4 Elements to Check for in a Home Listing For Greatest Buy Value

When you plan to make one large purchase for the foreseeable future, then you want to make sure it is the best investment possible. Many people choose to purchase a house. Here are four things to look for to help you get the most for your money below.

Age of the property

Typically, the newer the house, the less work you will have to put in to keep it up. Older homes often have code issues and structural problems you must address. Unless you are in the business of rehabbing homes, then it may not be advisable to purchase a fixer-upper. If you have someone with the tools and experience to get more money in the end, then yes, this is a great option. Otherwise, stick with a new house to retain the most value.

Location

Every agent will tell you that the site of the home or building is the most important thing. Whether you are close to shopping, walking paths, grocery stores, parks, entertainment, or diners is important. 



When you want a property that will keep the most value, then you need to be in a thriving neighborhood. A look at the comparison homes will help you see what range your home should be in.

Technical features

What amenities and characteristics are in the home? What things set the property apart from the rest? These items are important to the value of the building. Maybe there are stained glass windows or beautiful built-in shelves in the den. The most unique items are often the ones that add value. Carefully pouring over the home listings will help you find these features.

Upgrades

Old homes with the right updates and maintenance routines can be worthwhile. For example, a house with French doors and marble tile is going to be worth more than old doors and linoleum. 

When previous owners fix problems and add new features, then a home with age can be of value. The key is to make sure to get a property appraisal and inspection to make sure the home basics are solid. Things like electric, plumbing, and the foundation should be in good condition to make a sound purchase.

Picking the right property can provide you with a sense of security. When you have a home with good construction and the right location, you can build a portfolio that will provide income for years. Any agent will tell buyers to get a home inspection and appraisal before signing a contract.

4 Mortgage Options for Retired Couples

Mortgage and retirement are two words that can inspire numerous concerns when used together, but changing the way you finance your home is an incredibly important decision for seniors. There are several basic options for approaching how you preserve or utilize the value of your home. 

The best option largely depends on your needs, goals, and expected future income, so it's always a good idea to talk with experts in the field to get some guidance.

Relocate Your Residence

Retired couples often find themselves living in a home that's much too large without any kids running around. Without the need to be located near work, senior homeowners can consider many more home options that might provide the same or better quality of life for less money. 

Selling your existing home and getting a more affordable mortgage on a new residence can give you a lot more financial flexibility when planning your retirement.

Pay It Off

Some retired couples aim for mortgage programs that lead to them paying off their mortgage as quickly as possible. While this can create a short-term budget crunch and require careful spending decisions, it can also greatly ease the strain monthly payments have on a limited income. 



Even if you can't pay it off completely, putting more money towards it in the years leading up to retirement may be the best option.

Refinance on Equity

Preserving your stake in the value of your home isn't always the right choice. Seniors who find themselves facing difficult circumstances or need immediate access to cash sometimes consider refinancing on equity. This may provide vital relief from immediate circumstances or allow retired couples to invest it elsewhere as they see fit.

Consider Reverse Mortgages

Reverse mortgages are similar to loans on equity, but they are generally easier for retired couples to manage. Typically, homeowners can remain in their house and continue living there without making payments on the loan. 

Once the homeowners are deceased, the lender gains claim to the home unless any existing heirs are willing to pay back the debt. The loans may come due earlier if the homeowners move or stop living in the residence for an extended period.

As most financial advisors will tell you, it's better to start planning for retirement decades before your designated exit date. However, even people who are approaching or already reached this milestone still have plenty of options when it comes to managing their home value and personal finances.

How to Effectively Budget So You Can Eat and Drink out More Often

Budgeting gurus often suggest eliminating eating out as a way to save money. For some people, though, dining out is an essential social function and a top priority. If you fall into this group, the question isn’t how do you eliminate eating out but rather how to budget elsewhere so that you can eat out more. Here are four useful budgeting tricks that will let you eat and drink out more often without harming your financial situation.

Cut Back on Fast Food Meals

For many people, fast food is a common breakfast or lunch choice because it’s fast and easy. If you want to budget to eat out at sit down restaurants more often, though, you may want to rethink your fast food meals. Getting breakfast or lunch from the drive through a few times a week could easily cost you the price of dinner and a drink at a nicer restaurant.

Find Restaurants with Great Value

Like anything else, budgeting to eat out more often is all about finding the best bang for your buck. Try out some local restaurants and see which ones give you the best dining experience for your money. Going to a sports bar is much more affordable than a fine dining restaurant, and some of these bars actually have excellent food. Finding a few places that offer great value will help you eat out more without breaking the bank.

Set Aside Some Money Every Week

Budgeting to eat out requires the same financial discipline as any other kind of budgeting. To do it, you should set aside a fixed amount of money every week and not exceed what you’ve budgeted. If you don’t happen to use your full budget for dining out in a given week, you can carry the extra over to the next week or save it for future use.

Cut Costs in Your Grocery Budget

One of the easiest ways to budget for more meals out is to bring down your grocery bills. Buying generic products, cutting back on non-essentials and taking advantage of store sales are all effective ways to bring down the cost of your grocery runs. The money you save on groceries can then be allocated to your budget for eating out, allowing you to get more restaurant meals without actually dedicating more of your net income to food overall.

Following these four simple steps, you’ll be able to budget for dining out more often. While it’s still a good idea not to go overboard, you should easily be able to budget for 2-3 meals out per week without overspending.

Ways to Save When Buying Supplies in Bulk

Buying in bulk is a great way to stock up on the supplies you need. However, it is not always an affordable option when you are on a budget. Use the following tips to learn how to save money when buying your supplies in bulk.

Only Buy What You Need

When you see supplies such as candy or socks in bulk, you may be tempted to add them to your shopping list. Do you really need to buy these supplies in bulk? Stocking up on supplies you do not need in bulk is a waste of money. You can save money by creating and sticking to a list of the supplies you actually need to buy in bulk.

Clip or Print Coupons

Another way to save money when buying in bulk is to look for coupons for certain products. There are several stores that offer coupons for bulk supplies. You can find coupons in sale papers and online through the store website. If you have a membership to a certain store, you may receive coupons in your mail or email.

Check Out the Current Sales

When looking for supplies such as food, toilet paper or other groceries, it never hurts to check out the current sales in stores. You may find a sale that allows you to buy one item and get a second for a discounted price. There is also a chance you may catch an online sale that offers free shipping to a local store or your home.

Focus on Self-Sufficiency

Some of the best things to buy in bulk are those you can use to be more self-sufficient. Buying flour and yeast instead of bread will give you supplies that last longer and that can be used to make a variety of foodstuffs. Buying seeds and soil or bulk 9mm Luger ammo for sale will give you tools to grow or hunt your own food if you are in the right area for it.

Split Up Certain Supplies

There are some supplies you can split up with family, friends or neighbors. Everyone pitches in towards the total cost of the supplies, such as pasta, bottled water or toilet paper. When the supplies are picked up or delivered, they are equally split between everyone. Splitting the cost allows everyone to spend less on the supplies they need.

Do Not Buy Everything at Once

It is tempting to pick up all of your usual supplies during a weekly shopping trip. You may feel you are ahead of the game by picking up supplies you may already have at home. However, you are spending more money than necessary on supplies you do not need right now. If you want to save money, designate each shopping trip to only the supplies you need at the moment.

You do not have to break the bank when buying your supplies in bulk. If you keep the above tips in mind, you can save money while stocking up on the supplies you need.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan

Understand Your Responsibilities When Renting A Home

When renting a home, take the time to read through the contract. Don’t just sign right way because this is the first and last time to see it. You risk regretting why you just signed without knowing what lies within the contract regarding your responsibilities. The renter and landlord have responsibilities stipulated in the lease agreement. 

Understanding your responsibilities will protect you from a nasty lawsuit resulting from miscommunication. Knowing what lies ahead prevents conflicts and ensures a good relationship with your landlord. 

This article highlights your responsibilities as a tenant. Keep in mind that sometimes local laws override these responsibilities. However, many of these rules adhere to Canadian and North American standards.

Replacements

Landlords don’t have to replace everything in the home before you move in such as the light bulb. This seems like part of the fixed property but replacement is the renter’s obligation. Luckily, it doesn’t cost much. 

And, you can fix in bulbs that match your requirements and remove them when moving out. The types of bulbs in the home determine total energy consumption. You have the freedom to fix energy-efficient options to cut back on your monthly expenses. 

When moving in, the landlord has no obligation to replace the bulbs. Given their lifespan, it would be awkward waiting for the landlord to bring replacement when you’re occupying the property.

Outdoor maintenance

For a detached home, you are responsible for mowing the lawn and other works in the yard. Snow removal is the landlord’s responsibility during winter according to Canadian Law. Understanding responsibility for outdoor maintenance is very important after realizing how to find rent to own home near me. Adopting eco-friendly and low maintenance practices in the backyard saves a significant amount of money and time.




This makes the outdoor space more sustainable which is a great thing, especially when looking forward to owning the property after lease agreement.

Post-moving damages

The renter is responsible for any damages that happen to the property since moving in. Your landlord documents everything in the home before you move in. Well, you can also do the same by taking some photos of the property highlighting its present situation. 

This proof will protect you from unnecessary expenses for damages that are not your responsibility. You have to fix any damages caused by your children or pets including broken glass and faucets. 

 However, damages from wear and tear are the landlord’s responsibilities. Keeping the property in good shape is the job of the owner to make it appealing to tenants. Consider a professional inspection to realize any damages before moving in. 

Understanding this allows knowing damages that you have to take care of and those that require the landlord. Documenting the current state of the property before moving in prevents conflicts in the future.

Timely rent payment

You should make monthly repayment on time. Apart from building your down payment for the home, it also improves your credit score. When opting for a rent to own contract, look for one where you become the owner of the property after moving in. 

This gives you the freedom to remodel the property to match your requirements while still renting the home. 

Before signing the contract, read the terms thoroughly. This allows understanding potential steps the landlord might take against you when you default. Paying your rent on time protects you from eviction and denting your credit history. 

Additionally, failure to pay monthly rent might lead to the revocation of your contract. Timely payment of rent shows you are financially responsible with the capacity to meet expectations of your agreement.

Repairs and maintenance

Understating what you are getting into before moving in protects you from conflicts with the landlord in the future. It eliminates the chances of the landlord accusing you of things you are not responsible for.

Before you move in, the landlord should ensure that you find vital services in place. You are entitled to a safe home with privacy and streamlined payments. Check the local tenancy act to understand your rights for safety from scams and bad landlords. 

You can’t rule out conditions in the lease agreement that might not be in your favor. The landlord is responsible for any major repairs and maintenance on the property resulting from wear and tear. You are only to fix any damages that happen during your tenure.

Subletting and AirBnB

During your tenure, you might consider sharing the home or hosting an Airbnb. This allows getting some extra income to lower your expenses in the home. However, be mindful of the terms in the agreement. Some landlords might require permission to do so. Some cities have special rules and regulations regarding AirBnB hosting that everyone complies with.

Wrapping up

When renting a home, you should consider a rent to own contract. This is a cost-effective way to own your dream home. However, you have to be mindful of your obligations when renting a home before signing the agreement. This ensures a harmonious relationship throughout your tenure.

How to Take Care of Your Finances After Retirement

Your ability to manage your money after you retire may actually be just as important as your ability to save. To make sure that your income is well-protected, it’s critically important to know your risk tolerance. You must be comfortable with your investments as they currently stand. You will also want to plan properly for those you will leave behind.

Cash Today: Needs Vs Wants

Careful monitoring of your spending and tracking where your dollars are going out is always a good investment of your time. Knowing where you need to spend your money and doing so with care will give you more cash for your “wants” when they crop up. 

If one of your retirement goals was the chance to travel, then you will probably need a reliable vehicle. With a focus on the right car, you can pare back other expenses more easily.

Investments: Maintaining Liquidity

If you have money in stocks and bonds, converting those assets to cash will be a simple process. However, if the majority of your money is tied up in your house, art, or rare coins, converting these things to cash may be more of a challenge. 

Selling your home and moving to raise cash quickly means that you may not get the best price. Such a move will also be extremely stressful and may impact your health.

Tax Planning

The laws on Required Minimum Distributions (RMDs) have changed repeatedly over the years. If you are approaching 70, contact your accountant for instructions on the best way to manage the minimum distributions you must take from your retirement accounts to avoid a punitive penalty.

After You’re Gone

Make sure you have a life insurance policy that will at least cover your funeral expenses. In addition, consider setting up an agreement with a funeral home and mortician so that the expense of managing your final remains is taken care of. 

The professionals at Damar Kaminski Funeral Home & Crematorium can help you select the best plan for your budget. Once you’ve made your selection, be sure to let your family know of your choice and get a copy of the agreement to your executor.

Conclusion

The first few months after your retirement may be worrisome. Making sure that you can thrive on the retirement dollars you have coming in may take some budgetary adjustments. However, if you can keep your goals in sight and focus on putting your time and dollars there, you can enjoy a retirement focused on what you’ve always wanted to do.