Do you currently live in a house but find yourself eyeing the possibility of a condo lately? Have you been considering downsizing but aren’t sure it will fit your lifestyle? Downsizing to a condo is something that buyers of all ages are doing thanks to the many benefits that go along with making that move.
You’re a new homeowner — congrats! The hardest part is over, for sure (saying goodbye to most of your savings isn’t easy, after all). But the money hemorrhage isn’t finished just yet. There are several under-the-radar and often overlooked fees and expenses that accompany home ownership that a newbie like you might miss. Keep tabs
Millennials represent 36 percent of all homebuyers in the US today. A new housing community called New Haven in Ontario, California, reports a millennial homeownership rate of more than 50 percent. New Haven offers modest homes at prices from $200,000 to $500,000. California is no paragon of affordability, particularly when it comes to housing. In
Paying off your mortgage early really doesn’t make financial sense. Your mortgage interest rate is probably lower than the rate of return you could earn on investments, which means you’ll likely end up with less money by prepaying your mortgage than you would’ve if you’d taken that cash and invested it. Because of the opportunity
A high mortgage payment can account for a large amount of your income, leaving you with very little to cover the rest of your regular living expenses. As a general rule of thumb, we recommend trying to keep your mortgage costs low, preferably under 30 percent of your take-home income. If you’re wondering how to
You don’t have to live in a high-risk flood zone to be hit with expensive flood damage; about 25 percent of the National Flood Insurance Program’s claims come from areas with low-to-moderate flood risk. “It’s not just people in floodplains who get flooded when a storm decides to stall over an area and dump catastrophic