How to Save for and Afford Home Repairs
Too many prospective homeowners look at the price of the home and the monthly mortgage payment to determine how much house they can afford. But other expenses need to be considered, including property taxes, home maintenance, and repairs. Property taxes will vary depending on your location, but you should budget one to four percent of your home’s value each year for home maintenance and repairs....
more →
more →
3 Things to Know Before Buying a House with Delinquent Taxes
Real estate is often considered an investment, especially in one’s retirement. You buy a house, pay on it for 30 years, and when you’re in retirement, you can sell and add the cash to your retirement fund. Or, your heirs can sell and add the money to their inheritance. However, real estate isn’t always an investment. One of the ways real estate becomes a liability for homeowners is when they...
more →
more →
3 Reasons Why We Didn’t Get a Home Warranty
When we bought our first home eight years ago, our realtor told us what a boon it was that the sellers were included a one-year home warranty. She told us not to let it lapse because the house would likely need several upcoming replacements, such as a new air conditioner and roof. As luck would have it, our hot water heater died within one week of closing on the house. We promptly used our warranty,...
more →
more →
Our Plans for Managing a House Payment with a High Interest Rate
My husband and I have been homeowners for eight years. We bought our first home and paid an interest rate of 4.25 percent. Later, during the pandemic, we refinanced, and our interest rate dropped to 3.375 percent. However, we relocated for a job, and our new home has an interest rate of 5.57 percent. Giving up our low interest rate was painful but something we needed to do because we moved out of...
more →
more →
Why We Won’t Buy a Home without a Home Inspection
Eight years ago, we bought our home in Arizona. We had a home inspection by a “budget” inspector, and the home inspector found very little—exposed outdoor pipes that needed to be insulated and a few roof tiles that needed to be repaired. The sellers happily corrected those problems. And then, within the first week of moving in, the water heater and the doorbell broke. Soon after, the garage...
more →
more →
