Beth Buczynski, NerdWallet Published 11:38 am CDT, Friday, June 28, 2019 This article was first published on NerdWallet.com. A perfect home can be hard to find these days, especially if you’re a first-time home buyer on a budget. That could be why nearly 60% of home shoppers age 18-34, many of whom may be buying for the first time, say they’re open to a house that needs renovations, according to a 2019 survey from Realtor.com. Fixer-uppers — existing homes in need of updates or repairs — usually sell for less per square foot than homes that are in good shape, says Dan Bawden, president and CEO of Legal Eagle Contractors in Houston, Texas. But before you start bargain hunting, you may want to practice your deep cleansing breaths. Simple projects can become complicated once the demolition starts, and if costs end up higher than estimated, finishing your to-do list can take longer than you think. Use these pointers to help decide if … [Read more...] about What First-Time Home Buyers Should Know About Fixer-Uppers
Can first time buyer get buy to let mortgage
By: John Stepek 23/04/2019 This article is taken from our FREE daily investment email Money Morning. Every day, MoneyWeek's executive editor John Stepek and guest contributors explain how current economic and political developments are affecting the markets and your wealth, and give you pointers on how you can profit.Sign up free here. What’s ailing the UK property market?House price growth across the country has slowed to just 0.7%, according to the most recent Nationwide release. That’s a drop in real (after-inflation) terms. Meanwhile, transaction levels have risen slightly in the last year – 64,340 new mortgages were approved for house purchases in March, just 430 more than in the same month in 2018 – but they remain decidedly sluggish. What dread apparition has rattled Britain’s favourite asset class? Could it be possible that you can go wrong with bricks’n’mortar? “Brexit” is the go-to excuse for those in … [Read more...] about London house-price crash: is it all down to Brexit?
By: John Stepek 25/04/2019 This article is taken from our FREE daily investment email Money Morning. Every day, MoneyWeek's executive editor John Stepek and guest contributors explain how current economic and political developments are affecting the markets and your wealth, and give you pointers on how you can profit.Sign up free here. Life has become very tough for amateur landlords in recent years. Tax changes, tighter regulations, lending restrictions – you name it, the buy-to-let property sector has been hit by it. But one entity is very happy indeed about the squeeze on landlords: the UK government. How George Osborne killed the buy-to-let property market When George Osborne was chancellor, one of his most consequential policies was to tax landlords – and property investors in general – a lot more heavily. We’ve written about the measures taken a number of times (you can read the details here, for example). But the outcome was that it … [Read more...] about The death of buy-to-let property is a useful cautionary tale for all investors
Published April 10, 2019 Personal Finance Bankrate.com Facebook Twitter Comments Print video Housing a buyer's market this spring, summer? Dolly Lenz Real Estate CEO Dolly Lenz and Dolly Lenz Real Estate Managing Director Jenny Lenz on the state of the housing market. Buying your first home comes with many big decisions and can be as scary as it is exciting. It’s easy to get swept up in the whirlwind of home shopping and make mistakes that could leave you with buyer’s remorse later. Continue Reading Below If this is your first rodeo as a homebuyer or it’s been many years since you last bought a home, knowledge is power. Here are the 14 most common mistakes first-time buyers make — and how to steer clear of these missteps. 1. Looking for a home before applying for a mortgage Many first-time buyers make the mistake of viewing homes before ever meeting with a mortgage lender. This puts you behind the ball if a home hits … [Read more...] about 14 first-time homebuyer mistakes to avoid
By: Merryn Somerset Webb 04/03/2019 Two hundred thousand people in the UK have now bought houses using former chancellor George Osborne’s Help to Buy equity loan scheme. The taxpayer has lent those people £10bn, an average of £55,000 each. The maximum you can borrow from the taxpayer is 20% of the purchase price cap of £600,000 in most of the UK and 40% of the cap in London — so £120,000 and £240,000. You might think this sounds wonderful — that it is yet another of the marvellous legacies left to us by the last government. Lucky us. And certainly, the scheme’s fans waste no time pointing out the good that has come of it. It has been a huge boost to the housebuilding sector, since the only homes you can buy under the Help to Buy scheme are new-build homes, keeping it going through what could have been very dark years following the financial crisis. You can, if you like, think of the £10bn paid to the housebuilders … [Read more...] about The many failings of the government’s exploitative Help to Buy scheme