Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
Co-Signing A Mortgage? You’ll Need These Docs
Co-Signing a Mortgage? You'll Need These Docs Q: My daughter is buying a home. The mortgage company wants me to submit a ton of information in order to be her co-signer. They want all pages of my bank statements for the last three months and my tax returns for the last two years. They also [...]
Zoning: Splitting Lots
Zoning: Splitting Lots Q: I have a zoning question. My daughter and son-in-law bought a cabin as their second/vacation home near Seattle a couple of years ago. The property is actually two lots (with two separate tax parcels). And, the cabin on one of the lots. But there is only one deed and one mortgage. [...]
Condo Reserves: Buyer Beware
Condo Reserves: Buyer Beware Read the first part of this story, Condo Reserves: A Growing Issue. A few weeks ago, we wrote about condo and co-op reserves and the new Florida State law. This new law, passed in the wake of the Surfside collapse in 2021, mandates condo and co-op buildings that are at least [...]
Why did my credit score drop?
Why my credit score drop? Paying off loans or credit card debt may temporarily drop your credit score. Even as it seems paying off debt should raise them. Q: So my mortgage got sold again to a new loan servicing company. And, again my credit score went down. My score went down when they closed [...]
Getting Rid of an HOA
Getting Rid of an HOA Homeowners wonder if turning over control of retention ponds and eliminating their HOA is a good idea Q: We recently read a reply you gave to a question about a homeowners association (HOA) in Maryland, that is having trouble getting people to run for the board. We live in a [...]
Renters: Who owns the home we’re renting?
Renters: Who owns home the home we're renting? The home two renters are renting was recently sold in a sheriff's sale. Now they're wondering, who actually owns the home and what does it mean for them? Q: Let’s assume someone has a mortgage. Their home sells for one dollar at a sheriff’s sale. Who owns [...]
Condo Living: pros and cons
Condo living: pros and cons of a small HOA Q: I purchased my condo in July 2021. Since then, the condo board put through a special assessment for $120 per month for the next 84 months to pay for “unsafe balcony” repairs. This was not disclosed at the time of my closing. Condo HOA is [...]
How Much Can I Afford For a Home?
How much can I afford for a home? With home prices skyrocketing over the past few years, home buyers are worried about affordability. Q: How much can I afford for a home? I retired in 2020. My long-term plan was to move to a single level home. I've delayed it due to Covid but hope [...]
Electric Car Home Charging Stations: Who should pay?
In 2018, there were a million electric cars on the roads in the U.S. By 2025, there will be more than 18 million electric cars on U.S. roads, according to PolicyAdvice and Business Insider. Electric car owners will want to charge their cars at home, at the mall, at work or in every parking garage. [...]
Buying a House in 2021 is Hard: Is Building More Homes The Answer?
Buying a house in 2021 is hard. Is building more homes the answer? We spoke with leading real estate industry economists and observers about why it is so difficult to buy a house this year, and whether rising mortgage interest rates or building more homes will solve the new housing shortage. This week, the National [...]