to run between 500 and 1,000. Most lenders charge this fee regardless of whether or not youre approved for the loan or you accept their offer -- its a test of sincerity. Some lenders will waive this fee if youre approved and accept their offer. Credit report fees are relatively minor, typically less than 100. This is simply a way for the lender to obtain a current copy of your credit report. Make sure youve pulled it yourself before you waste your time -- and the lenders time -- with a low score or problematic report. Youll lose your fees and youll end up declined. Appraisal fees cover an inspection of the house youre looking to buy. This helps prevent overpaying for a house with a serious fault. This is a protection for you and the lender. You can factor repairs into the homes value amp the lender knows the collateral is good. The lender risks buyers running off without paying, leaving them holding the property. If the property value declines and you overpaid to begin with, the lender takes a serious loss. An appraisal fee can run from 300 to 1,500, depending on the scale and complexity of the home. 20 is a common down payment. A higher down payment is enticing to lenders and can help get you approved. Putting less down is cheaper upfront, but you need to do some convincing to get it. Additionally, if you are paying under 20 percent, you will be required to get Private Mortgage Insurance. PMI is a type of insurance specifically designed to compensate the lender if you default while having paid a lower-than-usual down payment. Picking the Best Loan The hardest part of picking a loan is finding all the possible quotes. Youll need to know your credit score and financial situation, as mentioned in all the previous talk of financial awareness. Shopping around for home loans is the same as shopping for a good auto loan or good insurance rates. Call lenders, offer them your information and ask for a quote. You can do plenty of research with the power of the Internet at your disposal, but some lenders may not have a significant online presence. You may want to do some good old-fashioned legwork for this one. What characterizes a good lender A straightforward attitude. Good lenders will explain their terms in plain English. If they start confusing you with technical terms or disregarding clauses as unimportant without explaining them, you should consider it a warning sign Local approval. Good lenders can approve your loan there in the office. They wont have to send away and wait for corporate approval. This is an even stronger indicator now with a global computer system Market knowledge. Good lenders will know the sort of properties that are available in various areas. They will know the sort of property youre looking at, and they will warn you about potential surprises Competitive nature. Lenders are businesses. Make them compete for your business. If theyre set in their office and secure in their position, be wary. Its possible they have the best offer and know it, but its also possible theyre using their confidence to make you believe that when a better loan is available down the street Nationally licensed. As of January 2011, loan officers must be licensed. Avoid any lender that doesnt have a license Remember, even if you have a good real estate agent, you dont need to take their advice for a lender. They might know the best deals in town. They might know the best deals that were in town 20 years ago. Investigate their suggestion, but dont take their word as gospel. The same goes for brokers. Brokers attempt to work with a wide selection of lenders to get a good deal, but they cant work with everyone. A good broker will get you the best deal, and they will charge for it. Its a steep price, but its worth the saved time and hassle of shopping for your loan alone. Typical Financing Problems When youre saving for a home, checking your credit report and working with an agent to find a property, the anticipation builds. Your dream of home ownership is almost here. Its so close you can feel it. Having the rug pulled out from under you at this stage in the game is incredibly depressing and likely means you have to put your dreams on hold. To help avoid this, here are some of the most common problems and how to handle them. Low income. If you dont have enough income, you wont be able to get financing. If the lender feels youve stretched yourself too thin, youre going to face a declined mortgage. To handle it: Have patience . Unless you can immediately get a promotion or a new, higher paid position, chances are it will be a while before you can demonstrate a higher income Increase your savings amp down payment offer. You can increase your chances of approval by offering 25 or 30 percent instead of the typical 20 percent. Cosign. A wealthy benefactor, be they friend or family, can drastically improve your chances of approval. Of course, you have to trust them with your financial situation, and if you default, they are on the hook Credit history issues. If you happen to have a number of outstanding debts, be careful with your application. A high credit balance and outstanding loans are red flags for lenders, especially if youre maxing out your credit cards each month. Errors on your credit report may also crop up, though ideally you will have scanned your credit report and fixed any errors before you apply for a mortgage. To cope:Work to clean your credit report before you apply. Shop around for lenders who understand youre a person rather than a credit score. Some lenders are more understanding and flexible than others, willing to give you the benefit of the doubt Cosign. Again, a cosigner will improve your chances of approval. Lower your expectations. If you have a lot of debt and not a lot of income, you might simply be looking at a loan out of your grasp. Shooting for a smaller loan may not get you the home you want, but it could be the difference between approval and denial Trim your expenses and apply the savings to your debts . Minimizing your debts in advance of an application will help you get approval -- especially since it demonstrates that youre willing and able to adjust to meet your new obligations. The appraiser claims a lower value than your offer. It can be a shock to see a professional appraiser set the value of your future home lower than you offered. Thankfully, even reaching this step shows the lender and the seller that youre interested. You can use the appraisers estimate to negotiate a lower purchase price. Of course, make sure your appraiser is a local who knows local prices, otherwise the estimate may not be fitting. Documentation When youre applying you need plenty of information. If you want the process to go as smoothly as possible, try to have all the documentation available. This helps you avoid running back and forth between homes, banks, deposit boxes, computers and other data stores to find the paperwork you need. Here is a list of what you should bring. The sales contract for the home youre looking at buying Paystubs for the last 30 days, or longer if youre self-employed. Make sure these are originals, not reproductions The most recent two years worth of W-2s and tax returns Residence history for at least two years Three months of bank statements and investment statements A diploma or transcript if youre an active or recent student A sales contract for your current home, if youre selling Information for your landlord if youre renting Pink slips for vehicles less than five years old Any paperwork relating to bankruptcy, social security benefits or disability As you can see, banks will ask for virtually anything relating to your financial history. They may ask for documents not on this list. If possible, call them beforehand and ask what paperwork you need to gather. Most lenders will have a list they can provide. Building Your Team Building a Home Buying Super Squad As you may have gathered, buying a home is a huge amount of work. Youre not the only one working on it, though, and you can build a great team of people to make the process much easier. Here are the team members you should find. Yourself. Without you, the team doesnt exist. They dont have a purpose. You have to pay them, you have to direct their work and you have to be satisfied with the results. The real estate agent. This is the person who knows the area. They hunt down the best properties that suit your needs, connect you with the seller and get the deal rolling. They may work for an agency, or they may fly solo as a broker. The lender. Without a mortgage, chances are you wont be buying a house. The inspector. A property inspector should be aware of local house prices as well as the various construction problems. Finding problems before you buy is their job, and they can save you thousands. Advisors. Even if you dont keep one on retainer, visiting a financial advisor will help you determine how much house you can afford, how much you should cut back your personal spending and how to navigate the tax structures that come with home ownership. The escrow officer. Escrow is a service that holds money between a transfer of goods from one person to another. Neither side knows the other, so neither trusts the other. You give your money to escrow, and they make sure you get either the property or your money back. Finding a Real Estate Agent Real estate agents come in two flavors: the buyers and the sellers. Sellers agents work for the seller and try to convince you to buy. Buyers agents work with you and try to convince the seller to sell. These days, agents work for both sides, and get a commission from both. You can use this to your advantage. Offer the agent a bonus if they can get you a cheaper price, and watch them work for you. Real estate agents are paid if you buy. If you dont, they get nothing. What makes a good agent They work with you, not for you. Agents should offer options and advice, educating you about your options. They should not, ever, make decisions for you. They dont try to do it all alone. Agents know when they need expert assistance, usually from an inspector or other team member. A good agent specializes in a certain property type in a certain geographical area. Specialists have a better working knowledge of what they can do for you. Good agents work full time. Part time agents working from their couch on nights and weekends probably wont have the energy to dedicate to your dream. Good agents have their own contacts. You shouldnt need to connect them with the other members of your team -- they should offer ideas. You will probably have to interview a few agents before you select the perfect one. To help with the interview process, here are some sample questions. Are you full-time What agency do you represent Tell me about your office How long have you worked in real estate as an agent What kind of license do you have How do you keep current in your industry Do you have a good grasp of my needs as a buyer What do you think of (the name of another agent youre interviewing) How many buyers and sellers are you working with right now Do you work in partnerships or on your own What should I know about your firm Do you have references You can also ask plenty of questions of their references, particularly about the performance of the agent and their shortcomings. The Rest of the Team To find the right lender, call around. This was extensively covered above. To find a property inspector, check local listings and real estate publications. Inspectors need to be public to be hired, and they need to be hired to be paid. This means you should have no trouble finding a home inspector and, more importantly, will have a public source of feedback to identify if the inspector is adequate. To find an escrow officer, talk with the seller and the real estate agent. Escrow can be handled by a lawyer, bank, broker or dedicated firm. Either way, their job is simple, and they are not hard to find. Finding financial advisors is a matter of preference. If youre secure in your budget and cost estimates, you dont need to worry about contracting a financial advisor. At the same time, if you already have one on retainer, you dont need to find one. If you choose to go with a financial advisor, ask them many of the same sorts of questions you did when you interviewed your real estate broker. Once youve put your team together, youre ready to start the hunt. Negotiating Price amp Terms Tips for Negotiating Negotiation is a fluid process thats all about leveraging your advantages, controlling your emotions and making a deal. Control yourself and your emotions. We all know about the grocery store impulse buy -- imagine if you did the same with a house. Youd be out a heck of a lot more than a 1.50 candy bar if something went wrong. Keep your emotions at arms length and approach every aspect of the deal rationally. Take your time Theres virtually nothing pushing you to close the deal. The seller may try to pressure you to make a decision, but dont fall prey to faulty judgment because you were rushed. Be realistic. Lying to yourself about your finances is a great way to get into a lot of debt very quickly, ending up with a foreclosed house or bankruptcy. Be realistic about what you make, what you save and what you can afford. Dont shop for an ideal house above your means. Pick your style. Some negotiators go into it wanting to win. You win, the seller loses. This ruthless, cutthroat negotiation style can get you a great deal. It might also close off certain avenues that might have otherwise brought you to an ideal home. The other tactic is the compromise the ldquoeverybody winsrdquo style. Make the best of the situation for both sides, cut deals that benefit both and work in all market conditions. Cutthroats are tolerated cooperatives are assisted. Deal in person, in paper. Phones are for appointments, not for deals. Dont make or accept an offer over the phone. Oral agreements are valueless. They dont hold up in court and they dont reflect in paperwork unless that paperwork is crafted around the agreement. If its not in paper, it might as well not be true. Making the Offer Good offers are realistic. Dont lowball the seller with an expectation to raise the price later -- the seller can easily say no and refuse to deal A good offer has factual finances behind it A good offer is open to future alterations if remodels and work is required down the line You will, more likely than not, get a counter offer. This allows the seller to tweak the terms of the offer to be more to their liking. This could change escrow dates, prices and other details. You review and counter-counter-offer until the two parties agree. If details are too contentious to come to an agreement, thats a sign the deal wont happen. Most of the time, you want to negotiate in a buyers market. This isnt always possible. A buyers market gets you the best prices with a motivated seller. Avoid low-ball offers. What is a low-ball A low-ball is an offer thats too low to be realistic. If a seller accepts it, you stand to make quite a bit of profit, in which case youre probably in for a shock. Most of the time, they wont accept. From a sellers point of view, the buyer probably didnt do their research. At best they assume your ignorance, and at worst they find the offer insulting. Beware of Fake Sellers Real estate is fraught with peril, and fake sellers exist. What do they gain from being a fake seller Youve probably seen fake sellers in other circumstances. The garage sale with everything priced near retail or eBay prices is a primary example. These are the people who like the idea of selling their home, but dont realistically want to. Here are a few warning signs. Are the numbers realistic If theyre selling a 250,000 house for 600,000, youre not going to whittle them down -- they dont want to sell Are they motivated People sell their homes because they need to, whether its financial stress or the desire to move. If the seller has no discernable reason to sell their home, they probably wont accept an offer Do they have a time frame Once again, sellers have a reason to sell, and often that reason includes a deadline. If theres nothing pressing them to make a deal, theyll hold out until youve wasted your time Are they genuine Bad sellers hide details, lie about the condition of their home and generally make you focus on buyer beware. If you keep encountering bad surprises, back away from this fake seller Do they cooperate If theyre uncooperative, they might have something to hide. Its not worth the time Excellent Online Resources There are a number of excellent online resources you can take advantage of in your search for a home. These range all through the process, from personal finance to escrow. Realtor is excellent for searching house listings. Its a massive national site with millions of listed homes, which gives you two opportunities. First, you can use it to browse homes in your prospective area to get an idea of property values and amenities. Second, you might even find a few homes to look at. FEMA. the Federal Emergency Management Agency, has information on disaster statistics for any given area. This will help you learn what disasters may occur in your prospective areas so you know what you need to insure against. It might also give your home inspector clues to look for damage in old used houses. The American Society of Home Inspectors is hands down the best way to locate a quality, licensed home inspector in your area. They know their stuff. The United States Department of Housing and Urban Development is a great resource for two things. The first is listing and assistance for those with disabilities and assisted living. Second, its great for finding any complaints about discrimination that have cropped up in your area. Beware of online how much house can you afford apps. These may give you a basic idea of what you can afford, but they wont tell the whole story. They dont know your credit score or any flags in your credit report that can change your rates. They also dont have your entire financial situation on hand, which can greatly affect you - which is why we published this extensive article for our homepage Things to Do After you Buy The day is finally here. The escrow has been transferred. Youve moved into your new home. Your new home You are, officially, a homeowner. The majority of the work is done, but youre not off the hook just yet. Here are several things you need to take care of as a new homeowner. Maintain your budget. At the start of this whole process, you did a detailed audit of your finances. You learned your spending habits, figured out how to trim the fat off your monthly bills and hopefully learned something about responsible finances along the way. Now that you own a home, you should keep up with your budget. Maintaining sound financial habits will help you keep up with your obligations and keep some money on the side to continue investing in your future. If you dont have some already, you may want to invest in a budgeting program. It can be as simple as linking your bank account to Mint, as manual as creating an Excel spreadsheet or as automatic as buying and setting up Quicken. Feel free to try the temporary free versions of the various budgeting programs so you know if it works for you. The easier it is to maintain your budget, the easier you will find it to follow. Set up automatic payments. This idea isnt for everyone, but it works for most people. Youre going to be stuck with your mortgage for 15 or 30 years. During that time, its easy for paperwork to get lost. A bill lost in the mail or late can lead to late or missed payments. A one-time problem can cause a cascade of additional fees. Most modern lenders allow you to set up a direct debit to your bank account, typically on a scheduled day of the month. This allows you some control, without risking errors. Automatic billing is excellent when you have stable income. Note that if you do lose your job and have trouble with your finances, you will probably want to remove automatic billing to avoid the risk of overdrafting an account. Rebuild your savings. Chances are good that your down payment wiped out most of your emergency fund. Now that the house is closed and the purchase made, its time to start rebuilding that fund. You still have house payments to make, so putting away extra money will be important if you run into financial trouble. You should definitely consider this a top priority. Extra money once your fund is rebuilt can go to retirement, saving for another large purchase or entertainment. You might consider, once your fund is back to a six-month buffer, applying some of your extra cash towards your principal. Paying it down earlier will reward you with lower overall payments and a higher degree of financial freedom. The longer it takes to repay, the more you spend on interest. The contract term, 15 or 30 years, is the maximum amount of time you have to pay it. There typically is no penalty for paying more than the minimum each month. Calculate what 112th of your monthly payment is, then add that much extra each month, making sure it applies to the principal. Factoring in the lower interest over time, if you keep it up, that one extra payment each year will cut over four years off a 30-year term. Ignore the junk mail. As a homeowner, you were immediately put on a number of mailing lists. Youre a member of an entirely new demographic. This means you become the target of a number of services offered to new homeowners. Some of these include: Mortgage insurance. If you bought your house with less than 20 percent down, you have to get mandatory Private Mortgage Insurance, or PMI. If you already have it, or if you paid with a 20 percent or more down, you do NOT need mortgage insurance. The offers you get in the mail as a new homeowner are typically overpriced for the meager amount of coverage they offer. Mortgage insurance might be a good idea in certain circumstances, but chances are you dont need to bother with it. Home security offers. A home security system is a good idea to protect your investment. That said, the offers you get in the mail are aimed at new homeowners to scare them into purchasing an expensive security system. If you want to get a home security system, treat it like any other large purchase. Take your time, shop around, talk to security specialists and get quotes Refinance offers. You might get your first refinance offers within months of closing on the house, which is certainly not enough time for interest rates to change that drastically. Refinancing is always an option, but you shouldnt refinance through a company sending you direct mail shortly after signing your first loan. Keep an eye on interest rates and property values. These are two figures you should check every six months or once each year. Watch the local and national interest rates. If you have fixed-rates, you can attempt to refinance if rates drop below where they were when you signed. This refinancing might fail, but if it works, youll slash your house payments. If they rise, well, you can revel in your fixed-rates and ignore refinancing requests. Property values have a different focus. When your property taxes are figured, they consider the estimated value of your home at the time. If property values are on the rise, your taxes may rise as well. On the other hand, if property values fall, you probably wont hear about it from the IRS. In these cases, you should talk to the county tax assessor to get a reassessment. If they appraise your house at a lower value, your property taxes will decrease. Keep records. This goes hand in hand with budgeting. Keeping detailed records, as well as receipts, is a very important task. This goes double for any purchases you make with an aim to improve the value of your home. You can use these records as proof of the value youve put into your home, which comes in handy for a number of possible purposes down the road. Start maintenance early. If you set yourself a schedule for replacing furnace filters, cleaning the home, checking gutters and all the other little maintenance tasks, youll have two things. First, youll quickly develop a working knowledge of your new home, inside and out. Second, youll be able to recognize problems as they develop, rather than when they explode. Preventative maintenance early will save you a lot of time and money down the line. Gather information. As a homeowner, if something happens, you need to handle it. That means you need to know who to call in the event of an emergency or an issue. Talk to your neighbors, find out whom they recommend for maintenance tasks. Gather a reference book of phone numbers for places like your power company, your water company, your appliance maintenance people and local businesses that help homeowners. Learn the names and numbers of your neighbors so you have someone to call in an emergency. You dont need to write down 911, but the non-emergency numbers for the fire department, police station, school, doctors office and hospital are all useful to have. Furnish your home, but slowly. You just spent a ton of money on a house. Now you have a small apartments worth of items to fill a large house. You might feel that your possessions are spread woefully thin. You buy a chair, and then a sofa. An entertainment center to support the TV. A couple of bookshelves, and of course the books to fill them, all follow. Soon enough, youve spent thousands of dollars furnishing your home, and find youre still out of savings and have home payments to make. Furnishing your home is a good idea. However, before you go out and buy a dining room set, figure out what you can afford. No one is going to pressure you into filling your house with stuff. Buy a piece here and there, refurbish old furniture, hunt through garage sales and flea markets -- deals come to those who wait. Start early with organization and storage. There is no better time to organize your stuff than when youre first moving in and unpacking. Getting a head start on organization and storage will save you plenty of hassle over the coming years. Of course its going to slip and fade, but a solid base is easier to return to than it is to create out of a mess. Enjoy your new home. The most important part of home ownership is enjoying your home. Sit back, relax and look around at what you own. You went through a lot of hassle to buy this, so youve earned the relaxation. General Purchase Considerations Key Tips amp Advice For Homebuyers Things to consider when buying a home: While 30-years is the most popular term in the United States, a 15-year term builds equity much quicker Home buyers in the US move on average of once every 5 to 7 years Early payments apply primarily to interest rather than the principal Using a shorter loan term. paying extra amp making bi-weekly payments can better help offset any transaction-based expenses associated with moving again in 5 or 7 years. Do Home Prices Always Go Up In the United States real estate prices have went up about 6-fold since 1970. Our monetary policy is biased toward inflation. If you back out general inflation, outside of during market bubbles, real estate typically performs roughly inline with general inflation. Rather than looking at raw prices, better metrics to use for analyzing real estate prices are: Home price vs median income. Purchase price vs rent.
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