Taking on a mortgage, especially as a first-time homebuyer, can be intimidating. Finding out that it can lower your credit score can be downright stressful. It’s a bit of a “Catch 22”: You need good credit to buy a house, but buying a house lowers your credit.
It is also vital not to confuse a down payment with an earnest money deposit. A house down payment and earnest money are not the same things. The resource at Maximum Real Estate Exposure does an excellent job explaining what earnest money is, how it works, and how it differs from down payment funds.
If you live in an older home (and there are many of them in St. Louis) it might have knob and tube wiring. Knob and tube (or K&T) was the standard method of electrical wiring when electricity was first used in homes in the 1880s. New innovations in cable and wire came along in the 1920s, but K&T was still common up until the 1950s when more modern methods took over.
Smart home lovers likely rejoice at the continued flood of smart house accessories on the market, one of which are video security doorbells.
Whether buying or selling a home in St. Louis, finding the best realtor will involve some work. You’ll want to ask people you know for referrals, do some research, and finally, interview the best candidates. (Read Follow These 3 Steps to Find a Real Estate Agent.) Sales statistics and experience are important, but you need to feel confident in your decision on a more personal level, too.
With each season comes new trends and styles in interior decorating. While it's fun to explore ideas and revamp a home, it can be costly and become outdated within months. If you're itching to refresh your space without overdoing it, home accents are the best way to change a room with minimal effort. Here are a few ideas to swap out when you're looking for a new look in your home:
Winter is on its way and you know what that means... soon, you'll need to turn on your furnace. In fact, if you live in a colder climate, you might have already done so. Keeping your home warm while keeping your electric bill low is the goal for most homeowners. If it seems like your home is always chilly but your energy bill is high, you may be losing heat. Here are some of the most common places your home can lose heat:
Congrats! Your house is selling for substantially more than you paid for it! That’s a good thing… or is it? The IRS may want a chunk of the profits in the form of capital gains tax. There are some scenarios when selling a home will generate a tax liability. But there are ways that homeowners can avoid taxes of home sales.
Buying a house is one of the largest investments you'll ever make. It's crucial that you make wise decisions when purchasing a house to protect your investment. Here are five criteria to consider to ensure this:
After the real estate bubble burst in 2008, it seemed like foreclosed houses could be found in almost every neighborhood across the country. The number of foreclosed homes reached an all-time high in 2010 but has steadily decreased each year since. Nevertheless, as long as there have been mortgages, there have been people unable to pay them. Buyers can get a bargain buying a foreclosed home. But if they’re not cautious, they can get more than they bargained for.
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