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Many aspiring homeowners cannot afford to buy a home where they want, especially in expensive inner cities. So, they’re turning to a new concept: rentvesting. It’s a clever way to enter the property market and start building personal wealth, giving you the freedom of renting coupled with the financial benefits of homeownership. Rentvesting means renting […]

o make it easy to compare homes, the real estate industry supplies lots of data for each listing, including number of stories, type of home (condo, single-family, etc.), building materials (brick or siding), size of lot, number of bedrooms and baths, and so on. Nearly all homes listed for sale provide square footage to indicate overall size, […]

You may think you don’t need a first-time homebuyer’s certificate, but it’s a good idea to take a few hours to obtain one. A certificate shows you’ve completed educational requirements to prepare you mentally and financially to buy a home. Plus, completion of a course may make you eligible for some first-time homebuyer assistance or income qualified […]

Refinancing your mortgage is expensive, especially if you just want to lower your monthly payments. Closing costs can be in the thousands of dollars because you’re essentially applying for a new loan. Is there another way to lower your monthly payment? Yes: You can recast your mortgage. In simple terms, a mortgage recast involves making a lump-sum payment toward […]

Fabrics in your home are important to both your comfort and budget, so knowing the grams per square meter(GSM) is helpful when choosing textiles for bedding, furniture, and fabric accessories. GSM only measures the weight of any fabric. The higher the GSM, the denser and more durable the fabric. A fabric’s GSM rating helps you better evaluate the performance […]

A rain garden isn’t as complex an idea as it sounds. You can just use a small depression in your yard—the one where a puddle always forms when it rains. According to LifeHacker.com, the goal of a rain garden is to “temporarily hold and absorb rain water runoff coming from roofs, driveways, patios or lawns.” Instead […]

When you take out a conventional mortgage loan (not insured by the U.S. government), with a down payment of less than 20%, your lender will require that you pay monthly private mortgage insurance (PMI) which protects the lender in case you default. PMI costs can vary between 0.58% and 1.86% of the mortgage amount. According […]

The role of Smith Mountain Lake real estate agents has evolved dramatically over the years, adapting to the changing landscape of the housing market and the needs of buyers and sellers. Today, the benefits and tasks of a real estate agent are multifaceted, yet the more things change, the more they seem to stay the […]

Condominiums and co-ops are great choices for first-time homebuyers, singles, couples and roommates, and down-sizing families, but they are very different types of property ownership. Condominiums are usually located in the most in-demand areas, near plentiful jobs and entertainment districts. You’ll own your unit and share amenities with other owners such as garage parking, fitness […]

Your return on investment (ROI) is how much money you make or lose on a property investment. It should be enough to cover expenses and have positive cash flow. ROI can vary greatly, depending on the formulas you use. The 2% rule. This rule states that the monthly rent for a rental property should be […]