Many people think that they “know” when it is time for them to get a house. For instance, in my own situation, I would love nothing more than to own a house. I have quickly outgrown my apartment, and my boyfriend and I are constantly tripping over each other. However, like so many other couples, there are many things to consider first, and you have to be smart about it.

There is a correlation between buying a house and buying a car for the first time that many people make the same unfortunate mistake with. For instance, you may go to a dealership and see a beautiful vehicle that is fully loaded with all of the special perks and subtleties that you may have always wanted in a vehicle. However, when you look at the price tag, you may realize that it is totally out of your budget. In many cases, the salesperson will lead you to believe that you can still afford the car when in fact you really can’t. You fail to realize that you couldn’t afford the car until it is too late. The same sometimes goes with buying a house, which is part of the reason so many people are in trouble with the housing market today. You see a home that has all of the amenities in it that you want, and despite the fact that you know you really can’t afford it, you are still approved for the loan, and you decide to risk it anyway.

Only start thinking about buying a house when you know that you have enough money saved up to do so. And this money doesn’t just include what it would cost to cover the down payment. You have to consider closing costs, lawyer and realtor fees, property taxes, home repairs, etc. There are many things that can go wrong with a house, and unlike living in an apartment- you won’t be able to call the front office to have them come and fix it.

If you and a partner are going in on buying a house together, you need to sit down and talk with them first about your relationship-especially if you are just roommates or are only dating. Things sometimes happen that we don’t plan such as people getting married, couples breaking up- and all of these things can affect a couple of people who have decided to purchase a piece of property together. As awkward as it can sometimes be, you need to be totally honest with each other about how much money you earn as well as how much debt you owe. These things will factor in heavily when you go to apply for a loan from the bank. Additionally, many people don’t realize it, but if you have just started working, you will probably have a harder time getting a loan because banks want to see that you have a work history that is longer than working at a particular job for a few months. If you want to own a house down the road, you need to make sure that you are on top of your bills. Don’t skip payments; create a system for paying your bills on time- get organized! Missing payments will hurt your credit score as will owing a large amount of debt or not owning a credit card at all.

bathroom lighting brass chandelierArticle Source:http://www.articlesbase.com/real-estate-articles/knowing-when-to-buy-a-house-925744.html

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I’ve had a few ideas, just interested in what other people think would be popular or what useful product for sale/service they’d like to see in their supermarket?

I just want to rent my house for approx 1-2 years do I need to change mortgage to a buy to let, they are alot more expensive and i'm not sure it would be worth the hassle

Interview with John Stepek of MoneyWeek magazine, on the rise in repossessions during 2007, as well as the effects of sell-to-rent-back (BBC News 24, 08/02/08) www.moneyweek.com … uk money mortgage repossession property “john stepek” moneyweek

We are having financial problems and have seen National Home Buyers advertising to buy your home and rent back, does anyone know how this works and what are the advantages and disadvantages of doing so? We want to stay in our home, so this would be ideal for us, and allow us to free ourselves from debt.

Nobody likes to invest in a declining market. But the situation may demand that you will have to sell your house quickly in this slow market. It will certainly be a frustrating experience to sit around with an unsold house on the market. It is true that in this time of continual recession the number of home sellers is incresing while the list of the buyers is becoming thin to thiner. There are more houses on the market than they were previously. Now it is a challenge to sell your home for an acceptable price in this declining market.

Here are some must-follow rules ,which will help you sell your house quickly in this slow market. Moreover, inspite of the slow market you will not have to lower your price ,if you can maintain the following strategies.

Be patient in a slow market

It is paradoxical,but true that you should be slow in a slow market.In a declining market the sellers are driven by the psychological fears that the more thay wait the more he/she will lose. The sellers get easily frustrated and hike the much less price lest they should suffer more. But the truth is that you should be more patient in a slow market and wait to observe the whole situation. Don’t lower your price suddenly out of frustration. You should sit and observe the market for some time in order to find the right buyer for your home.

Pricing your home too low can affect sellin adversely in several ways. There is a possibility of not getting the right price , if you drop the price too much. Moreover. Lowering the prices may have negative impression about your house and they may begin to consider your house as one those ’problem houses’.

Observe the market and set a standard price

In a slow market it is important for you to take a step back and evaluate the true value of the home and the surrounding area. You should neither drop the price rashly nor be a foolish to cling to your old price when the market is slow. If you want to sell your house quickly, you should consider pricing your home no higher than the middle range for houses comparable to yopur house. As I kmentioned earlier, the buyers are a few in a declining market. While few buyers are chasing many homes, you will have to quickly get the attention of those who are serious about buying.

You can draw the attention of the possible buyers by setting a price that is attractive and reasonable to buyers. Compare your house with the houses in your neighborhood to have a fair idea about the right price. If you hike a too high price, you may never get buyers to even consider looking at your home.

Offer consesions in different ways

You can make your house attractive not by directly lowering your prices. You can offer consesions like bearing the cost of the repairs, giving home warranties that will cover the cost of home repairs during a certain period of time after the home is bought. Such incentives will certainly allure the potential buyers.

Refurbish your house

The first look is important. You can give your house a dazzling look by refurbishing it in order to impress the possible buyers. Looking old will make the sale of your house even more slow in a slow market.

Hire the right agent

It will be Quixotic to try to sell your own house in this slow market without the help of the real estate professionals. So, look for a sales agent who has a good reputation as well as experiences in your area.

Follow these tips and have a quick sell of your house in a slow market.

Greath Owen writes about Sell House Fast or Sell and Rent Back ,Property for Cash. To know more about Sell House Fast or Sell and Rent Back ,Property for Cash, visit http://www.yourproperty4cash.co.uk

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my girlfriend is to move in with me, and we cant work out whether to sell or rent her house. is she exempt from cgt if she sells (she's lived there for over three years)? is the tax on renting punitive (she's higher rate)?

Buying a home can be a stressful and time consuming event in your busy life. The good news is that it doesn’t have to be. A good real estate professional can take the stress out of home buying by saving you time and taking care of all the hard stuff!

The initial search is the most time consuming and frustrating part of buying a new home, and it’s just the beginning. Scanning newspaper ads, websites and driving around looking at yard signs can take what seems like forever.

Then once you find a house or two, or three, or however many, now you have to find a way to comfortably view the insides without the current owners following you around looking over your shoulder. When that happens people tend to just want to rush through and get out without really having a chance to inspect. When we’re thinking of buying a house we want to bring the family. We want to open doors, cupboards and closets, not to be nosy but just to get a feel for the place. We want to see the kids run around , gauging their reaction. After all, it’s a family event. Everyone wants to feel at “home” in the home your thinking of buying. That’s near impossible with the current tenants present. I’m not saying it will happen, maybe it won’t, maybe if your lucky, which no ever is, you’ll fall in love with the first one seen. Then you’ll never know what could have been!

Let’s say you find a few houses you might like. You’ve arranged and rearranged schedules and viewed them. By now your exhausted and the original excitement of buying a new home has definitely worn off. You’ve probably completely lost track of what you were looking for and why to begin with. It happens, we’ve seen it.

Your real estate professional, preferably a Realtor, takes care of all the headaches for you. At his finger tips are virtually all of the homes for sale, with detailed descriptions, in any given area. Now you and your family can sit down in the evening together and make lists of what you want in a new home and what you need. Your Realtor then takes that information, your dream list, and narrows the search in a fraction of the time it will take you to do so on your own.

How many bedrooms and baths do you need? The size of the rooms is important. What kind of square footage are you looking for? Do you need a fenced yard? All of these questions and many more can be answered quickly. With this information a list is generated of prospects for your new home. The Realtor then arranges for showings where you can view the house at your own relaxed pace without annoying owners present. This way your family and you get a good feel for the place. Check out as many as you need to. Buying a house is a major event and finding the perfect one is of the utmost importance.

Once He or She has found the perfect home for you, the next step is to negotiate the best possible price. This is done by first putting in an offer on the house. The offer is the price that you, with your Realtors professional help, decide you want to pay for the house. Offers can include extras like window covering stay, leave the refrigerator or sometimes to even do some work on the house. Whatever, the first offer should be reasonable but tilted to your benefit. Getting the seller to pay closing costs or other expenses is a popular offer theme. The seller than excepts or comes back with a counter offer, and on and on until an agreement can be reached. A Realtor is a pro at negotiating. Their job is to guide you through the whole process to assure you the best deal possible.

Once the contract is in hand there are a number of tasks yet to be completed before you get your house. If you haven’t already you’ll need to find a lender, unless of course your paying cash. A Realtor knows the market and can suggest mortgage brokers to you. Then Inspections and appraisals and more inspections are next. A title company will need to clear the title making sure it’s not held up by any previous obligations, liens or trickery.

Finally one day you, the seller and your respective agents sit down at the title company and sign papers. That’s the day the house is yours. The real estate professional carried this whole process through for you. They took care of all the headaches, running around and complicated paperwork while you carried on comfortably with your everyday life. Now you and your family can celebrate and move into your new home. But don’t despair, there is something you can do for that person that worked so hard to make your dreams come true.

Realtors love referrals!!

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