A dream for many of us is to eventually own our homes so that we don’t have to worry about things like being kicked out by a landlord, or having to move because of renovations being done to the building. Also, once you have paid off your mortgage you no longer have to worry about paying towards the cost of the property unlike if you were renting. All you have to pay for is your utility bills and other essentials like food and clothing. However, with the rising cost of properties and the difficulty of obtaining one, is it worth owning a property? This article is going to explore why we think that even though it’s a hassle, it’s definitely worth it in the long run.

Cost

It’s a little known fact that when you buy a property, not only do you have to find the money for a deposit (it’s usually 10% but it can be lower depending on your lender), but you also have to find the money for upfront fees. These are usually from your realtor and they are to compensate them for handling your property and your move. These charges aren’t something that many people think about until their realtor puts it in front of them.

While these charges might be more of a hinderance than anything else, it’s definitely worth digging into your pockets to pay for it because when it’s all said and done, you’re officially a homeowner and can begin looking forward to creating memories in your new home.

Location

If you’re looking to buy a home away from where you usually reside, it can be difficult to pick a location for you to settle down in. Competa properties offer people that are looking into becoming a homeowner the chance to own their own property for much cheaper than you would in the USA or UK. So if the prospect of living abroad excites you, it’s definitely worth checking out what they’ve got on offer.

If you’re planning to stay local, then a simple trip to a realtor will help you discover what kind of properties are on offer, and it will even help you plan how much you’re going to need to save to get the property of your dreams.

While choosing a location might be something that blows your mind a little, think about the fact that you’re in a position to live anywhere that you want, whereas people who rent don’t often have a wide choice.

Upkeep

Another thing that puts people off buying their own homes is the upkeep of the property. When something goes wrong, it’s up to you to make the repairs to your home. Unless of course, it’s on the pavement that you don’t own. If for example your boiler breaks, it’s up to you to either replace it yourself, or hire a professional to come and do the work for you. Obviously this can be costly, and if you’re salary is only making enough to pay your mortgage and other bills, this could be a problem.

One way of solving this is to arrange with your bank a saving scheme for when times like these arise. Most banks these days offer something to help you save money, whatever it’s for. Alternatively, you could put as much money as you can afford away each month so that if something does happen, you know that you’ve got some money to dip into for repairs.

Again, while this is something that puts people off, it can also be turned into a good thing. This is because when you do have repairs made, you can ensure that it’s done to the best quality so that you don’t have to pay for it again any time soon. Whereas if you were renting, you’d have to contribute to your landlord who might go cheap on the repairs and keep the extra money for themselves.

Conclusion

As you can see, there are many downsides to owning a property but in the long run there are always solutions around it. For example, if you ensure that you have home insurance, some repairs you might be able to claim from that, especially if it’s caused by a natural disaster or robbery. While it might be difficult to begin with, wouldn’t you rather have your home to own when it comes to later on in life too?

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There is no question about it; your home is the most expensive item that you will most probably ever own. Buying a home is no easy task, which is why it is so upsetting that when it comes to selling up and moving on, it can cost so much, eating into your valued investment.

So what can you do to cut costs when selling up and ensure that you are able to hang onto as much of your hard earned cash as possible? For all of the best tips and suggestions, read on.

Haggle

When it comes to dealing with estate agent’s fees, the best thing that you can do is haggle. Take the time to have a look for estate agents in your area – pick a mixture of corporate and independent ones – and then compare their prices. Choose the ones that you like best and think will be the most successful at selling your home and ask for quotes. What you can do then is haggle – tell your estate agent of choice the other offers you have been given and ask them to beat them. Stay firm and stand your ground, and you should end up getting the help of an estate agent on the cheap. As for the solicitors, the same advice applies. Their fees can be extortionate, which is why haggling is vital. Get a range of quotes to use, compare different companies, and then haggle on the price and ask who can beat the lowest price. The more you can haggle, the better.

Look at your selling options

The next step is to look at your selling options. When it comes to cutting costs and saving money, it is important to look at each and every option that you have when it comes to selling home. There are some fantastic services out there that can help you to get the best deals possible when it comes to selling your home. Take the time to research and compare all of the best services, to ensure that you are able to get the best deal on your property sale and keep costs as low as possible.

Ensure you get what you pay for

If you are going to pay for a service, it is vital that you get what you have paid for. The fact is that when it comes to selling up, prices can be high, which is why you need to ensure that whatever you pay for, you get. After all, the last thing that you want is to waste money, right? So make sure to monitor every service that you use, to ensure that when it comes to what you are spending, every penny is worth it.

There you have it, everything that you need to know about selling up and doing it on the cheap. Admittedly, selling a house is never going to come cheap, but you can cut costs and make the process more cost-effective if you take note of the tips and advice above.

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Struggling to pay your mortgage can be a scary time. When taking out a mortgage, every person is told that failure to make repayments could result in repossession of the property. For many people with families, this is a terrifying thought. In fact, it’s so terrifying that many people bury their heads in the sand and try to ignore the problem instead of addressing it. However, addressing the problem before it gets out of control is the best way of handling it. So, what do you do if you’re worried about making your mortgage repayments on time?

Talk to Your Mortgage Provider

There are lots of consequences to not paying your mortgage, including bad credit reports. The more you ignore the problem, the worse off your credit score will become, which puts you at risk of not being accepted for future credit. Take a look at some tips from bestcreditrepair.co for restoring your credit ratings. If your lender knows you’re struggling to come up with the repayments for your mortgage there could be something they could do. For instance, many mortgage lenders offer payment holidays if you’re unable to work. You could also ask if it’s possible to extend the term of the mortgage so you’re paying smaller amounts for a longer period.

Get Advice

There are so many agencies out there that are ready and willing to help in a financial crisis. You don’t have to feel like it’s all on your shoulders to get the problem solved. Managing debt well takes a lot of skill, so it’s okay to ask professionals for their help. If your debt problems are making you feel depressed, it’s also worth calling a depression hotline to talk to someone about your worries. Bottling everything up won’t help you find a solution to your problems and won’t help you maintain your health.

Repayment Holiday

There are certain times when a lender may consider giving an account holder a repayment holiday. Often times, many people just need a financial boost to get back on track and a repayment holiday could be the ideal solution. Talk to your lender about a repayment holiday and agree to the terms and conditions. During your repayment holiday, do what you can to save up as much money as possible so you don’t have to face the same struggle again.

Create a Budget

Creating and sticking to a budget is easier said than done, but once you get used to it, you may never have to face financial pressure again. Write down your income and all of your outgoings and stop any unnecessary payments, like TV subscriptions. Limit your spending to things you need, instead of things you want, and use any disposable income to lower your debt. The less you have going out on a monthly basis, the less likely you are to find it difficult to pay your bills when something unexpected occurs.

The most important thing you can do when you can’t make a mortgage repayment is be open about it.

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Oodles of cash flowing in. That is what most folks think they will get when they chose to invest in real estate. However, this isn’t always the case. In fact, it’s important to realize that there are plenty of outgoing expenses to think about as well. With this in mind read on for some advice on what you will need to pay out if you are looking to invest in property so you can establish whether its something that you can comfortably afford.

Deposits

Usually the most significant cost for people investing in properties the initial deposit they need to make. After all, the larger the deposit you can put down the less monthly fees you will have to pay. Maximizing your profit potential, whether your lease it out or sell.

The problem is though that while investing in property may be a great long-term way to make your money work hard for you, there are some situations in which it isn’t the best idea. In particular, if you have a lot of outstanding debts, it’s always better to pay these off first rather than start saving for a house deposit. To work out how to do this, you can see sites like debtreliefprogram.co for some advice on how to get out of debt. The idea behind this being that your debts will always cost you more, because of the rate of interest you are paying on them.

Therefore it’s just a false economy to start saving for something else while theses still need to be settled. Meaning if you have large outstanding debts it’s always better financially to settle these first before you venture into the property investment market.

Renovation

The initial costs of purchasing a property are not the only ones you have to worry about though. In fact, there are quite a few others. One that can be pretty pricey is the cost of actually renovating the home that you buy, making it livable and attractive to buyers and tenants.

Of course, this will depend on the initial state of the property, as well as the standard you are looking to raise it too. While time is also a factor here. Many people spend more to get the home they have bought ready quicker, so they can then flip it quickly for a profit and ensure continued cash flow. So you will need the resources not only to purchase but also to renovate for your investment to be a success.

Fees

Unfortunately, these are the only cost you have to worry about when investing in property either. There is also a myriad of other things including property management fees and upkeep for lettings, and for sales legal fees, surveys, and realtors fees, usually at 6% of the total sale. Get a breakdown of where this goes at sites like bankrate.com if you want to understand this process better.

Something that demonstrates you do need to have substantial funds that are freely accessible to make a success of this type of investment.

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Christmas is only a couple of months away, and many people are already way into their Christmas shopping. But the real task is budgeting for your perfect Christmas as well as making sure you enjoy the festive season as much as possible.

Work Out What You Can Afford

Before you start planning all of your decorations, food and gifts for everyone you know, first take the time to sit down and look at what you can realistically afford. Think about it this way- Christmas is only one day a year. You don’t want to splash out on 24 hours and regret it for the next year. Be smart and think about how much expendable income you have saved for the festive season.

Stop Buying Unnecessary Presents

Sure, Christmas is a time for puzzle games and silly gifts; but if you are trying to save up and stay smart with your finances, it’s not really a great idea to buy 10 whoopee cushions for your friends. Stick to presents you know your loved ones will love.

Or, if you really hate the idea of not being able to be a bit fun- give yourself and your friends a small budget to stick to for silly presents. Maybe even arrange a secret santa

$100+ in time for Xmas

Yes, that’s right. You can bag yourself some extra cash for the festive season by simply switching bank accounts. Make the switch and get yourself a nice little bonus to go towards your festivities.

Supermarket Saving Stamps

Supermarket saving stamps schemes are used to help families save up for Christmas throughout the year to cut the bow at the end. However, if you are smart about it you could get an extra 4% bonus on your savings in time for Christmas. If you add in a large amount to the card at once, the supermarket will give you a bonus. So pay in, get your extra cash and spend on all of your winter essentials.

Christmas IOU generator

As many of you will know, during December the price of even the simplest item can sky rocket. However, in contrast the prices drop in January. So if you are trying to save up for something big such as a TV or Games Console, just wait for it. Yes, it might mean that the kids are opening an empty box (or a cheaper gift in the meantime) on Christmas Day, but it will save you a huge amount of money in the long run.

Black Friday

When you think of Black Friday, you may have visions of riots in the street and carnage at the supermarket…you wouldn’t be wrong. But you don’t have to step out into no man’s land this November to bag yourself a bargain. Instead, shop online. Sites such as Amazon run week-long events for Black Friday and chop the prices of products by anything up to 80-90%. If you are waiting for a game or DVD release, hold out for Black Friday because the likelihood is that a deal will come on for it.

Sell Your Old Stuff

Out with the old, in with the new. And money goes straight into your pocket ready for the festive season. We get a lot of things around Christmas, and often it can be difficult to move in a sea of gifts for the week afterwards. Get onto GumTree and sell some of your old things to make room for the new stuff, it’ll also mean a nice financial bonus for the festive season.

Home Or Away?

Although staying at home is the obvious choice for most of us, you don’t have to spend Christmas in your house using up all of your own electricity and water. Why not club together as a whole family and rent a lovely cottage or apartment from a site such as Meriton? It will be exciting for the whole family and means that you all club together for a great holiday and amazing memories.

Avoid Expensive Turkey

Now, of course turkey is the star of the show for your Christmas Dinner, but to be honest, you don’t need to splash out for the most expensive brand to get a good quality bird. Try swapping out your usual choice for a lower brand option, you probably won’t even notice the difference!

And there is another option… you could eat a different meat.

‘That’s sacrilege!’ you say- but it is well known that stores will hike up the price of turkey through the winter months because they know people are willing to pay for it. But actually, not everyone likes turkey, and a great alternative would be a beautiful joint of roast beef.

Consider the Risk of Gift Cards

You might think that getting someone you don’t know very well a gift card is much better than buying them a gift that they won’t like, and that can be the case. However, sometimes there can be a few risks with opting for a gift card over money.

• Big Retailers can go under. It’s happened before, and it could happen again. When a retailer declares bankruptcy, they will stop accepting gift cards as payment.

• Expiry Dates – always check that there is a good amount of time for the recipient to use the card.

Kids Don’t Care

If you have children, you’ll know that you could buy them the most expensive and elaborate toy for Christmas and they will still play with the box. Children don’t care how much you’ve spent on decorations, how many presents they have in front of them or whether you’ve bought a budget turkey. For kids, it’s the magic of Christmas and the thought of Santa visiting which makes it special.

So save up your cash for a rainy day and keep it simple. Put out a cookie and a carrot for Santa and his reindeer, read them a bedtime story and sleep safe in the knowledge that you can have a perfect family Christmas without spending all of your savings.

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