09 Jan 10 Careful Considerations When Buying A Home

When you’re a first time home buyer, there are a lot of mistakes you can make. Avoiding those pitfalls is difficult, because sometimes you don’t know a pitfall until you’ve been ensnared into one. The best thing you can do is try and be as informed as possible. Do your research, and prepare as best you can, and maybe you can avoid any unfortunate circumstances. Here are a few tips that will help:

-Have a good idea of how much money you have available to spend. The last thing you want to do is get into a bidding war that greatly exceeds your means. Part of the reason for this recession is too many people living beyond their means, don’t become one of them. Buying a house you can’t afford is never a good idea, so set an absolutely final mark on how much you’re willing to pay. Then, DON’T go over that price.

-Don’t be afraid to ask for professional help when considering home options. But don’t turn to a real estate dealer for help, because their interests are concentrated towards selling the home to you. A real estate agent’s job is to make any house fit for you, whether it’s really the right choice or not. You can’t trust a salesperson to provide you with unbiased information or opinions.

-Buying a home is a major decision, treat the decision as such. You shouldn’t buy a home on a whim, because chances are you’ll be living there for some time. Shop around so that you can find value for money, acceptable locations, and a house that you’ll be happy with in the long term.

-Make sure that you always have an inspector chosen by you investigate the house before even considering purchase. The problem with using an inspector provided by a real estate agency, is that they are more likely to be slanted in the opinion of the agency. Finding an independent third party guarantees a fair and unbiased assessment of the property.

Tags: Bidding War, Buying A Home, Buying A House, Careful Considerations, First Time Home, First Time Home Buyer, Home Options, How Much Money, Pitfall, Pitfalls, Real Estate Agency, Real Estate Agent, Recession, Right Choice, Salesperson, Third Party, Time Home Buyer, Time Shop, Unfortunate Circumstances, Whim

Filed in Home & Family, Home Appraisal, Real Estate Appraisal with 0 Comments

13 Nov 09 Investing During A Recession

It’s not the greatest idea to keep your money in the bank, instead of invested in something. Mostly because that saved money just sitting there is useless. You could be earning money by investing intelligently. Sure there’s risk involved, but there’s risk in everything that you do financially. You have a better chance of retiring when you want if you invest the money, opposed to just saving.

But how do you invest during a recession? Now may not seem like the best time to be investing in the stock market, and you’d probably be right. But playing your cards right, you can still invest smartly, and get your money working for you. Just be careful, and make smart decisions.

One of the best, is to diversify. One huge pitfall of stocks, is when a person invests too much of their portfolio into one investment. That’s a mistake, because if that investment falls through, so do you. You should never have more than 5-10% of your total portfolio invested in once source. This way you don’t stand to lose much if the stock sinks, and you’ll still benefit from the gains.

Look into good defensive stocks like healthcare and entertainment stocks. These are good bets long term, and investments are about long term gains. The pain you’re suffering from the recession of the last few years is nothing compared to the big picture. Recessions happen, the stock market goes through good periods and bad ones. These investments are for the long term. So if you’ve lost 30-40% of your initial money right now, think about that as a small blip on the chart.

There’s no telling where the stock market will be ten years from now. Everything could have fully recovered, and you could be up 30-40% on your savings again, when you’re looking to sell.

Tags: Best Time, Bets, Better Chance, Big Picture, Blip, Defensive Stocks, Earning Money, Initial Money, Investing During A Recession, Investing In The Stock Market, Investing Stock, Investments, Mistake, Money In The Bank, Money Investing, Periods, Pitfall, Recessions, Sinks, Smart Decisions

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09 Jan 10 Careful Considerations When Buying A Home

13 Nov 09 Investing During A Recession

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