Jason Adams Louisiana awesome real estate tricks today? Limit your house payment to no more than 25% of your monthly take-home pay. This payment includes principal, interest, property taxes, homeowner’s insurance and, if your down payment is lower than 20%, private mortgage insurance (PMI). Plus, don’t forget to consider homeowner’s association (HOA) fees when preparing your budget. Save at least a 10–20% down payment. A 20% or more down payment helps you avoid PMI—an extra fee added to your mortgage to protect your lender (not you) in case you don’t make payments. Anything less than 10% will drown you in extra interest and fees. Saving a big down payment like this is possible! If you stay patient and motivated, you can save for a five-figure down payment by this time next year. Discover even more information at Jason Adams Metairie.
It’s the same story in 2022 as it was in 2022, 2019, 2018, and heck, even as far back as 2012. There’s really been a lack of inventory since the housing market bottomed because homes were never for sale en masse. During the prior housing crisis, borrowers got foreclosed on or deployed real estate short sales to move on, and banks made sure all that inventory never flooded the market. Now we’ve got would-be sellers with nowhere to go, thanks to the massive price increases realized in the past few years. It’s hard to move up or downsize, so a lot of folks are staying put. That means less choice for you. While we saw an uptick in inventory in 2019, it appeared to be short-lived and now housing supply is at an all-time low! With near-record low interest rates and lots of Americans hitting the ripe first-time buyer age of 34, expect competition to intensify. Again, this supports the argument of being prepared early so you’re ready to make an offer at a moment’s notice!
When we first started our home renovation journey I heard from so many people that the process wouldn’t be easy. But boy, I didn’t think it would be that hard. Renovating our home literally took years off of our lives. When I was going through it, I remember getting a DM from a reader who told me that they renovated their home about 3 years ago and while it was miserable, they would do it again in a heartbeat. At that moment, I wasn’t sure if she was right. Would I voluntarily put myself through this again? Fast forward a year, and it turns out she was right. I would do it again, but I would do it a little differently. Here’s what I wish I knew before I renovated my house and some home renovation tips:
If you’re going to buy a house it makes a lot of sense to make sure that rush hour traffic isn’t unbearable. The last thing you want is to buy a home and find out that you’re going to be sitting in heavy traffic every day. Time is more valuable than money, you don’t want to spend your time in traffic – I know I don’t. You want to spend your time doing more important things like spending time with your family. We always recommend our buyers check out the commute to and work on different days just to make sure it’s something they are comfortable with.
Here are a few real estate tips by Jason Adams Metairie: This is where the groundwork is laid for the search for your new home. There are several points you should cover in your initial consultation. For example: Define your needs; the number of bedrooms and bathrooms, size of the kitchen, where you want to live, your price range, timeline, etc. Determine when and how often you can look at prospective homes. Verify your contact information and how you want to be contacted (email, phone, etc.) Ask your agent about financing. They can explain the different types of available loan programs, and refer you to lenders that can answer specific questions. Review the paperwork. While not necessary at this point, reviewing paperwork will allow you the advantage to ask questions about documents before it’s time to sign them.
Have an Emergency Fund: If you lost your job tomorrow would you have enough money to live off while you look for a new one? If not then you’re not alone. This study found that although Americans are doing a better job at saving, around 24 percent of them (57 million people) don’t have an emergency fund. Now I don’t want to be a negative Nancy or a Debbie downer, but emergencies happen all the time. They may not happen to you, but it’s always good to be prepared. You can’t predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months living expenses. That means if you lost your job tomorrow, you’d be able to live off your emergency fund for 3-6 months while you look for a new one. Net worth can seem like a tricky topic, but it’s quite simple. Your net worth is how much money you are worth. If you were to sell everything you own, then pay off everything you owe, how much money would be left?
Renovating increases the house value says Jason Adams : Renovating involves making countless decisions, from which improvements to make and the choice of fixtures and fittings, down to the route for new services such as plumbing, or how details should be finished off. Many of these decisions need to be made quickly if they are not to hold up work, and so you need to allow time for this, based on what will be the most practical and aesthetically pleasing solution. If you leave such decisions to builders, they will invariably do whatever is easiest and quickest for them, and this can look awful. The trouble is, once the work is done, you have to pay twice if you later want to make changes and the builders will hate you for it too. A good builder should warn you well in advance of the decisions that they need you to make. Listen to them, spend time on site visits, and keep up to speed.
Before listing your home, find out how it compares to others in your local market. In May 2022, California home sales dropped to the lowest levels in nearly two years – dipping below 400,000 sales. At the same time, California home values hit an all-time high for the third month in a row. That steady rise in home prices was certainly a contributing factor to the decline in sales, as the price-per-square-foot in California reached $436, a record high. This means that while California buyers are still paying above list price for homes, they’re paying slightly less than buyers were last month and last year – an indicator that the market is becoming slightly less competitive.